So, Now You Own a Broker-Dealer!
Client Memorandum

Created date


Lanny A. Schwartz, Hilary S. Seo and Nancy Lee of Davis Polk & Wardwell LLP
Allen Meyer and Elena Belov of Oliver Wyman

Banking organizations, investment managers, private equity firms and industrial companies seek to advance various important corporate purposes when they form or acquire broker-dealers. However, because the regulatory scheme for broker-dealers is very detailed and prescriptive, bringing a broker-dealer into the corporate family requires forethought and careful planning in order to avoid unanticipated compliance, financial and reputational risks for the acquirer.

This article, which is co-authored by Davis Polk and Oliver Wyman, provides an introduction to common regulation-driven integration considerations, and suggests approaches to addressing them. Please join Davis Polk and Oliver Wyman on September 27, 2017 for our webcast reviewing this memo on common regulation-driven integration considerations. Register for the webcast >