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Biography
Paul chairs the firm's Corporate Governance and Compliance Group and practices in the areas of federal securities and commodities law and public finance. He represents clients before the Securities and Exchange Commission and self regulatory organizations in regulatory, enforcement, and compliance matters, conducts internal investigations, serves as counsel in municipal securities transactions and coordinates public finance activities in our Washington office. Paul's clients include individuals, corporations, broker-dealers and municipal securities dealers, state and local governments, and foreign securities and commodities regulators.
Paul joined the firm as a partner in 2000 after establishing and serving as the first Director of the Securities and Exchange Commission's Office of Municipal Securities. He began his career as an attorney in the SEC's Division of Enforcement and, after 15 years in private practice, returned to the SEC as an attorney fellow in the SEC's Office of General Counsel. As Director, Paul was responsible for leading the effort to modernize regulation of the municipal bond market under former SEC Chairman Arthur Levitt. He advised the Commission on enforcement actions, rulemaking policy and oversight of the Municipal Securities Rulemaking Board. He initiated a program providing technical assistance in creating sub-sovereign debt markets and coordinated SEC efforts to end "pay-to-play" practices in the U.S. municipal securities markets. Prior to re-joining the SEC in 1994, Paul practiced law for fifteen years in New York and Boston specializing in public and project finance and federal securities law.
Paul received the Chairman's Award for Excellence for his work in developing the amendments to Rule 15c2-12 while at the SEC and received The National Federation of Municipal Analysts Industry Contribution Award in 2001. Paul is listed in The Best Lawyers in America in corporate, mergers & acquisitions, and securities law in the 2005 edition and in corporate governance and compliance law and public finance law in the 2006 and 2007 editions. Additionally, he is listed in Who's Who and What's What on Wall Street, Who's Who in America, Who's Who in American Law and The Lawdragon 500 Leading Lawyers in America 2005 edition.
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Activities and Affiliations
- Adjunct Associate Professor of Law, Federal Securities Markets, American University Washington College of Law (1997-1999); Instructor, Federal Securities Law and International Securities Transactions, Morin Center for Banking Law Studies, Boston University School of Law (1992-1996 and 1999-2003); speaker and panelist at various seminars and continuing legal education programs on securities law and municipal finance sponsored by The World Bank, U.S.A.I.D., the Inter-American Development Bank, U.S. Securities and Exchange Commission, Municipal Securities Rulemaking Board, American Institute of Certified Public Accountants, the Bond Market Association, the Government Finance Officer's Association, National Federation of Municipal Analysts, the Practicing Law Institute and similar sponsors
- Member: Editorial Board, Municipal Finance Journal; Government Finance Officers Association; American Bar Association, Committee on Federal Regulation of Securities, Section on International Law, and State and Local Government Section; National Association of Bond Lawyers (Board of Directors 1989-1992); American College of Bond Counsel; Association of the Bar of the City of New York; National Federation of Municipal Analysts, Southern Municipal Finance Society
Publications - Federal Securities Law, a quarterly column in The Bond Lawyer, the journal of the National Association of Bond Lawyers
- Editor, Federal Securities Laws of Municipal Bonds Deskbook, National Association of Bond Lawyers
- Building a Strong Subnational Debt Market, Richmond Journal of Global Law and Business, Vol. 2, No. I. Winter/Spring 2001
- You Can't Count on Laws to Restore Market Trust, Manager's Journal, Wall Street Journal, August 6, 2002
- The Sarbanization of the Not-for-Profit World, Aon Financial Risk HealthLine/Healthcare Alliance, October 2003
- The Qualified Legal Compliance Committee: A Practical Choice?, co-authored with Kevin Lewis and David Godschalk, CCH Washington Service Bureau, Securities Regulatory Update, June 9, 2003
- Adapting to the "New World Order" and the Personalization of Corporate Responsibility, Of Counsel, October 2002
- CEO/CFO Certifications Are Again in Securities and Exchange Commission Spotlight, BNA Securities Regulation and Law Report: Analysis and Perspective, April 7, 2003
- New SEC Certification Requirements Demand Immediate Attention by CEOs and CFOs, co-authored with Stephen J. Crimmins, BNA Securities Regulation and Law Report, Analysis and Perspective, July 8, 2002
- Accounting and Accountability: Observations on the AHERF Settlements, co-authored with Stephen J. Weinstein, Healthcare Financial Management, October 2000
- Regulation of Municipal Securities Transactions Under United States Federal Securities Law, Chapter of Little, Parry and Taylor, Bond Markets: Law and Regulation, Sweet & Maxwell, London, 1999
- Disclosure Roles of Counsel in Municipal Securities Transactions, American Bar Association, 1994 2d ed. (co-reporter and co-author), 1987 ed. (co-editor and co-author)
- Federal Securities Laws for Municipal Bond Professionals, Chapter of Handbook of Municipal Finance Law, Global Financial Press
- Securities Laws, Chapter of Fundamentals of Municipal Bonds, National Association of Bond Lawyers, 1985-1994 (co-author)
- Securities Laws and the Municipal Market: Points Every Market Participant Should Keep in Mind, Municipal Finance Journal, Fall, 1999
- Commentary-Government Finance Officers Association 15-Year Anniversary of the Disclosure Guidelines for State and Local Government Securities, Municipal Finance Journal, Winter, 1991
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Education and Professional Background
- Lehigh University, B.A., 1974 (Omicron Delta Kappa)
- New York University School of Law, J.D., 1977
- Admitted to practice: New York, 1978; Massachusetts, 1987; District of Columbia, 2001; Supreme Court of the United States of America
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