Adam D. Gale

Counsel

Practice Description

Adam Gale provides regulatory and compliance advice to hedge funds, private equity funds, broker-dealers, banks and registered investment companies. He also forms and structures private funds and registered funds. Mr. Gale represents both well-established and start-up entities.

• Hedge Funds and Private Equity Funds. Mr. Gale forms and structures U.S. and international private investment funds and advisors, including hedge funds, private equity funds, funds-of-funds and real estate funds, and advises them on the full range of compliance and regulatory issues, including the Investment Advisers Act, Commodity Exchange Act, Investment Company Act of 1940, broker-dealer solicitation and other securities law issues, such as Regulation D. He also negotiates margin, prime brokerage and other agreements on behalf of funds. In addition, Mr. Gale conducts fund reviews for investors.
• Broker-Dealer/Market Regulation. Mr. Gale advises broker-dealers and financial institutions on regulatory and compliance issues relating to FINRA rules and other broker-dealer and securities laws and regulations, including net capital, custody, foreign broker-dealers, registration requirements, insider trading issues, Regulation M, MSRB rules, anti-money laundering (AML) regulations (including OFAC and PATRIOT Act issues), supervision, trading and sales. He also provides regulatory advice on mergers and acquisitions of financial institutions, creation of new broker-dealers, capital markets transactions and new product development. Mr. Gale structures and implements supervisory and compliance programs, and represent clients in SEC and SRO examinations.
• Bank Regulation. Mr. Gale advises banks and other financial institutions on U.S. bank regulatory issues, including the Volcker Rule and other Dodd-Frank Act provisions, affiliate transactions under Sections 23A and B, credit risk policies, bank broker-dealer exceptions and securities credit regulations (Regs. T, U and X).
• Registered Investment Companies/'40 Act Issues. Mr. Gale forms mutual funds, business development companies (BDCs) and other registered investment companies, and advises them on ongoing regulatory and compliance issues. He also advises on '40 Act exemptions and status issues for various transactions and operating companies.
• Asset Managers. Mr. Gale advises asset managers and registered investment advisors on all regulatory and compliance issues.

Mr. Gale also has extensive experience in SEC enforcement actions and investigations.

He has been quoted in numerous articles concerning hedge funds, including in CFO Magazine, Alternative Investment News and The Hedge Fund Law Report.

Mr. Gale was senior counsel at The Bank of New York, where he advised the bank's hedge fund, investment adviser and broker-dealer subsidiaries on regulatory and compliance issues, as well as providing advice on bank-wide regulatory issues. Previously, Mr. Gale was at Debevoise & Plimpton LLP for 10 years, where he focused on regulatory and compliance issues, SEC investigations and securities litigation.

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