Howard Kramer represents companies in securities regulatory law, with particular emphasis on broker-dealer, market structure and compliance matters. In addition to providing advice, he also represents clients in regulatory investigations, inquiries and examinations.
Mr. Kramer’s practice focuses on trading rules, derivatives, alternative trading systems, and broker-dealer regulatory and compliance issues. His clients have included major securities firms, equity and options market-making desks, securities and derivatives markets, electronic and Internet-based trading systems and hedge funds. He has served as an independent consultant for several entities with respect to their enforcement settlements with the SEC. He also provides counsel on the implications of artificial intelligence, machine learning, and blockchain for securities trading.
Prior to entering private practice in 1998, Mr. Kramer served for 16 years in several positions with the SEC, including Senior Associate Director and Associate Director (1993-1998) of the Division of Market Regulation (now the Division of Trading and Markets), where he was responsible for oversight and regulation of the securities markets generally, including stock and options exchanges, Nasdaq, and debt markets, and the formulation and implementation of the SEC's national market system and other market structure programs.
Mr. Kramer played a leading role in developing SEC policy with respect to derivative products generally, including both listed and over-the-counter (OTC). He also represented the SEC at securities markets conferences and in domestic and international discussions with securities industry representatives, self-regulatory organization officials and staff, and government officials and staff in the U.S. and abroad. Prior to being appointed Senior Associate Director, Mr. Kramer served in several other positions with the SEC, including:
Senior Special Counsel (1991-1993)
Assistant Director for Options and Exchanges (1986-1991)
Chief, Branch of Options (1984-1986)
Staff Attorney, Branch of Over-the-Counter Regulation (1981-1983)
Mr. Kramer is regularly quoted in the media regarding developments in securities regulation and compliance. He is frequently invited to speak at a variety of industry seminars and programs.
Recognitions, Honors, & Awards
Chambers USA (2010 - 2017) - Financial Services Regulation: Broker Dealer (Compliance) nationwide
Best Lawyers, Securities Regulation, 2017
Securities and Exchange Commission Presidential Rank Award for Meritorious Service
Securities and Exchange Commission Distinguished Service Award
Securities and Exchange Commission Capital Markets Award
Securities and Exchange Commission Supervisory Excellence Award
Phi Beta Kappa. Staff Member, The Michigan Yearbook of International Legal Studies. Former Assistant Director for Options and Exchanges and Senior Special Counsel for the SEC.