Lawyers


New York
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Russell D. Sacks
Counsel




Education

University of Toronto, LL.B., 1998, with Honors
Columbia University, B.A., magna cum laude 


Practice

Mr. Sacks serves as counsel in the firm’s Broker-Dealer/Regulatory Group, providing service to clients and to the firm on a worldwide basis with respect to regulatory, transactional and commercial issues for regulated and unregulated market participants.

Representative transactions include the formation, registration and licensing of investment banks and hedge funds; work with regulated entities, including investment banks and investment advisers relating to new or revised regulations; advice relating to SEC, NASD, NYSE and state law examinations and investigations; and work with investment advisers and investment banks, completing various transactions including acquisitions of and investments in regulated entities, lending and structured transactions and other public and private offerings.


Recent Experience

Representations include:

  • Formation and registration of Banco do Brasil Securities LLC, the U.S. investment banking arm of the largest bank in Latin America
  • Expansion of Bradesco Securities, Inc., the U.S. investment banking arm of the largest private bank in Latin America
  • Merrill Lynch, in its 2005 acquisition of The Advest Group, Inc.
  • SunGard Data Systems, before the NYSE and the NASD, in its 2005 leveraged buyout by a consortium of private equity firms
  • Tudor Investment Corporation, in its seed investment in Two Sigma Investments
  • Technology Crossover Ventures, in its investment in Liquidnet, Inc., and Tudor Ventures, in its investment in Pipeline Trading Systems
  • The Securities Industry Association, as counsel to its Capital Markets Committee in respect of the corporate financing rules of the NASD
  • Underwriters, before the National Association of Securities Dealers, Inc., in offerings including the initial public offerings of China Netcom Group, China Telecom Corp., JetBlue Airways, Kinetic Concepts Inc., McCormick & Schmick’s Seafood Restaurants, PortalPlayer, Inc., Qimonda AG, and Texas Roadhouse Inc.
  • Appointed outside counsel to the Securities Industry Association for its 2005 comment letter to the SEC regarding amendment of the NASD Corporate Financing Rules in respect to shelf offerings, and 2006 SIFMA comment letter to the SEC regarding amendment of the NASD Corporate Financing Rules in respect to the NASD Conflict of Interest Rule
  • Request for and receipt of “no-action” relief letters from the SEC (see, e.g., SEC letter to Charles S. Gittleman dated May 30, 2001), and from the NASD (see, e.g., NASD letter to Russell Sacks dated January 15, 2004, and NASD letter to Charles S. Gittleman dated May 14, 2002)


Selected Professional & Business Activities

  • Member, American Bar Association
    • Committee on Federal Regulation of Securities, Subcommittee on NASD Corporate Finance Rules
    • Committee on State Regulation of Securities
  • Member, Securities Industry Association, Legal and Compliance Division
  • Invited lecturer, Investment Dealers Association of Canada October 2006 Investigators’ Conference
  • Guest lecturer in securities law, University of Toronto Faculty of Law, March 2005
  • Professional sabbatical at the University of Toronto Faculty of Law, February/March 2004
  • Panelist, “Cross-Border Transactions,” 2004 Canadian International Law Students Conference


Publications
  • Contributor to James Bartos, United States Securities Law:  A Practical Guide, 3rd Edition (Kluwer, 2006)
  • Charles S. Gittleman and Russell D. Sacks, “Anti-money laundering regulations:  Treasury Department enacts final rules implementing Section 312 of the PATRIOT Act relating to foreign correspondent accounts and private banking accounts,” Journal of Investment Compliance, Vol. 6, No. 4 (March 2006)
  • Charles S. Gittleman and Russell D. Sacks, “SEC approves uniform branch office definition for broker-dealers,” Journal of Investment Compliance (Vol. 6, No. 2, 2005)
  • Charles S. Gittleman and Russell D. Sacks, “How Plans to Curb Spinning Could Wrong-Foot Banks,” International Financial Law Review, January 2004 (Cover Article)
  • Contributor to James Bartos, United States Securities Law:  A Practical Guide, 2nd Edition
    (Kluwer, 2002)


Bar Admissions/Qualifications

New York
Ontario