Faegre Drinker announced today that Olawalé (Walé) Oriola has joined the firm as counsel in the investment management practice group in the Washington, D.C. office. He comes to the firm from the U.S. Securities and Exchange Commission (SEC) where he was senior counsel in the Division of Investment Management (“IM”).
Oriola will draw on his SEC experience to provide counsel to investment management clients on a range of regulatory, corporate, and transactional matters. He’ll represent investment advisers, registered investment companies and their independent directors on the formation, offering and operation of investment products – including open-end and closed-end funds, multi-class funds and fund of funds. Oriola will advise clients on all stages of fund operation, including fund and product development and launches, ongoing SEC regulatory, compliance and registration requirements and ESG matters. He’ll also counsel clients in assessing and developing compliance programs, represent clients before the SEC staff with respect to examinations, exemptive orders and other matters, and advise investment advisers on various aspects of the Investment Advisers Act of 1940.
“Walé brings an insider perspective and wealth of regulatory knowledge from his time at the SEC and FINRA that our clients will benefit from,” said investment management practice leader Joshua Deringer in a statement. “In particular, his experience in key areas such as Reg BI compliance and ESG will be a great asset as clients are increasingly seeking advice in these areas. We are thrilled to welcome him to the team.”
In his role as senior counsel in IM’s Rulemaking Office, Oriola participated in the development of policy and rulemaking relating to investment advisers and investment companies, most recently the adoption of the IABD rulemaking package, proposal stage of the rules related to investment companies and investment advisers to address matters relating to ESG factors, amendments to the Custody Rule for investment advisers, and amendments to the Funds Name Rule. He also served as principal staff counsel for the ESG Subcommittee and the Diversity and Inclusion Subcommittee of the SEC’s Asset Management Advisory Committee, where he provided technical, governance and compliance guidance to members of the committee.
Prior to joining the SEC, Oriola worked in the Office of Fraud Detection and Market Intelligence at FINRA. There, he conducted investigations of potential violations of securities law and FINRA rules by examining public statements, stock promotional materials and trading data.
Oriola earned his bachelor’s degree from City University of New York, Herbert Lehman College, his Juris Doctor from Hofstra University, Maurice A. Deana School of Law, and his certificate in Securities and Financial Law from Georgetown University Law Center.
Faegre Drinker’s investment management practice helps clients solve complex regulatory and structural challenges — with an eye to mitigating operational and regulatory risk. We advise national and multinational registered and private funds and their sponsors, investment advisers, broker-dealers and other institutional market participants on business formation and growth. The group draws on deep in-house and industry experience to understand client businesses — and business objectives — and develop bespoke solutions that are practical and forward-thinking.