Related services and key industries
Nationally recognized for his work with investment advisers and funds, Steven Howard has more than three decades of experience navigating corporate clients through all aspects of their national and international businesses.
A formidable financial services industry authority, he advises on fund formation, risk management, fiduciary issues, conflicts of interest, litigations, public disclosures in registration statements, compliance issues and contract disputes. Steve represents investment advisers, broker-dealers, hedge funds, venture capital funds, commodities funds, mutual funds, banks, insurance companies and their Boards of Directors. He has advised three major mutual funds with their market timing, late day trading and directed brokerage litigations. Steve has organized and represented the world's largest infrastructure funds for AIG in China, India, South America, Eastern Europe and Africa. Steve registered with the SEC one of the world's largest investment advisers resulting from Morgan Stanley's acquisition of Smith Barney. Steve has defended clients in SEC audits and enforcement proceedings and represented a NYSE listed closed-end fund in its successful defense in a hostile proxy takeover attempt. Steve has also advised on the first SEC registered mutual fund that does not charge an advisory fee.
Steve has had the distinct privilege to work directly with Nelson Mandela, Lee Kwan Yew, Founder and Prime Minister of Singapore, Hank Greenberg, Chairman of AIG, Moeen Qureshi, Interim Prime Minister of Pakistan and William L. Richter, Co-Founder of Cerberus Capital.
Steve co-authored a 550 page book, "Investment Adviser Regulation in a Nutshell," published by Thomson West that analyzes all aspects of the Investment Advisers Act of 1940. Steve is also an expert on all aspects of the Investment Company Act of 1940, including the exemptions from SEC registration as an investment company for private investment ventures and structured finance products, such as ABS, MBS, and CDOs.
Steve has extensive knowledge about the use of information technology in investment management, including blockchain and distributed ledger technologies, roboadvisers, digital infrastructure, FinTech investments and cybersecurity.
Steve taught investment management regulation as an Adjunct Professor at New York Law School.
Steve is also an art law expert and frequently advises art foundations, art owners and art financiers.
JD, University of Pennsylvania Law School, 1981
M.Phil, Columbia University Graduate School, 1978
MA, Columbia University Graduate School, 1976
BA, University of Wisconsin - Madison, 1975
- New York State Bar
- Adviser Representations:
- Registered one of the world's largest investment advisers that was created as a result of a mega-merger: Morgan Stanley/Smith Barney
- Represented a multibillion dollar adviser in three successive adviser acquisitions: Dalton, Greiner, Hartman & Maher
- Developed one of the first sophisticated risk management systems for a large international equity manager: Bank Julius Baer
- Represented advisers in SEC audits and compliance system overhauls
- Mutual Fund Representations:
- Organized, registered and represented over 30 bank advised money market funds: J.P. Morgan, Citi, Chemical Bank, BOA, Texas Commerce, Manufacturers Hanover, Trustmark, Intrust Bank, Premier Bank
- Organized, registered and represented closed-end funds, including The First Korea Fund and the First Brazil Fund: Scudder Stevens & Clark
- Led mutual fund reorganizations, mergers and acquisitions: Fidelity, John Hancock, MacKay Shields, Raymond James
- Advised boards on fiduciary obligations, negotiations, contracts, disclosures and compliance: Fidelity, Goldman Sachs, Templeton, Franklin, Janus, San Diego Trust and Savings Bank
- Represented insurance companies' fund groups: John Hancock, Home Life, Mass Mutual New York Life, Transamerica
- Represented broker-deal fund groups: Gruntal, Merrill Lynch, Morgan Stanley, Raymond James, Smith Barney
- Private Fund Representations:
- Organized and represented the world's largest infrastructure funds for AIG in China, India, South America, Eastern Europe and Africa
- Organized and represented hedge funds, private equity funds, funds of funds, venture capital and real estate funds
- Represented principals in private fund mergers and spin-offs
- Represented many institutional investors in negotiating investments in private funds
- Fund and Adviser Litigations:
- Represented a major mutual fund adviser in its market timing case before the SEC: Bank One
- Represented a closed-end fund in its successful defense in a proxy take-over attempt: Clemente International Fund
- Represented principals in disputes with fund and adviser management
- Represented an adviser in an SEC enforcement action alleging fraud: Home Capital
- IFLR1000 – United States, Euromoney Institutional Investor PLC, 2018
- "SEC Quarterly Round-Up," Norton Rose Fulbright Asset Management Quarterly, 5th Edition, April 5, 2017
- "SEC Breaks New Ground in the Foreign Distribution of US Mutual Funds," Regulation Tomorrow, April 2017
- "Federal Judge Finds No Attorney-Client Privilege For Independent Mutual Funds Trustees," Norton Rose Fulbright Regulation Tomorrow, January 10, 2017
- "SEC Quarterly Round-Up, Norton Rose Fulbright, Asset Management Quarterly - Fourth Edition, December 15, 2016
- "US Supreme Court Paves the Way for Sweeping Federal Regulatory Challenges," WestLaw Journal of Bank and Lender Liability, June 1, 2015
- "Perez v. Mortgage Bankers Association and its implications for the SEC," WestLaw Journal of Securities Litigation and Regulation, August 20, 2015
- "The Heartland Funds: Factors that Trigger a Mutual Fund Receivership," The Investment Lawyer, June 2012
- Co-author, "Investment Adviser Regulation," West Law, 2008
- "The Heartland Funds' Receivership and its Implications for Independent Mutual Fund Directors," 51 Emory Law Journal 153 (Winter 2002)
- New York City Bar Association: Private Funds Committee; and Mutual Funds Committee
- Investment Company Institute
- Independent Directors Council
Publication | September 2018
Publication | September 2018
Publication | June 23, 2018
Publication | May 2018