He draws on his regulatory expertise to assist clients in anticipating and reacting to regulatory expectations. Conway’s practice focuses on advising financial institutions, corporate boards, and private and public companies on all aspects of securities-related regulatory, compliance, and enforcement issues. He also conducts compliance and risk assessments and internal investigations on behalf of corporations, boards of directors, and special committees.
For 12 years prior to joining Promontory, he focused on securities regulation and enforcement at the Securities and Exchange Commission, the primary capital-markets regulator in the U.S. Most recently, Conway served as an assistant director in the SEC’s division of enforcement, where he led complex investigations into potential violations of U.S. securities laws. During his tenure there, Conway worked on matters touching on all of the SEC’s major program areas, including public-company disclosure, accounting fraud, stock-option backdating, market manipulation, insider trading, the Foreign Corrupt Practices Act, the Jumpstart Our Business Startups Act, broker-dealer and investment-adviser registration and compliance, pay-to-play rules, whistleblowing, and short selling.
While at the SEC, Conway also helped develop enforcement initiatives designing and implementing streamlined, data-driven strategies to identify potential violators. He was one of the key architects of the enforcement division’s initiative for rule 105, a program that over a two-year period resulted in more than 40 settled enforcement actions involving hedge funds, private-equity funds, and proprietary trading firms over illicit short selling. Conway was also instrumental in bringing the milestone case that marked the SEC’s first application of its new admissions policy, resulting in a settlement that included substantive admissions of wrongdoing by a prominent hedge-fund manager.
His work at the SEC involved regular collaboration with fellow regulators, including state, federal, and foreign bodies. He worked closely with the Justice Department and the FBI on multiple investigations, offering him insight into complex matters that involve both civil and criminal violations. He also led a nationwide task force, which included state regulators and the Financial Industry Regulatory Authority, to monitor and enforce compliance with the JOBS Act rules governing private-equity offerings and crowdfunding. Further, Conway regularly coordinated with international regulatory bodies in Europe, the U.K., and Asia on a wide range of issues.
Prior to joining the SEC, Conway spent seven years in private practice. He served as a partner at Rubin and Rudman in Boston, where he represented a variety of clients, including financial services, technology, and entertainment companies. He gained extensive litigation and trial experience in both federal and state courts and served as lead counsel on several arbitrations before the National Association of Securities Dealers.