Paul B. Uhlenhop

In Paul's distinguished career, he has worked on major initiatives in the financial services industry from compliance, litigation and business perspectives. Through his varied work, Paul has advised and mentored members of industry, government and regulatory bodies, in Chicago and nationwide.

Since 1962, when he joined the Securities and Exchange Commission in Washington, D.C., Paul's practice has focused on major developments in financial services. In 1971, he came to Lawrence Kamin, and since then has lent his experience in assisting our clients. Today, Paul is regarded as one of the leading authorities of the futures and securities bar. His clients have included multibillion-dollar, integrated international entities, as well as single-employee broker-dealers, and he has handled matters ranging from organization of a simple brokerage to crisis management for major firms and industry members. Paul has substantial experience consulting on financial reporting, including complex net capital and financial responsibility law.

Paul has over 40 years of extensive experience in working with both local and national regulators. He has taught as an Adjunct Professor of Law, graduate-level courses on securities and futures regulation and enforcement law at both the University of Illinois College of Law and the IIT Kent School of Law. Many of his former students now practice in Chicago and nationwide in law firms and with regulatory authorities and exchanges. He has served as a member of the Planning Committee of the Ray Garrett Jr. Corporate and Securities Institute at Northwestern University College of Law for many years, and continues as a frequent panelist and panel chair at securities, futures and derivatives conferences, and regularly presents at programs sponsored by the American Bar Association, the Futures Industry Association, the National Society of Compliance Professionals, the National Regulatory Service and the Chicago Bar Association.

Paul has been a member of the Board of Editors of Futures & Derivatives Law since 2001 and has been a member of the Editorial Board of Practical Compliance & Risk Management for the Securities Industry since its commencement in 2007.

Paul is actively involved in various community service groups, including having chaired the board of directors of The Cradle Foundation, one of the nation's largest adoption services agencies, and currently serves on the board of directors of the Ravinia Festival. A former Navy officer, Paul remains an avid sailor. Paul and his wife, Virginia, reside in Wilmette, Illinois.

Articles & Presentations by this Attorney

12/2011, Outside Business Activity, Practical Compliance and Risk Management for the Securities Industry, November-December 2011

1/2011, When Does A Broker-Dealer Become an Investment Adviser?

NSCP Currents, January / February 2011 Special Edition

6/2010, Recent Net Capital Increases for FCMs and IBs, Futures & Derivatives Law Report, June 2010, Volume 30, Issue 6

5/2010, Clearing Arrangement for Introducing Broker-Dealers, Chapter 17A, Broker-Dealer Regulation.

This material has been published as part of "Broker-Dealer Regulation" by Practising Law Institute, and is available at 1-312-462-0399; www.pli.edu © The Practising Law Institute. Reproduced with permission. All rights reserved. This publication is available at: http://www.pli.edu/product/book_detail.asp?id=17925&t=TBR0_8AEM1

5/2009, Outside Business Activity (Part 3 of 3), NSCP Currents, March/April 2009

3/2009, Outside Business Activity (Part 2 of 3), NSCP Currents, January/February 2009

1/1/2009, Outside Business Activity (Part 1 of 3), NSCP Currents, November/December 2008

10/21/2008, National Society of Compliance Professionals, National Membership Meeting. Philadelphia, Pennsylvania.

4/1/2008, FINRA Proposes Guidance with Respect to International Prime Brokerage Transactions Effecting United States Executing Brokers, Prime Brokers and Custodians, Practical Compliance & Risk Management For the Securities Industry, Mar/Apr 2008

1/1/2007, Thoughtful Analysis - Key to Successful Compliance a Primer for New Compliance Officers, NSCP Currents, Jan/Feb 2007

10/1/2006, Clearing Arrangements for Introducing Firms - Who's Responsible?, NSCP National Membership Meeting, Fall 2006

5/1/2006, Bankruptcy Judge Preliminarily Holds REFCO's Unregulated Unit to be a "Stockbroker" for Purposes of the Bankruptcy Code, Futures Industry Association - Law & Compliance Division Workshop Portfolio Margining Issues

3/1/2006, Uniform Definition of Branch Office Explained and Clarified in New FINRA and NYSE Releases, NSCP Currents, March/April 2006

8/1/2005, Critical Elements of an Effective Supervisory Structure, Securities & Commodities Regulation, Vol. 38, No. 14, Aug. 2005

6/1/2005, When is an Unregulated Derivatives Dealer Considered to be a "Stockbroker" for Purposes of the Bankruptcy Code?, Thomson/West Legalworks

5/1/2005, Impact on Broker-Dealers From the New SEC Rule Narrowing the Exemption for Broker-Dealers From the Investment Advisers Act, NSCP Currents, May/June 2005

5/1/2005, Key Points for Introducing Broker-Dealers to Understand in Connection With Clearing Arrangements, NRS Fall Compliance Conference - NSCP Currents, May/June 2005

12/1/2004, Who is a Proprietary Trader 2004?, Futures & Derivatives Law Report

10/1/2004, Broker-Dealer Supervision of Branch and Remote Offices, National Regulatory Services Fall Compliance Conference Oct. 2004

8/1/2004, A Trap for the Unwary Attorney SEC Rule 13b2-2: Improper Influence on Conduct of Audits, American Bar Association, Section of Litigation, Securities Litigation Committee, Securities Litigation, Vol. 15, No. 1, Fall 2004

11/1/2003, Amendments to SEC Custody Rule 206(4)-2 Will Affect All Investment Advisers, NSCP Currents, Nov/Dec. 2003

10/1/2003, Personal Trading Policies and Procedures Including Insider Trading Rules, National Society of Compliance Professionals - National Membership Meeting, Fall 2003

10/1/2003, Broker-Dealer Supervision and Surveillance, eMind, Oct. 2003

6/1/2003, Research Analyst Conflicts, National Society of Compliance Professionals - 2003 Midwest Regional Meeting

5/1/2003, Broker-Dealer Compliance I, Futures Industry Association - Law & Compliance Division 25th Annual Workshop

4/1/2003, Post-Enron Corporate Responsibility and Related Reforms: Part I - Outline of Sarbanes-Oxley Act of 2002: Impact on Broker-Dealers and Investment Advisors; Part II - Outline Guide to the Sarbanes-Oxley Act of 2002, National Regulatory Services Spring Compliance/Risk Management Conference

4/1/2003, Security Futures Two Years After the CFMA: An Assessment, Futures & Derivatives Law Report, Vol 23, No. 2

2/1/2003, SEC Proposed Rule 13b2-2: Improper Influence on Conduct on Audits, American Bar Association Regulation of Futures and Derivatives Instruments Committee Meeting

9/1/2002, Conflicts Regarding Research Recommendations, National Regulatory Services Fall Compliance Conference Sept. 2002

8/16/2002, The Sarbanes-Oxley Act of 2002 Impact on Broker-Dealers, NSCP Currents

8/1/2002, A Pool Too Big for a FCM or a Broker-Dealer, Futures & Derivatives Law Report, Vol. 22, No. 5

6/2/2002, Anti-Money Laundering Provisions for Broker-Dealers, The Review of Securities and Commodities Regulation, Vol. 35, No. 11

6/2/2002, Investment Adviser Conflicts, NSCP Midwest Regional Meeting

6/2/2002, General Session: Dialogue with Area Regulators, including Asset-Based Brokerage and Unhbundled Brokerage Fees, Securities Futures - A New Frontier and Anti-Money Laundering Provisions for Broker-Dealers, National Society of Compliance Professionals Midwest Regional Meeting

5/1/2002, Security Futures-A New Frontier, The Review of Securities and Commodities Regulation, Vol. 35, No. 10

10/17/2001, Advanced Concepts of Broker-Dealer Compliance, National Society of Compliance Professionals 2001 National Membership Meeting

10/1/2001, Capital, Customer Funds and Margin After the Commodity Futures Modernization Act of 2000, Futures & Derivatives Law Report, Vol. 21, No. 7

9/1/2001, Managing Regulatory Investigations and Examinations for Cause, National Regulatory Service Fall Compliance Conference

6/5/2001, Regulatory Examinations for Cause, National Society of Compliance Professionals Midwest Regional Meeting

5/24/2001, Supervision of Branch Offices, OSJ's and Offsite Brokers and Independent Contractors, National Regulatory Services Branch Office Compliance Practice Conference

4/30/2001, Broker-Dealer Customer and Recruiting Disputes, Glasser LegalWorks, Broker Dealer Litigation

1/1/2001, Securities Law, Chapter 6-Regulation of Broker-Dealers, IICLE

11/8/2000, Who is a Proprietary Trader? A Changing and Rocky Landscape. Futures & Derivatives Law Report, Vol 20, No. 8

9/1/2000, Securities Sites and Online Trading Become Regulatory Priorities, Journal of Taxation of Investments

8/1/2000, Regulation of Electronic Communication, Execution and Delivery of Documents to Customers of Broker-Dealers, NSCP Currents

7/1/2000, Regulation of Electronic Communication, Execution and Delivery of Documents to Customers of FCM/Bds, American Bar Association Annual Meeting, International Law Section Panel on Securities Transactions and Securities Markets in the Age of Cyberspace

3/1/2000, When Broker-Dealer Activities Require Investment Adviser Registration: SEC Grants Interim Relief and Proposes Changes, NSCP Currents

12/1/1999, CFTC Recommendations Regarding the NFA's Arbitration Program, Broker-Dealer Dispute Report

11/1/1999, When is an FCM, CTA or Pool a Securities Broker-Dealer, an Investment Adviser or an Investment Company Under the Securities Laws?, Futures & Derivatives Law Report

1/1/1999, CFTC & SEC Capital Rules for Over-The-Counter Forwards, Spot and Options Transactions, Futures & Derivatives Law Report

1/1/1999, Investment Advisor Growing Pains, NSCP Currents, Nov/Dec. 1998 (Part I), Jan/Feb. 1999 (Part II)

9/1/1998, State and Federal Court Litigation Involving Futures and Derivatives, 8 Securities News, No. 2

7/1/1998, Checklist for Investment Advisor Agreements, NSCP Currents

7/1/1998, Securities Law, Chpt. 16, Special Problems of Insiders, Chpt. 10, Overview of Regulation of the Securities Business, IICLE

11/1/1997, An Appeal for Harmonization of the Financial Responsibility Rules of the SEC and the CFTC, 20th Annual Commodities Law Institute

10/1/1997, Soft Dollars Disclosures, Agreements, Record-Keeping and Compliance, National Society of Compliance Professionals Annual Meeting

8/1/1997, FCM Documentation for Exchange Traded Futures Contracts & Options, American Bar Association Annual Meeting

6/1/1997, SEC Order Execution Rules & Best Execution Responsibilities of Broker-Dealer Initiating Customer Orders, National Society of Compliance Professionals Midwest Regional Meeting

12/1/1996, FCM's: Guarantors of Customers' Funds?, Futures & Derivatives law Report, Report 10, p. 1

10/1/1996, What Every Compliance Professional Should Know About Derivatives, National Society of Compliance Professionals Annual Meeting

9/1/1996, Swaps are Nothing But Contracts...Right Now, Securities News

6/1/1996, Investment Adviser Employee and Proprietary Trading Policies and Surveillance, National Society of Compliance Professionals Midwest Regional Meeting

1991, What Every Securities Litigator Should Know About Commodities Litigation, ALI ABA

1984, "Jury Instructions" and "Enforcement of Discovery," Chapters of Matthew Bender's Federal Litigation Guide, 1984.

Experience

Lawrence, Kamin, Saunders & Uhlenhop LLC

- Partner: 1971-Present

Securities & Exchange Commission,

- Washington, D.C., 1962-1963

Professional Memberships & Affiliations

American Bar Association

- Business Law, Antitrust Law, Litigation,

- and International Law Sections

- Securities Law Committee

- Futures and Derivatives Law Committee

- Broker-Dealer Subcommittee

- Chairman of Futures Litigation

- Subcommittee, 1998-2004

New York State Bar Association

Illinois Bar Association

- Securities Law Committee

- Antitrust Committee

Chicago Bar Association

- Securities Law Committee, Chairman

- 1977-1978

- Futures Law Committee, Chairman

- 1999-2000

- Antitrust Law Committee

- Broker-Dealer Subcommittee, Chairman

- 1973-1977, 1982-1996

- House Committee, 1980-1990

- Continuing Legal Education Committee,

- 1989-1990

National Society of Compliance Professionals

- Board member, 2002-2005

University of Illinois College of Law

- Board of Visitors, 1981-1988

- President of Board of Visitors, 1985-1987

Futures and Derivatives Law Reporter

- Board of Editors, 2001-Present

Practical Compliance & Risk Management for the Securities Industry

- Board of Editors, 2009-present

Global Markets Journal

- Board of Editors, 2000-2004

University of Illinois College of Law

- Adjunct Professor of Law Futures and Derivatives Regulations and Litigation (1985-2008)

IIT Kent College of Law Adjunct Professor of Law (1983-2006)

Civic Organizations

Ravinia Festival Association

- Board Member, 1991-1999, 2000-Present

The Cradle Foundation

- Board of Trustees, 1985-Present

- Chairman, 2000-2004

- Vice Chairman, 1994-2000

- Secretary, 1989-1995

Wilmette Harbor Association

- Special Counsel to the Board, 1984-2004

- President, 1981-1982

- Board Trustee, 1976-1984