Eliza Sporn Fromberg
Eliza Sporn Fromberg's practice concentrates on counseling broker-dealers, investment advisers, CFTC-regulated entities, and others in the financial services industry in connection with regulatory, compliance, enforcement, litigation and arbitration matters. She assists broker-dealers, investment advisers, and their associated persons in responding to regulatory examinations and inquiries and represents members of the financial services industry in enforcement proceedings before the SEC, Department of Justice, FINRA, and other SRO and state regulators. She also conducts internal investigations and counsels clients on the impact of the Dodd-Frank Act on derivatives and financial products.
Prior to joining Day Pitney, Eliza served as managing director and general counsel of ThinkEquity LLC, a boutique investment bank that provided equity research, equity financing, M&A advisory, institutional sales and trading, and wealth and asset management services to institutional investors, corporate clients, venture capitalists, entrepreneurs and financial sponsors.
From 2002 through 2011, Eliza was an associate at Debevoise & Plimpton LLP, where she specialized in complex commercial litigation, internal investigations and providing regulatory advice.
- Representation of an investment adviser in connection with the formation and operation of limited partnerships for the purpose of investing in specific private placements.
- Representation of a group of employees of a registered investment adviser in connection with those employees' purchase of the investment advisory business.
- Representation of a registered representative of a broker-dealer in FINRA arbitration brought by former employer.
- Representation of boutique investment bank in FINRA investigation of independence of research department from firm's investment banking activities.
- Representation of private bank in Department of Justice and Federal Reserve investigations of violations of Bank Secrecy Act and anti-money laundering statutes.
- Representation of mutual fund complex in multi-agency federal and state investigations of market timing and late trading.
- Representation of private equity firm in Delaware Chancery litigation seeking redemption of investment in portfolio company.
News, Publications & Presentations
- Quoted, "A Plan for How to Deal with Staff Pursuing Outside Business Activities," IA Watch, August 4, 2014
- Presenter, "Equity Crowdfunding Intermediaries: Opportunities and Challenge," CFIRA Webinar, May 1, 2014
- Co-author, "So You Want to Be a Crowdfunding Portal? Top 10 Traps for the Unwary," National Society of Compliance Professionals Currents Newsletter, February 2014
- Co-author, "SEC Grants Relief to M&A Brokers from Broker-Dealer Registration," Day Pitney Alert, February 7, 2014
- Co-author, "Top 10 Traps For The Unwary Crowd-Funding Portal," Law360, January 22, 2014
- Co-author, "So You Want to Be a Crowdfunding Portal? Top 10 Traps for the Unwary," Day Pitney White Paper, January 10, 2014
- Co-author, "New General Solicitation Rules Impact On Private Funds," Day Pitney White Paper, December 23, 2013
- Author, "Preventing Another Madoff: SEC Adopts New Custody Rules for Broker-Dealers," Day Pitney Advisory, October 29, 2013
- Author, "Inside FINRA's Proposed Rules To Illuminate 'Dark Pools'," Law360, October 28, 2013
- Speaker, "2013 Red Flag Seminar," Breard & Associates, Inc., October 24, 2013
- Author, "'Sexy Startup Seeks Accredited Investor'," Law360, October 23, 2013
- Author, "FINRA Proposes Rules to Illuminate "Dark Pools"," Day Pitney Alert, October 14, 2013
- Co-author, "SEC Makes Fundamental Changes to Private Capital-Raising Rules," VC Experts, July 31, 2013
- Co-author, "SEC Makes Fundamental Changes to Private Capital-Raising Rules," Day Pitney Alert, July 15, 2013
- Co-author, "Beyond a Culture of Compliance: Securities Regulators Emphasize Disclosure," Day Pitney Alert, May 29, 2013
- Co-author, "The Private Equity Fund Managers' Dilemma: Register as Broker-Dealers or (Potentially) Cease Collecting Fees for 'Investment Banking Activities'?" VC Experts, May 23, 2013
- Co-author, "CFTC External Business Conduct Standards - Temporary Relief to Foreign Exchange Transactions," Day Pitney Alert, May 8, 2013
- New York University School of Law, J.D., cum laude, 2001, Pomeroy Scholar; Florence Allen Scholar; articles editor, New York University Law Review
- Brown University, B.A., magna cum laude, 1995, Phi Beta Kappa; managing editor, College Hill Independent
- State of New York
- State of New Jersey
- U.S. District Court, Southern District of New York
- U.S. District Court, Eastern District of New York