Sadis’ Regulatory Defense & Compliance Group provides a full range of services to help clients meet ongoing compliance obligations and prepare for actions by federal and state authorities, including regulatory examinations and enforcement proceedings initiated by the SEC, FINRA, the CFTC, the NFA, and state regulators. We serve registered and unregistered investment advisers, broker-dealers, commodity pool operators (CPOs), commodity trading advisors (CTAs), and other financial market participants. Our attorneys develop and review compliance programs and policies, provide day-to-day regulatory counsel, and conduct mock audits and compliance reviews to monitor in-house procedures and remediate potential issues before they become problems.
Our multidisciplinary team includes experienced securities lawyers and litigators who collaborate to ensure clients are protected on all fronts. We guide firms through routine regulatory examinations and stand ready to defend against enforcement actions or white-collar investigations.
Regulatory Investigations & Enforcement Defense
Sadis provides aggressive representation for clients facing government and regulatory investigations, inquiries, and enforcement actions. We represent businesses and individuals in matters brought by agencies such as the SEC, CFTC, FINRA, NFA, state securities regulators, and other authorities.
Our attorneys engage proactively with regulators from the outset, aiming to prevent routine inquiries from escalating into formal actions. We help challenge preliminary findings, respond to subpoenas, manage testimony preparation, and advocate in administrative or court proceedings. When appropriate, we negotiate favorable resolutions to minimize litigation risks and reputational harm.
We also work closely with our Investment Fraud & Securities Lawyers team on complex matters involving overlapping litigation and regulatory exposure.
Regulatory Compliance Filings & Registrations
SEC Compliance Filings
We prepare and amend SEC filings including:
Form ADV (investment adviser registration)
Form PF (private fund reporting)
Form D (Reg D offerings)
Forms 13D/13G, 13F, 13H, and Section 16 reports
Our team ensures the filings are accurate, timely, and aligned with SEC expectations. For advisers operating within pooled investment vehicles, we often coordinate closely with our Investment Funds group to ensure fund structures align with regulatory disclosures.
CFTC/NFA Compliance Filings
We support commodity pool operators and commodity trading advisors with:
Form 7-R and Form 8-R registrations
Form PQR and Form PR filings
NFA annual questionnaires
Exemption notices under Rules 4.13(a)(3) and 4.7
FINRA Filings & Broker-Dealer Compliance
We assist FINRA-member broker-dealers with:
Form U4/U5 amendments
Continuing Membership Applications (CMAs) under Rule 1017
Form BD, Form ATS, and other registration documents
Registered Investment Adviser (RIA) Compliance
Sadis advises investment advisers on formation, registration, and day-to-day compliance with the Investment Advisers Act of 1940. We support Chief Compliance Officers with:
Compliance manual drafting
Annual reviews and risk assessments
SEC hot topics: cybersecurity, ESG, marketing rule, soft dollars, principal transactions, and expense allocations
Our proactive counsel helps clients reduce regulatory risk and maintain sound governance. We also assist with Corporate & Business Law matters that intersect with adviser operations, such as governance, fiduciary duties, and entity structuring.
Mock Compliance Examinations & Training
We conduct tailored mock examinations that simulate current SEC, FINRA, CFTC, or NFA reviews. Services include:
Review of books and records
Policy testing and walk-throughs
Simulated regulator interviews
Post-audit remediation support
We also offer customized compliance training to strengthen team readiness and firm-wide regulatory awareness.
Which regulators do Sadis assist with compliance and defense?
We regularly represent clients before the SEC, CFTC, FINRA, NFA, DOJ, and state regulators. Our scope spans investment adviser, broker-dealer, and commodity firm matters.
When do I need an SEC enforcement defense attorney?
You should retain counsel immediately upon receiving a subpoena, Wells Notice, or exam notice. Early legal intervention can improve outcomes, limit exposure, and protect your rights.
What compliance filings can Sadis help with?
We prepare filings for:
SEC: Form ADV, PF, D, 13D/13G, 13F, 13H, Section 16
CFTC/NFA: 7-R, 8-R, PQR, PR, Rule 4.13 and 4.7 exemptions
FINRA: U4/U5, CMA, BD, ATS
What is a mock compliance examination?
A mock exam replicates a real regulatory audit. We review records, interview staff, and assess controls to identify gaps and then help remediate them before a real exam occurs.
What are examples of enforcement matters Sadis has handled?
We’ve defended clients in SEC insider trading cases, FINRA sanctions, and CFTC fund inquiries. This includes often resolving matters without formal findings or with reduced penalties.
