Laura S.Pruitt

Partner

Washington + 1.202.879.3625

Laura Pruitt's breadth of experience, including more than six years of service with the U.S. Securities and Exchange Commission, gives her an in-depth perspective into financial regulatory law. She counsels on securities law and market regulation issues, with particular emphasis on broker-dealer registration and compliance, alternative trading systems (ATSs) and equity trading, derivatives, investment adviser regulation, and transfer agents, data privacy, and anti-money laundering rules.

Laura regularly helps clients determine if they should be registered as broker-dealers and assists in registering broker-dealers with the SEC, self-regulatory organizations (SROs), and the Financial Institution Regulatory Authority (FINRA) and with obtaining approvals for changes of control and changes to business operations. She advises on compliance with Regulations NMS, SHO, and S-P, as well as SRO trading rules; advises on M&A transactions involving regulated entities; represents ATSs with required filings and issues arising under Regulation ATS; and counsels investment advisers and transfer agents on regulatory issues. She also represents clients in connection with regulatory examinations and enforcement actions.

During her tenure at the SEC, Laura worked on numerous rulemaking initiatives and interpretations, including those concerning electronic delivery of required disclosure documents, ATSs, the penny stock rules, options disclosure documents, Exchange Act Rule 14a-8, OTC derivatives dealers, rules implementing the provisions of the Gramm-Leach-Bliley Act, soft dollars under Exchange Act Section 28(e), and finders-related issues.

At the start of her career as a litigator in New York, Laura represented financial firms in securities class actions and hostile takeovers and represented clients in antitrust matters, among others.

Experience

  • ClearList LLC registers as broker-dealer with FINRA and files as ATS with SECJones Day advised ClearList Holdings LLC and its subsidiary, ClearList LLC, regarding the filing of ClearList LLC's new member application with the Financial Industry Regulatory Authority to become a registered broker-dealer, and the filing of a Form ATS with the SEC to create an alternative trading system for the secondary trading of private securities.
  • ClearList Securities LLC registers as broker-dealer with FINRAJones Day advised ClearList Holdings LLC and its subsidiary, ClearList Securities LLC, regarding the filing of ClearList Securities LLC's new member application with the Financial Industry Regulatory Authority to become a registered broker-dealer.
  • ShareNett Holdings LLC establishes secondary liquidity securities trading platform and invests in ClearList Holdings LLCJones Day advised ShareNett Holdings LLC on broker-dealer regulatory issues for ShareNett's secondary liquidity securities trading platform, as well as its investment in ClearList Holdings LLC, parent company of ClearList LLC, a FINRA-registered broker-dealer and the operator of an alternative trading system for the secondary trading of private company securities.
  • SIFMA submits comment letters regarding SEC's notice of proposed exemptive order granting conditional exemption from broker registration requirements of Section 15(a) of Securities Exchange Act of 1934Jones Day advised SIFMA in the preparation of two comment letters setting forth SIFMA's views regarding the SEC's notice of proposed exemptive order granting a conditional exemption from the broker registration requirements of Section 15(a) of the Securities Exchange Act of 1934 for certain activities of registered municipal advisors.
  • United Nations University obtains assistance with "Survivor's Package" for survivors of modern slavery and human traffickingJones Day conducted worldwide research for the United Nations University Centre for Policy Research to assist in the development of a "Survivor Package" for survivors of modern slavery and human trafficking.
  • tØ.com launches initial coin offeringJones Day is advising tØ.com in connection with their launch of an initial coin offering.
  • PRO Securities LLC responds to inquiries by FINRA and SEC concerning plans to implement blockchain trading platformJones Day represented PRO Securities LLC, a broker-dealer/licensed alternative trading system, in inquiries by FINRA and the SEC concerning plans to implement a blockchain trading platform, including issues regarding compliance with books and records, custody, and trading obligations.
  • Overstock.com obtains first ever effective registration statement that contemplates public offering utilizing blockchain technologyJones Day represented Overstock.com in obtaining first ever effective registration statement that contemplates a public offering utilizing blockchain technology.
  • Overstock.com and tØ.com implement blockchain trading platform and respond to inquiries by FINRA and the SECJones Day represented Overstock.com and tØ.com in inquiries by FINRA and the SEC concerning plans to implement a blockchain trading platform, including issues regarding compliance with books and records, custody and trading obligations.