FacultyFaculty/Author Profile
Michael T. Dorsey

Michael T. Dorsey

Annaly Capital Management & RCap Securities, Inc. and Fixed Income
Associate General Counsel and Chief Compliance Officer
New York, NY, USA


Mike advises executives of broker-dealers and investment advisers on all regulatory aspects of their businesses, including fixed-income trading and securities lending, the structure of the equities market and Regulation NMS, alternative trading systems and Regulation ATS, sponsored access/direct market access and high-frequency trading, registration of the firm and its associated/affiliated persons, financial and operational matters, market making and sales trading, asset management and gathering, risk management and compliance oversight, and supervisory systems and procedures.  Mike is a former member of the International Committee and Trading Issues Committee of the Securities Traders Association of New York (STANY), and of the Compliance Committee of the Securities Traders Association (STA).

For eight years, Mike held various positions of increasing responsibility in the Division of Market Regulation (n/k/a Division of Trading and Markets) at the Securities and Exchange Commission (SEC).  He first served as a staff attorney in the Office of Financial Responsibility and then in the Office of Trading Practices.  He later served as special counsel and then as a branch chief in the Office of Compliance Oversight and Examinations (now part of OCIE).  He left the SEC in June 1994 to pursue opportunities in the financial services industry.

Since leaving the SEC, Mike has held a variety of positions in the securities industry including:  1) associate general counsel Annaly Capital Management, Inc. (NYSE: NLY), focusing on its broker-dealer and investment adviser subsidiaries; 2) general counsel, corporate secretary, and director of global compliance at two public companies, Knight Capital Group, Inc. and Crown Financial Group, Inc.; 3) assistant general counsel in Prudential Investments at The Prudential Insurance Company of America advising institutional broker-dealers and corporate compliance; 4) general counsel and chief compliance office of WR Capital Management L.P., an investment adviser to a fund of funds and a leveraged, insurance dedicated fund; and 5) managing director of transaction services and compliance at the OTC Markets Group, Inc.

Before his SEC tenure and after graduation from law school, Mike held two clerkships, first with the Honorable Robert G. Dowd, Jr., of the Missouri Court of Appeals (E.D.), and then with the Honorable Roy W. Harper of the U.S. District Court (E.D. Mo.).  Mike has earned degrees from Georgetown University Law Center (LL.M Sec. Reg., May 1989), the University of Missouri-Columbia School of Law (J.D., May 1984), and St. Louis University majoring in Finance (BSBA, July 1981).

Mike lives in Chatham, New Jersey with Lynette, his wife of 28 years.  He has two grown children, Tara Marie and Mike Jr.  He is a veteran of the U.S. Navy having served on active duty for five years before being awarded an honorable discharge in June 1979.

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