Morgan Lewis

David C. Boch

Partner

David C. Boch regularly advises clients on all aspects of compliance with federal, state, and SRO regulations applicable to investment companies, investment advisers, broker-dealers, and transfer agents. David also conducts internal investigations and regularly represents clients in regulatory proceedings before the SEC and FINRA, and defends clients in private litigation in both state and federal courts and arbitrations. Clients praise him for his “practical approach to complex broker-dealer enforcement issues,” his “technical ability” and “subject matter expertise.”

Extended Profile

He also regularly advises firms on issues relating to the distribution and sale of mutual funds. He advises clients concerning the design and implementation of supervisory and compliance programs, the review of existing policies and procedures, the preparation for and conduct of examinations, and registration issues.David speaks regularly at FINRA conferences and industry association meetings, including the SIFMA Annual Compliance and Legal Seminar. He has been repeatedly recognized as a leading lawyer in Chambers USA for Securities Regulation and Enforcement as well as Broker-Dealer (Compliance).

Before joining Morgan Lewis, David was a partner in the financial institutions regulatory, enforcement, and litigation practice at another international law firm.

Education

  • The George Washington University, 1976, Master of Public Administration
  • Harvard College, 1975, Artis Baccalaureate
  • Suffolk University Law School, 1979, Juris Doctor

Admissions

  • Massachusetts
  • US Court of Appeals for the First Circuit
  • US Court of Appeals for the Seventh Circuit
  • US District Court for the District of Massachusetts
  • US District Court for the Eastern District of Wisconsin

Clerkships

  • Clerkship to Judge Robert W. Warren of the US District Court for the Eastern District of Wisconsin (1979 - 1981)

Awards and Affiliations

Ranked, Financial Services Regulation: Broker-Dealer (Compliance); Securities Regulation: Enforcement, Chambers USA: America’s Leading Lawyers for Business (2008–2017)

Recognized, Top Lawyer in Securities Litigation, Super Lawyers Corporate Counsel Edition (2009)

Chairman of the Broker-Dealer Subcommittee of the Securities Litigation Committee of the Litigation Section of the ABA (2009–present)

Chairman, Boston Bar Association’s Business Section Securities Law Committee (1996–1998)

Board of Directors of National Society of Compliance Professionals (1994–1998)

Member, American Bar Association

Member, Boston Bar Association

Member, Massachusetts Bar Association

Publications

9/9/2016 - In Eagerly Awaited Ruling, AXA Beats Excessive Fee Claim

8/15/2014 - Second Circuit Defines ‘Customer’ Under FINRA Arbitration Rules

9/16/2013 - SEC Issues First Order Enforcing Rule Against Misleading Chief Compliance Officers (Rule 38a-1(c))

3/26/2013 - SEC’s Division of Investment Management Issues Guidance Update on Advertisements and Social Media

12/17/2012 - FINRA Issues Guidance Narrowing the Scope of its New Suitability Rule

10/1/2012 - Financial-Fraud-Law-Report

9/24/2012 - First Circuit Affirms Customer Suitability Obligations Under FINRA Rules

9/11/2012 - SEC Financial Literacy Study — a Harbinger of Future Regulatory Initiatives on Disclosure and Customer Communications

8/23/2012 - SEC Issues Report on the Municipal Securities Market

7/2/2012 - FINRA’s New Rules on Communications With the Public Are Finally Approved

5/31/2012 - FINRA Issues Additional Guidance on its Soon to be Implemented New Suitability Rule

5/22/2012 - FINRA Amends Rules to Provide That Whistleblower Disputes are No Longer Subject to Mandatory Arbitration

4/16/2012 - FINRA Seeks Comment on Proposed “In re Expungement Rule” Applicable to Unnamed Parties in Arbitration Proceedings

3/12/2012 - SEC and CFTC Issue Joint Proposed Rules and Guidelines to Address Identity Theft

3/7/2012 - FINRA Requests Comment on Ways to Facilitate and Increase Investor Use of BrokerCheck Information

3/6/2012 - First Circuit Limits Breadth of Whistleblower Protection Provision Under Sarbanes-Oxley Act of 2002

2/1/2012 - FINRA Amends Proposal Requiring Filings for Private Placements

1/10/2012 - OCIE’s Social Media Alert: Proceed With Caution, Maintain Required Records, and Adopt and Implement Robust Policies and Procedures

1/3/2012 - FINRA Revises Proposed Communications With the Public Rule Yet Again—SEC Seeks Further Comment

8/25/2011 - FINRA Issues Further Clarification on Use of Social Media

6/22/2011 - Supreme Court Janus Capital Group Decision Clarifies Scope of Primary Liability Under Rule 10b-5; Investment Adviser Not Liable for Statements in Funds’ Prospectuses

5/5/2011 - FINRA’s Updated Proposed Rule 2341 Would Require Broad New Pre-Sale Cash Compensation Disclosures by Members Selling Mutual Funds

3/23/2011 - SEC Proposes Amendments to Lost Securityholder Rule to Add Broker-Dealers and to Notify Customers of Non-Negotiated Checks

12/17/2010 - Unanswered Questions From Most Recent Mutual Fund Excessive Fee Case

9/9/2010 - FINRA Responds to Comments – SEC Approves FINRA Rule Change Relating to Outside Business Activities and Considers FINRA Proposal for New ‘Know Your Customer’ and Suitability Rules

7/28/2010 - Massachusetts Supreme Judicial Court Upholds the Authority of the Secretary of the Commonwealth to Exercise Personal Jurisdiction Over an Out-of-State Hedge Fund and its Employees Who Attached Marketing Materials Related to its Unregistered Fund Offerings

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Events

5/1/2018 - SIFMA Compliance & Legal Society Boston Regional Seminar

3/13/2016 - SIFMA Compliance and Legal Society’s Annual Seminar 2016

3/1/2016 - 2016 SEC Examination and Enforcement Trends Roundtable Road Show – Boston