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919 Third Avenue
New York, New York 10022
United States of America
P: +1 212.756.2553
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Marc E. Elovitz is a partner in the New York office, where, as a member of the Investment Management, Litigation and Regulatory & Compliance Groups, he heads up the firm’s regulatory compliance work in the private investment funds area. He advises hedge funds, private equity funds and funds of funds on compliance with the Investment Advisers Act of 1940 and other federal, state and self-regulatory organization requirements, including establishing compliance programs, registering with the SEC and handling SEC examinations. Marc provides guidance to clients on securities trading matters and represents them in regulatory investigations and enforcement actions, arbitrations and civil litigation. He also regularly leads training sessions for portfolio managers and analysts on complying with insider trading and market manipulation laws.
A member of the American Bar Association's Business and Litigation Sections and the Hedge Funds Subcommittee of the Committee on Federal Securities Regulation, Marc is a frequent speaker at hedge fund industry conferences and seminars. In addition, he co-authors the “Market Manipulation” chapter in the leading treatise, Federal Securities Exchange Act of 1934 (Matthew Bender) and wrote the chapter on “The Legal Basis of Investment Management in the U.S.” for the upcoming Oxford University Press book, The Law of Investment Management. After graduating with honors from Wesleyan University in 1986, Marc attended New York University School of Law, from which he was awarded his J.D. degree in 1990.
Selected Publications
“SEC Staff Issues Guidance on Registration of Investment Advisory Affiliates,” SRZ Client Alert, Jan. 23, 2012 (co-author)
“Protecting Your Firm Through Policies and Procedures, Training and Testing,” Insider Trading Law and Compliance Answer Book (Practising Law Institute) October 2011 (co-author)
“Final Rules for the Private Fund Investment Advisers Registration Act of 2010,” SRZ Client Memorandum, August 8, 2011 (co-author)
“Expert Networks: New Commentary by SEC Officials About Insider Trading,” SRZ Client Alert, March 25, 2011 (co-author)
“Government Ratchets Up Investigation Into Insider Trading Involving Expert Networks,” SRZ Client Alert, Dec. 17, 2010 (co-author)
“Insider Trading Update — SEC v. Cuban,” SRZ Client Alert, Sept. 22, 2010
“SEC Investigations After Dodd-Frank: A Primer for Hedge Fund Managers and Their In-House Counsel,” SRZ Client Alert, Sept. 7, 2010
“Dodd-Frank Becomes Law: Key Issues for Private Fund Managers,” The Hedge Fund Journal, September 2010 (co-author)
“Financial Crisis Inquiry Commission Sends Out Hedge Fund Industry Market Risk Survey,” SRZ Client Alert, June 25, 2010
“Financial Regulatory Reform: Key Issues for Private Fund Managers,” SRZ Client Alert, May 18, 2010
“New Regulatory Scrutiny of Communications Among Hedge Fund Managers,” SRZ Client Alert, March 11, 2010
“Update on Privacy Requirements Affecting Private Investment Fund Managers,” SRZ Client Memorandum, Feb. 26, 2010
“SEC Adopts New Short-Selling Restrictions,” SRZ Client Alert, Feb. 25, 2010
“Analysis of the SEC’s New Amendments to the Custody Rule,” SRZ Client Memorandum, Feb. 1, 2010
“Recent Areas of Focus in SEC Examinations of Hedge Fund Advisers,” Practical Compliance & Risk Management for the Securities Industry, September-October 2009
“SEC Proposes 'Pay to Play' Prohibitions,” SRZ Client Alert, Aug. 13, 2009
“Analysis of Recent U.S. Regulatory Proposals Regarding Investment Advisers,” SRZ Client Memorandum, July 30, 2009
“Analysis of the New Short Sale Rules Proposed by the Securities and Exchange Commission,” SRZ Client Memorandum, June 4, 2009
“FSA Discussion Paper on Short Selling,” SRZ Client Alert, Feb. 17, 2009
“FSA Confirms Relaxation of Ban on Short Selling; Retains Disclosure Obligation,” SRZ Client Alert, Jan. 14, 2009
“FSA Proposes to Relax Ban on Short Selling but Retain Disclosure Obligation,” SRZ Client Alert, Jan. 6, 2009
“SEC Form SH Filing Notice,” SRZ Client Alert, Dec. 24, 2008
“FSA Clarifies Short Sale Disclosure Requirements,” SRZ Client Alert, Oct. 31, 2008
“Update on SEC Form SH Filing Requirements,” SRZ Client Alert, Oct. 23, 2008
“SEC Extends Emergency Orders,” SRZ Client Alert, Oct. 3, 2008
“Registered Investment Advisers Required to Provide Notifications of Changes to Custody Arrangements,” SRZ Client Alert, Sept. 30, 2008
“SEC Issues Guidance on Form SH,” SRZ Client Alert, Sept. 26, 2008
“FSA Clarifies Short Sale Prohibition and Disclosure Requirements,” SRZ Client Alert, Sept. 25, 2008
“SEC Amends Emergency Order Banning Short Sales of Financial Firm Securities,” SRZ Client Alert, Sept. 23, 2008
“SEC Announces 'Sweeping Expansion' of Its Investigation of Short Selling by Hedge Funds and Other Market Participants; Will Include Subpoenas and Require Statements Under Oath About Activity/Positions in Financial Services Company Stocks and Credit Default Swaps. NYSE Regulation and FINRA Conduct Parallel Inquiry Through Onsite Visits to Broker-Dealers,” SRZ Client Alert, Sept. 22, 2008
“SEC Bans Short Selling and Imposes New Disclosures,” SRZ Client Alert, Sept. 19, 2008
"FSA Bans Short Selling in Financial Stocks and Requires Daily Short-Position Disclosures,” SRZ Client Alert, Sept. 19, 2008
“SEC Adopts New Short Sale Rules,” SRZ Client Alert, Sept. 18, 2008
“UK FSA Issues Guidance on New Short Selling Rule,” SRZ Client Alert, June 18, 2008
“UK FSA Rule on Short Selling in Rights Issues Effective 20 June 2008,” SRZ Client Alert, June 16, 2008
“Regulators Investigating Market Rumors,” SRZ Client Alert, March 28, 2008
“FSA Discussion Paper on Short Selling,” SRZ Client Alert, Feb. 17, 2008
“Special Regulatory Issue,” SRZ Investment Management Developments, Fall 2007
“Regulation of Fraudulent Market Activities,” Federal Securities Exchange Act of 1934 (Matthew Bender), 2006 (co-author) Supplements 2008 and 2009
“Money Laundering and Suspicious Activity Reporting: What’s a Broker-Dealer to Do?,” 1046 PLI/CORP. 293, 1998 (co-author)
“Proposed Rules Regarding the Responsibilities of Securities Clearing Firms for Their Introducing Brokers,” SRZ Securities Law Developments, Fall 1997 (co-author)
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Selected Speaking Engagements
“Compliance Spotlight” and “Regulatory and Compliance,” SRZ 21st Annual Private Investment Funds Seminar, January 2012
“Identifying and Addressing Conflicts of Interest,” ACA Compliance Group Fall Compliance Conference, Scottsdale, AZ, September 2011
“New Registration Rules Applicable to PE and VC Managers,” American Bar Association Annual Meeting, Toronto, August 2011
“Implementing a Post-Registration Compliance Program,” Goldman Sachs 14th Annual Hedge Fund Conference, May 2011
“How to Comply with Rule 105: A Workshop for Hedge Fund Managers,” SRZ Investment Management Hot Topics, May 2011
“SEC Registration, Examination & Audit Regulatory Reform Status Report,” Managed Funds Association Chief Financial Officer Forum, April 2011
“Primary Research — Expert Networks, Channel Checking and Compliance,” National Organization of Investment Professionals Spring Conference, April 2011
“The New Framework for Adviser Regulation,” Practising Law Institute Registration Under the Advisers Act: A Legal and Compliance Forum for New SEC Advisers, March 2011
“The Impact of Recent U.S. Regulatory Initiatives,” International Bar Association 12th Annual Private Investment Funds Conference, March 2011
“SEC Regulatory Update,” ACA Compliance Group Spring Compliance Conference, March 2011
JP Morgan A Practical Roadmap to Registration and New Investor Demands: What You Need to Know to Steer Clear of Associated Pitfalls & Risks, January 2011
“Compliance Spotlight” and “Managing Compliance Strategically,” SRZ 20th Annual Private Investment Funds Seminar, January 2011
“Private Equity Investment Adviser Registration,” SRZ Investment Management Hot Topics, December 2010
Goldman Sachs Annual Hedge Fund Conference, November 2010
Alternative Investment Financial Executives Association Private Equity and Venture Capital Funds Boot Camp, November 2010
“Policies and Procedures Part I — Preventing Violations: Begin with a Fundamental Assessment of Your Business,” Hedge Fund Business Operations Association and Financial Research Associates Fifth Annual Meeting of the Hedge Fund Business Operations Association, October 2010
“Life as a Registered Fund,” Alternative Investment Financial Executives Association General Membership Meeting, New York Chapter, October 2010
“Managing Compliance Strategically,” SRZ Investment Management Hot Topics, October 2010
“New Oversight and Supervision of Advisers,” Managed Funds Association New Regulatory Reforms: The Impact on Your Business, August 2010
“Running Your Business as an RIA,” Managed Funds Association Hedge Fund Adviser Registration: Getting Registered and Running Your Business as an RIA, April 2010
New York Society of Security Analysts Alternative Analysts’ Forum: How Regulation is Changing the Hedge Fund Industry, April 2010
“Spotlight on Compliance: Key Issues for 2010,” SRZ 19th Annual Private Investment Funds Seminar, January 2010
“New Legislative and Regulatory Initiatives,” SRZ 19th Annual Private Investment Funds Seminar, January 2010
“Connecting the Multiple Dimensions of Financial Reporting: Regulatory, Investor and Internal Perspectives,” Financial Research Associates Accounting, Auditing & Risk-Control Standards for Hedge Funds, December 2009
“Insider Trading Law and the New SEC Enforcement Environment,” Deutsche Bank's Global Prime Finance Client Dinner, November 2009
“Preparing for SEC Examinations of Private Fund Advisers,” SRZ Investment Management Hot Topics, November 2009
“U.S. Regulatory Developments for UK, European and Other Non-U.S. Investment Managers,” SRZ Audio Conference Series, October 2009
“Understanding the Legal Issues,” Alternative Investment Financial Executives Association Meeting, September 2009
“Preparing for SEC Registration and New Reporting Requirements,” SRZ Investment Management Hot Topics, September 2009
“Recent Legislative Developments for Hedge Funds,” New York State Bar Association Structured Products & Derivatives Law Committee Luncheon, September 2009
“New Alternatives to the Custody/Prime Broker Model,” Managed Funds Association Adapting to Changes in Custody and Prime Brokerage for Hedge Fund Managers, September 2009
“Hedge Funds: Registration and the New Regulatory Landscape,” Reuters Hedge Fund Webinar, September 2009
“Update on Regulation of Funds and Fund Managers,” SRZ Audio Conference Series, June 2009
“Current U.S. Congressional Proposals for Hedge Fund Regulation,” SRZ Audio Conference Series, February 2009
“Spotlight on Compliance: Key Issues for 2009” and “Current SEC Investigations and Enforcement Actions,” SRZ 18th Annual Private Investment Funds Seminar, New York, January 2009
“Compliance Programs,” SRZ Investment Management Hot Topics Seminar, October 2008
“Market Rumors,” SRZ Greenwich Private Investment Funds Seminar, September 2008
“Regulation and Compliance Roundtable: Top Examination & Enforcement Priorities,” Financial Research Associates Sixth Hedge Fund Accounting & Administration Forum, July 2008
“The Accountant’s Guide to Surviving an SEC or NFA Examination,” Financial Research Associates 10th Effective Hedge Fund Tax Practices Conference, May 2008
“Hear Directly from the Regulators,” Financial Research Associates Fifth Hedge Fund Accounting and Administrative Conference, May 2008
“Spotlight on Compliance: Key Issues for 2008” and “Addressing Conflicts of Interest,” SRZ 17th Annual Private Investment Funds Seminar, January 2008
“Current Examination Issues,” “Referrals to Enforcement” and “The Exit Interview and Deficiency Letter Process,” West LegalWorks SEC Inspections Workshop for Investment Advisers and Investment Companies, July 2007
“Litigation Trends Across the Hedge Fund Industry and Investor Rights,” Institute for International Research Hedge Fund Regulation & Compliance Seminar, April 2007
“Regulatory Sweeps: Past, Present & Future,” SRZ Hedge Fund Compliance Investment Management Hot Topics Seminar, March 2006
More
Memberships
American Bar Association
Litigation Section
New York City Bar Association
Bar Admissions
Court Admissions
- U.S. Court of Appeals, Eleventh Circuit 1996
- U.S. Court of Appeals, Ninth Circuit 1996
- U.S. Court of Appeals, Second Circuit 1996
- U.S. Court of Appeals, Sixth Circuit 1995
- U.S. Court of Appeals, Fourth Circuit 1995
- U.S. Supreme Court 1995
- U.S. District Court, Southern District of New York 1991
- U.S. District Court, Eastern District of New York 1991
Education
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New York University School of Law, J.D., 1990
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Wesleyan University, B.A., with honors, 1986
Prior Experience
Debevoise & Plimpton LLP
Litigation Associate
Adjunct Professor, Rutgers University School of Law
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