Overview

A partner in the firm's Corporate Transactions & Securities and Investment Management practices and the Family Office Services group, Richard primarily concentrates his focus on securities matters.

Richard routinely advises a variety of investment management clients, including private equity funds, hedge funds, pension funds, fund of funds, independent sponsors, venture capital funds, broker-dealers, registered investment advisers and their investors, sponsors and principals.

Additionally, Richard counsels family offices on various issues including family office structure and management, and regulatory matters.

Richard's extensive capabilities include:

  • formation of private offerings including family investment funds, hedge fund offering documents and exhibits, and related securities filings;
  • family office governance;
  • venture capital and private placements;
  • advising on activist solicitations;
  • forming and registering broker-dealers with the Financial Industry Regulatory Authority (FINRA) as well as ongoing compliance advice for broker-dealers;
  • preparing documents and filings with Securities and Exchange commission for public offerings, 8-K and 13-D submissions;
  • forming Investment Advisers and rendering on-going compliance advice;
  • providing state securities and "Blue Sky" advice;
  • defending clients in SEC enforcement matters;
  • defending broker-dealers and registered representatives before the FINRA; and
  • serving as Counsel of special committees for public companies.

Throughout his career, Richard has counseled public and private financial services companies and their directors, family offices, investment advisers and broker-dealers, hedge funds, private equity funds and offshore funds.

Outside of his law practice, Richard served three consecutive terms on the Securities and Exchange Commission's (SEC) Business Forum on Small Capital Formation. The forum has published recommendations to the White House. He is also a Board Director of The Hedge Fund Association.

Recognized as a legal authority in his area, Richard is frequently called upon to participate in prominent Family Office and Investment Management conferences, including SALT Las Vegas, and is requested by the media to give quotes, opinions and interviews.

For more information please view the following sites:

Publications

Following news stories incorporate interviews with or background information provided by Richard Heller:

  • “No debate about it: OCIE examiners displaying interest in pay-to-play this election year,” IA Watch, September 21, 2016
  • “The New (and Difficult) Environment for Emerging Managers,” EisnerAmper Asset Management Intelligence Newsletter, May 6, 2015
  • Richard Heller quoted in “FF Alts Feature: Be Cautious with Seed Capital, Start-Up Hedge Funds Warned,” Fundfire, March 4, 2015
  • Richard Heller quoted in “FF Alts Feature: Second Regulator Lifts Hedge Ad Ban,” Fundfire, September 17, 2014
  • Hedge Fund Administration Masterclass, “Hedge Fund 101- Start Up Considerations,” Asset TV, April 2014
  • Richard Heller quoted “Divide and Conquer," HFM Compliance, April 2014
  • "Gary Gesler's Tenure as CFTC Head Ends," HFMWeek, January 3, 2014
  • “Time Will Tell” – Hedge Fund Management – July 2013
  • Richard Heller quoted in “SEC chief's aggressive moves show she's more than just a tough talker,” Pension&Investments,  August 5, 2013
  • Richard Heller quoted in"SEC's SAC Charges May Assist DOJ's Case," FINalternatives, July 22, 2013
  • Richard Heller quoted in "Private Funds Face Broker-Dealer Registration," Markets Media, May 28, 2013
  • Hedge Fund Law Report, quoted in "How Should Hedge Fund Managers Approach the Allocation of Expenses Among Their Firms and Their Funds"
  • Evestment/HSN, quoted in connection with the impact of the JOBS Act in "HS Industry Insiders Predict Positive Future"
  • Hedge Fund Alert Article, quoted in "New Appointment of SEC Hedge Fund Inspections Chief," July 2012
  • "HF Lawyer Discusses Loosening of Solicitation Rule," eVestment|HFN, June 2012
  • "JOBS Act & Dodd Frank," Global Custodian TV, June 2012
  • "New Managers May be Facing a Perfect Storm of Obstacles," Opalesque Group, May 2012
  • "Newly Approved JOBS Act Could Offer Investment Benefits for Hedge Funds," HFMWeek, March 2012
  • "Republican Front-runner Romney Finds Favour with Hedge Funds," HFMWeek, February 2012
  • "COMPLY: Advice to Latecomers for Hedge Fund Registration," Thomson Reuters, January 2012
  • "Was Bear Stearns Case a Show Trial?", HFMWeek, November 2009
  • "SEC Bill Is In Hedge Funds' Best Interests," HFMWeek, November 2009
  • "My Life in Hedge Funds," HFM Week, June 2009
  • "Putting Hedge Funds on a Tighter Leash," Barron's, June 2009
  • "Hedge Funds Face ERISA Compliance," Markets Media Online, May 2009
  • "Funds, Investors Assess Operations in Madoff Wake," Securities Industry News, February 2009
  • "Pursuit Plans Redemptions Restructuring," HFM Week, January 2009
  • "Get Over The Hedge," Forbes.com, November 2008
  • "Hedge Fund Inquisitor," HFM Week, November 2008
  • "A Change Is Gonna Come," Investment Dealers' Digest, June 2008
  • "Another Hedge Fund Acquisitions Wave," HFMWeek, April 2008
  • "Hedge Funds Ramp Up Risk Measures," Investment Dealers' Digest, November 2007
  • "Hedge Funds Face Uncertain Future," Investment Dealers' Digest, October 2007
  • "Fed's Rate Cut Boosts Confidence in Alternatives," HFM Week, October 2007
  • "Crisis? What Crisis?", HFMWeek, August 2007
  • "Hedge Funds: Rewarding Risk," Business Courier Roundtable Series, June 2007
  • "'Sub-primes' of a Different Kind are Altering the Prime Brokerage World," HFM Week, June 2007
  • "Guidelines, Says Thompson Hine," Black Enterprise Magazine, January 2007
  • "Law Firm Warns Hedge Funds to Review Brokerage Relationships," Compliance Reporter, January 2007
  • "The End of Easy Money," Forbes, January 2007
  • "Hedge Funds Face January 24 SEC Deadline for Soft Dollar Arrangements; Brokers Will Need to Work With Funds to Satisfy New Guidelines, Says Thompson Hine," MarketWatch.com, January 2007
  • "Hedge Funds Face January 24 SEC Deadline for Soft Dollar Arrangements; Brokers Will Need to Work With Funds to Satisfy New Guidelines, Says Thompson Hine," Morningstar, January 2007
  • "SEC Keeps Brokers in Line With New Soft Dollar Rules," Securities Law 360, November 2006

Following articles were authored or co-authored by Richard Heller:

Presentations

FAMILY OFFICE

  • Presenter, “Investment adviser Due Diligence Processes for selecting Alternative Investments and their respective Managers,” Palm Beach Investment Research Group, Inc. Family Office Services meeting; Florida, April 2014
  • Family Office Association, 2014 Spring Global Summit, Westchester, New York; April 2014

INVESTMENT MANAGEMENT | HEDGE FUND

  • Panelist, “SEC Oversight of Hedge Funds and How the Industry is Adapting: Emerging Trends, Areas of Focus, and Examination Considerations,” OFA Hedge Fund Compliance, October 2016
  • Moderator, "Investment Decision-Makers," Thompson Hine 11th Annual Hedge Fund Seminar, New York, October 2015
  • Panelist, “IA Watch: The SEC’s Pay to Play Rule; Its Impact on RIAs and Broker-Dealers,” Webinar, October 2015
  • Founder and Host, Thompson Home Women In Investments networking events; New York; February 2014
  • Presenter “Preparing for an SEC Examination: How an Investment Adviser Can Get Ready,” CohnReznick, October 2014
  • Moderator, “Women in Hedge Funds," Thompson Hine 10th Annual Hedge Fund Seminar, New York, October 2014
  • Panelist, Hedge Fund Association (HFA) Symposium –“Hedge Funds & the Regulatory Road Ahead,” Washington, D.C., May 2014
  • Guest Lecturer, “Current Broker Dealer and Hedge Fund Issues,” Rutgers University, November 2013
  • Moderator, “Regulatory & Compliance Issues Confronting Hedge Funds Today," Thompson Hine 9th Annual Hedge Fund Seminar, New York, October 17, 2013
  • Panelist, "Hedge Funds & the Regulatory Road Ahead," HFA Washington, DC Symposium, June 2013
  • Panelist, "Broker Dealer Registration and Compliance Issues," Pace University Lubin School of Business, February 2013
  • Moderator and panelist, "Hedge Funds: The JOBS Act and Dodd-Frank – Two Years Later," Thompson Hine Seminar New York, October 2012
  • Panelist, "Best Practices for Fund Managers: Regulatory and Compliance Updates", FINforums Annual Hedge Fund Summit, September 2012
  • Panelist,"The Evolution of the Hedge Fund Industry In A Newly Regulated World," Sponsored by Bloomberg Government, July 2012
  • Panelist, "Understanding the JOBS Act," Alternative Latin Investor, June 2012
  • Panelist, "Hedge Fund Investing for the Family Office," Personal Asset Management "Family Office" event, June 2012
  • Moderator and panelist, "Hedge Funds: Capital Introduction After Dodd-Frank," Thompson Hine Seminar New York, September 2011
  • Moderator and panelist, "Life After Dodd: Navigating Hedge Funds Through the New Regulatory Environment," Thompson Hine Seminar, New York, September 2010
  • Moderator, Activist Investor Roundtable, National Teleconference, April 2010
  • Panelist, "Financial Regulatory Reform - How Will Advisers Fare?", Thompson Hine Seminar, Columbus, Ohio, November 2009
  • Panelist, Capitol Hill Symposium on U.S. Hedge Fund Industry Regulation, Washington, D.C., October 2009
  • Moderator, "Navigating a Hedge Fund In These Volatile Times," Thompson Hine Seminar, New York, October 2009
  • Panelist, "Hedge Fund Proposed Legislation and Operations," sponsored by Opalesque and Prime Fund Solutions, New York, September 2009
  • Panelist, The Hedge Fund Association Symposium on U.S. Hedge Fund Regulation, New York, June 2009
  • Moderator, "Pursuing Distressed Investing Opportunities," Thompson Hine Teleseminar, May 2009
  • Panelist, Hedge Fund Association Symposium on U.S. Hedge Fund Regulation, Chicago, April 2009
  • Moderator, "Hedge Fund Marketing in the Internet Age," Thompson Hine Seminar, New York, October 2008
  • Guest, "Nightly Business Report," PBS, July 2008
  • Panelist, "Fund Regulation: What's So Terrible About Being Regulated After All?", HFMLive Montreal, June 2008
  • Panelist, "Hedge Fund Marketing in the Internet Age," HFA Seminar, May 2008
  • Moderator, "Navigating a Hedge Fund in these Volatile Times," Thompson Hine Seminar, New York, October 2007
  • Guest, "Hedge Fund Loss-Suits," CNBC, July 2007
  • Moderator, "Fiduciary Landmines in Organizing and Operating Hedge Funds: How to Identify and Resolve Fiduciary Issues in Structuring and Operating Hedge Funds," Thompson Hine Seminar, Chicago, May 2007
  • Participant, Hedge Fund & Private Investment Roundtable Discussion, March 2007
  • Speaker, "Hedge Fund Compliance Seminar: Implementing Effective Controls and Managing Conflicts of Interest in the Changing Regulatory Environment," Institutional Investor Events, October 2006
  • Speaker, "Fiduciary Landmines in Organizing and Operating Hedge Funds: How to Identify and Resolve Fiduciary Issues in Structuring, Soliciting and Operating Hedge Funds," Thompson Hine Seminar, New York, September 2006
Distinctions
  • AV® Preeminent Rated by Martindale-Hubbell
Professional and Civic

Professional Associations

  • Managed Funds Association
  • American Bar Association
  • National Society of Compliance Professionals

Community Activities

  • New York City Council of the Navy League of the United States, director and vice president
  • "Fleet Week" Dinner Gala Committee for the Intrepid Museum, member
  • U.S. Coast Guard Auxiliary, Flotilla 10-01 (Aviation Flotilla), member

Professional Activities

  • Hedge Fund Association, Board of Directors
  • Johns Hopkins University Physics and Astronomy Advisory Board, Member
NewsEvents