Stephen Mark Dollar
Head of Financial Institutions, United States
Norton Rose Fulbright US LLP
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A partner in our New York office, Steve Dollar leads our US Financial Institutions Practice. In serving as the Head of our FI group across all three major practices--disputes, transactions and regulatory--Steve has gathered a broad spectrum of experience of all of the major issues facing institutions today. His personal practice covers all aspects of complex disputes, including litigation and regulatory investigations on a nationwide basis.
While Steve has represented a diverse mix of commercial entities (including aviation and energy firms) on both sides of a litigation docket, his practice concentrates on high stakes commercial securities and financial services litigation, including representing US and non-US banks, broker-dealers, investment banks, RIAs, RICs and community banks in complex disputes. Steve also represents leading financial institutions in both issue-specific and enterprise-wide regulatory investigations, including enforcement actions brought by the SEC, FINRA and other federal and state regulators. Steve has directed numerous confidential internal investigations for Fortune 500 and Wall Street firms, and has extensive first chair trial experience in arbitrations on a nationwide basis.
Finally, through his relationship with FIs (and their ownership/relationship with aviation assets and operators) Steve also represents numerous US and non-US airlines, lessors and other operators in disputes against manufacturers and other market participants.
JD, Southern Methodist University School of Law, 1999
BA, Duke University, 1995
Steve is licensed to practice in New York, Texas and before the U.S. Court of Appeals for the Fifth and Ninth Circuits, U.S. District Courts for the Northern, Southern, Eastern and Western Districts of Texas and the Southern District of New York.
- New York State Bar
- Texas State Bar
- Lead counsel to U.S. and non-U.S. investment banks, broker-dealers, trust companies, family offices, RICs, RIAs, community banks and related insurance companies in sensitive internal and regulatory investigations nationwide (including DOJ, SEC, FINRA, U.S. Department of Labor and more than thirty state agencies) on a wide variety of both single issue specific and enterprise-wide risks.
- Lead trial counsel to a non-US investment bank accused of civil RICO violations within a multi-party credit syndicate. Claimed damages against the client eclipse $500 million.
- Lead trial counsel to a foreign state-owned oil company in a $1.5 billion fraudulent transfer litigation.
- Lead trial counsel to foreign state-owned oil company accused of financing terrorism in Columbia; case ended in full dismissal of claims.
- Lead trial counsel to a non-US bank accused of multiple violations of a number of states' Blue Sky laws relating to the issuance of nearly $2 billion in notes.
- Lead trial counsel to leading investment bank in state district court trial against the nation's largest manager of CLOs; case involved the sale of distressed debt pursuant to Loan Syndications and Trading Association (LSTA) terms; trial ended in full victory for client.
- Represented a broker-dealer targeted by an industry-wide sweep by FINRA in regard to potential violations regarding institutional trade reporting. All targets of the sweep agreed to a fine, some up to eight figure fines. Our client received a no-action letter and paid nothing.
- Lead trial and regulatory counsel for independent board of directors to publicly-held China-based company (product of a reverse merger) in various litigation and regulatory matters.
- Regulatory counsel to regional bank, broker-dealer and RIA with regard to a range of issues, from day-to-day compliance issues to enterprise risk level exposure.
- Lead counsel to numerous US and non-US airlines, lessors and operators dealing with the worldwide grounding of Boeing's 737-MAX aircraft. Steve leads a US-based team (drawing on the firm's highly rated global aviation finance and dispute expertise) to obtain significant and immediate cash and non-cash results for clients against Boeing and other market participants.
- Lead trial counsel for airline in US class action regarding ticketing practices during pandemic; parties' current settlement agreement is awaiting approval from SDNY court.
- Lead counsel for airline regarding potential delivery delay dispute regarding current order book.
- Lead counsel for airline in confidential dispute with lessor; matter was resolved and planes remained with airline in favorable lease.
- Lead outside counsel to an innovative bullion depository, a precious metals and bullion depository established in 2015 by a state legislature. A first of its kind, the depository seeks to become an alternative depository to individuals, institutions, and sovereign nations.
- Lead counsel of a team of numerous subject matter experts providing regulatory change management advice to multiple US and non-US financial institutions. Using its fundamental knowledge of the industry, the team identifies and advises on all applicable laws, rules and/or regulations that apply to the particular institution's business, often across all lines of business (retail and institutional).
- Lead trial and regulatory counsel to individuals, senior executives and family offices before the DOJ, SEC and FINRA.
- Lead regulatory counsel to regional and state-chartered financial institutions before numerous financial regulators, including FINRA, SEC and the DOJ.
- Trial counsel to telecommunications firm in complex "bet the company" arbitration regarding company's ESOP plan; client won a full dismissal of claims after the close of evidence.
- Lead regulatory counsel to major broker-dealer in AML investigation regarding multiple alleged compliance failures.
- Lead regulatory and trial counsel to both independent and internal public company boards in both litigation and regulatory investigations.
- Lead trial counsel to investment advisors, hedge funds in complex disputes in private US arbitration.
- Lead counsel to one of the country's largest real property lenders in a $35 million complex commercial action involving multiple suits in multiple forums; obtained full dismissal and client retained the property.
- Trial counsel in dismissal of multi-billion dollar auto finance company in securities fraud class action and related shareholder derivative litigation.
- Trial counsel in dismissal of former oilfield services company executive in securities class action and related derivative litigation.
- Trial counsel for a startup B2B e-commerce company against major domestic airline; after seven day hearing in international arbitration, obtained seven figure award for client.
- Lead trial counsel for Wall Street firms in dozens of customer initiated FINRA arbitrations.
- Trial counsel for commercial property developer in real property case involving four different bankruptcy and federal courts.
- Through the Lawyers on Loan program with the Dallas District Attorney's Office, prepared and tried over a dozen cases in three months.
- Legal 500, Recommended Lawyer, International Litigation, The Legal 500, 2021
- Legal 500, Recommended Lawyer, Securities Litigation: Defense, The Legal 500, 2021
- Texas Rising Star, securities litigation, Thomson Reuters, 2007 - 2013
- Texas Super Lawyer, securities litigation, Thomson Reuters, 2014 - 2019
- Co-author, "Lessons From Recent FINRA Cycle Exams," Law360, Sept. 6, 2016
- Co-author, "Fighting Elder Abuse And Defending The Decision To Freeze," Law360, June 21, 2016
- Co-author, "DOL Fiduciary Rule Has Financial Service Cos. In A Flurry," Law360, March 16, 2016
- Co-author, "Proposed Department of Labor rule will expand fiduciary responsibility," Norton Rose Fulbright Whitepaper, February 2016
- Chairman & CEO Peer Forum, NYSE Governance Services, New York Stock Exchange, April 9, 2014
- American Bar Association
- Dallas Bar Association
- Dallas Association of Young Lawyers
- Patrick E. Higginbotham American Inn of Court (2006, 2012-13)
Publication | April 18, 2023
Blog | March 23, 2023
Publication | March 20, 2023