For over 25 years, Michael Scanlon has provided investment advisers and other financial services firms with legal advice and assistance on a wide range of business-critical matters, helping them grow their businesses, serve clients and comply with applicable laws and regulations.
From December 2011 to April 2019, Michael served as Senior Managing Attorney and Chief Compliance Officer of 1919 Investment Counsel, a wealth management firm and fund manager with AUMs of approximately $10 billion and offices in Baltimore, Birmingham, Cincinnati, New York, Philadelphia and San Francisco. Working with the business, he led 1919’s legal and compliance functions and updated and implemented the firm’s SEC and OCC compliance programs.
From June 2013 to September 2015, Michael also served as Chief Compliance Officer of LMM LLC (now named “Miller Value Partners LLC”), an investment adviser and fund manager that had a services arrangement with 1919. Also, in 2015, as a member of an industry panel, he conducted a training session for SEC Staff at SEC Headquarters in Washington, DC.
Before joining 1919, Michael was an Associate General Counsel at Legg Mason (2005 to 2011) and Citigroup Asset Management (1998 to 2005). He supported the SMA businesses of these firms by negotiating SMA and Model Portfolio agreements, preparing SEC filings, performing acquisition and restructuring work, and assisting on many other legal and compliance matters. At Citigroup, Michael was instrumental in structuring the offering of SMAs to clients of Citigroup’s Private Bank and Consumer Bank.
Before joining Citigroup, Michael was a Junior Partner and Associate at the law firm of Hale and Dorr LLP (now named “WilmerHale”), where he performed legal work for investment advisers, broker-dealers, venture capital firms, and industrial and technology companies.
Michael has provided legal advice and assistance in many financial services areas, including:
- SEC, OCC & ERISA Compliance – Policies and Procedures, Regulatory Exams, SEC Filings and Disclosures, Fiduciary and Trading Issues, Marketing Materials and RFPs, Training, Testing, GIPS, OCC Reg. 9 (including CIFs), ERISA Prohibited Transactions.
- Separately Managed Accounts (SMAs) & Model Portfolios – Creation, Distribution Agreements, Trading, Performance Advertising.
- Mutual Funds & Private Funds – Creation and Registration, Agreements, Disclosures, Investment Limits, Share Classes, Expense Allocations, SEC Filings.
- Agreements – Client Agreements, Distribution Agreements (SMA, Model Portfolio, Referral), Vendor Agreements, Acquisition-Related Agreements.
- Acquisitions, Restructurings & Sales – Acquisitions of 1919’s NYC Family Office Team and Birmingham and San Francisco Offices, Restructuring of 1919’s Trust Company, Sales of 1919 to Stifel Financial and of Legg Mason’s SMA implementation business to Citigroup.
- Firm Governance – Conduct of Trust Company Board Meetings and Investment Adviser Operating Committee, Investment/Brokerage/Risk Committee and Cybersecurity Committee Meetings.
Michael is a member of the Maryland and Massachusetts Bars. He received his J.D. degree from Northwestern University School of Law, where he served as an Articles Editor on the Law Review and represented clients as a 3L in the Legal Clinic. Michael received his B.S. degree in Applied History, with University Honors, from Carnegie Mellon University.