Orrick Adds Finance and Tech Regulatory Adviser Ignacio Sandoval

2 minute read | April.29.2024

Ignacio Sandoval joins our Financial & Fintech Advisory practice as a partner in Washington, D.C.
He brings a deep background advising broker-dealers and securities related service providers, including fintechs, on the evolving regulatory challenges emerging in the securities market, particularly in matters before the SEC, and FINRA and other self-regulatory organizations.
Previously a special counsel in the SEC’s Division of Trading and Markets, he was most recently a partner with Morgan Lewis.
He joins our growing global regulatory team, which last year expanded through our combination with top financial and regulatory enforcement firm Buckley. With that combination and other hires, the firm has added 37 partners to the Washington DC office over the past two years.

“Ignacio adds top securities regulatory capabilities to our financial and fintech advisory practice – adding skills that are essential to the solutions our clients need. We are excited to welcome him,” said Clint Rockwell, head of Orrick’s Financial & Fintech Advisory practice.

Ignacio advises largescale U.S. broker dealers in their clearing, retail, trading and institutional businesses, as well as financial responsibility and operational obligations. This includes guiding clients in cryptocurrency markets as the SEC and state regulators ramp up regulatory and enforcement efforts. He also advises on novel securities related fintech structures, including in connection with technology-driven trading solutions, automated portfolio managers, and other investment-related services.

“It’s a moment of convergence in financial services technology servicing the broker dealer and securities sector. Orrick offers an extraordinary combination of a world class financial services regulatory team and a top technology companies platform. The firm is built for this moment in the market and I’m thrilled to collaborate with my new colleagues,” Ignacio said.

Ignacio is the firm’s third hire in DC this year, following DOJ veteran and employment litigator Esther Lander and ITC litigator Josh Pond.

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Ignacio Sandoval Partner, Financial & Fintech Advisory, Technology Companies Group

Washington, D.C.

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D:+1 202 349 8053
E: [email protected]

Practice:

Financial & Fintech Advisory
Technology Companies Group
Strategic Advisory & Government Enforcement (SAGE)

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Ignacio Sandoval Partner

Washington, D.C.

Ignacio engages with the SEC and the Financial Industry Regulatory Authority (FINRA) on behalf of clients on critical matters related to their business by seeking regulatory relief, interpretive guidance, exemptions and as a subject matter expert in enforcement and examination matters. He advises major U.S. broker-dealers in their clearing, retail, trading and institutional businesses, and on their financial responsibility and operational obligations.

Ignacio has counseled numerous broker-dealers on their obligations under the net capital rule (Rule 15c3-1), the customer protection rule (Rule 15c3-3), margin (Regulation T, Regulation U, Regulation X, FINRA Rule 4210, etc.), recordkeeping and reporting rules (Rule 17a-3, Rule 17a-4, Rule 17a-5, Rule 17a-8, Rule 17a-11, Rule 17a-13, etc.) and other middle office and back-office requirements. He has drafted market standard clearing and custody agreements for broker-dealers and has experience working on various types of agreements affecting market intermediaries and participants, including trading agreements, customer agreements, distribution agreements and platform agreements.

Ignacio regularly registers and provides support to alternative trading systems (ATS) and counsels market participants regarding their obligations to register as such. In addition, he has helped broker-dealers develop management platforms for clients involving money market funds and other cash equivalent instruments. He also has experience with cash sweep programs involving money market funds and bank deposit programs insured by the Federal Deposit Insurance Corporation (FDIC).

Ignacio’s experience also includes matters relating to domestic and foreign broker-dealer registrations, customer account statement and confirmation requirements, mergers and acquisition brokers, anti-money laundering obligations for buy-side and sell-side participants, transaction confirmations and outsourcing broker-dealer technology and platforms. He counsels foreign exchanges and foreign clearing organizations regarding U.S. regulatory obligations on the access of U.S. person to foreign options markets and security-futures products.

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Markets

Washington, D.C.