Steven Lofchie, Co-Chairman of the Financial Services Department, concentrates his practice in advising financial institutions on regulatory issues and on derivatives and other financial instruments. He is the author of Lofchie's Guide to Broker-Dealer Regulation (3d ed. 2005), considered the leading treatise in the field. Chambers USA ranked Steve in its first band for both financial services regulation and derivatives.

Steve counsels broker-dealers, banks, securities exchanges, private funds and registered investment companies regarding regulatory and transactional issues. His regulatory practice addresses virtually all the securities-law related statutory and regulatory requirements applicable to broker-dealers, other regulated institutions and their affiliates.  He advises on registration requirements and exemptions, employee issues; cash market, sales, and trading; the development of compliance and supervisory procedures; satisfaction of margin, capital and recordkeeping requirements; the rules of the financial industry self-regulatory organizations; anti-money laundering; privacy; procedures for cross-border transactions; and insider trading issues.

Steve represents many of the largest hedge funds and their investment advisers on trading and derivatives regulation and documentation, as well as other regulatory issues, including those arising under the Advisers Act and the Commodity Exchange Act.

His transactional practice focuses on over-the-counter derivatives, securities financing, and trading agreements (from prime brokerage to the use of asset-backed structures for the financing of investments in hedge funds), and various types of licensing and membership agreements.

The securities industry associations and organizations for which Steve does work include the Securities Industry and Financial Markets Association, the Managed Funds Association, and the International Swaps and Derivatives Association.

Steve has been very active in developing web-based compliance tools, including his Guide to Broker Dealer Regulation, online compliance manuals, research tools and document analysis systems.

Steve received his M.B.A. from Columbia Business School, where he was a General Motors Fellow. He received his J.D. from Yale Law School, where he was a member of the Yale Law Journal.