Mr. Drogin regularly advises clients on broker-dealer status issues, as well as on clearing arrangements and related matters, such as prime brokerage arrangements, credit and financing arrangements, and confirmation and account statement issues. He also advises broker-dealers on commission recapture and soft dollar arrangements, as well as on the distribution of foreign research in the United States and the execution of securities transactions by foreign broker-dealers for U.S. persons. Mr. Drogin advises banks on securities activities permitted by the Gramm-Leach-Bliley Act of 1999, as well as related credit and financing activities. He also advises exchange-traded fund (ETF) sponsors on the listing and trading of ETFs and similar products on U.S. markets.

Publications

"Fraud in Markups: An Unsual SEC Decision," The Review of Securities & Commodities Regulation (September 3, 2008)

Previous Experience

Before joining Schiff Hardin, Mr. Drogin served for several years at a large law firm in Washington, D.C.

Prior to entering private practice, Mr. Drogin gained ten years of regulatory experience with the U.S. Securities and Exchange Commission (SEC). He served as Assistant Director in the Office of Market Supervision, Division of Market Regulation. In this position, he oversaw the National Association of Securities Dealers (now the Financial Industry Regulatory Authority) and national securities exchanges.

Earlier in his career at the SEC, Mr. Drogin served as Branch Chief in the Office of Self-Regulatory Oversight where he was primarily responsible for the regulation of international clearance and settlement, registered clearing agencies, and commercial law relating to securities processing. Later Mr. Drogin served as Special Counsel in the Office of Chief Counsel where he oversaw broker-dealers and developed policy governing broker-dealers and regulation of securities markets.