U.S. Securities and Exchange Commission, Division of Trading and Markets
- Mark managed attorneys responsible for administering the SEC’s broker-dealer financial responsibility rules, including the net capital rule, customer protection rule, hypothecation rules, books and records rules, financial reporting rules, and risk assessment rules.
- He provided formal guidance in the form of no-action and interpretive letters, and assisted in the preparation of Division publications answering frequently asked questions.
- Mark provided interpretive guidance to SEC staff, market participants, and the public on broker-dealer financial responsibility rules and federal and self-regulatory organization securities credit regulations.
- Mark served as primary liaison on enforcement matters involving broker-dealer financial responsibility.
- He assessed potential SIPC coverage under the Securities Investor Protection Act of 1970.
- Mark coordinated with self-regulatory organizations on overlapping financial responsibility issues.
- Mark was a member of teams responsible for completing mandated rulemaking under the Dodd-Frank Act relating to, among other things, security-based swap dealer capital, margin, and segregation, statutory and regulatory credit rating reference removal, broker-dealer reporting, audit, and notification requirements, and rescission of the SEC’s investment bank holding company program.
- He responded to rating agency requests to be recognized as nationally recognized statistical rating organizations and served as a primary drafter of the SEC’s report under the Sarbanes-Oxley Act of 2002 on the Role and Function of Credit Rating Agencies in the Operation of the Securities Markets and related SEC rulemaking initiatives leading up to the Credit Rating Agency Reform Act of 2006.