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Schneiderman's securities division has new leader

By Jessica M. Karmasek | Mar 21, 2011


ALBANY, N.Y. (Legal Newsline) - New York Attorney General Eric Schneiderman has appointed Marc B. Minor to serve as chief of the attorney general's Investor Protection Bureau.

Schneiderman made the announcement on Thursday. In his role, Minor, who previously worked in the bureau, will be charged with enforcing New York State securities law.

"Our office has a strong tradition of taking tough, innovative and fair action to protect the investing public. Marc will be a leader in my administration as we continue this important work," Schneiderman said in a statement.

"With his widespread experience enforcing state, federal and self-regulatory organizations' securities law, as well as his time as an assistant attorney general, Marc will bring the talent and skill we need to protect New York's working families."

Minor said he is honored to join Schneiderman in his work "to restore New Yorkers' confidence in their financial institutions by ensuring that they operate to the letter of the law."

"Having served not only as a regulator across the country, but also in the New York Attorney General's Investor Protection Bureau, I know the office's full power and how it can be used to hold bad actors accountable and keep investors safe. This is the tradition of the office I am proud to continue as Bureau chief and I look forward to the work ahead," he said in a statement.

Since 2009, Minor has served as the Bureau of Securities Chief in the New Jersey Attorney General's Office. While there, he managed the administration and enforcement of New Jersey securities law and brought innovative changes to its regulatory programs.

He directed many industry investigations, including securing billions in auction rate securities repurchases for investors, sanctioning firms for employing unregistered brokers, and charging fraudulent investment firms in multi-state Ponzi schemes.

Anne Milgram, former New Jersey Attorney General, said in a statement of Minor, "Marc is a distinguished legal mind who will be a great public servant for the people of New York. His knowledge of securities law and commitment to justice will serve Attorney General Schneiderman's team well in their work to root out fraud and abuse in the financial services sector."

Prior to his work for the New Jersey Attorney General's Office, Minor worked for the Financial Industry Regulatory Authority, the largest independent securities regulator in the country, from 2005 to 2009.

As senior counsel, he managed investigations and litigated securities violations occurring throughout the United States, and took a lead role in a task force investigating subprime lending and mortgage-backed securities abuses.

From 2002 to 2004, Minor worked for the New York Attorney General's Office as an assistant attorney general in the Investor Protection Bureau. While there, Minor prosecuted civil and criminal violations involving brokerage firm research analyst conflicts, mutual fund market timing and various other investigations into hedge funds, investment banks and corporate governance issues.

Minor's other positions include serving as the director and enforcement counsel of the Philadelphia Stock Exchange from 2004 to 2005; Assistant State Public Defender in Ohio from 1996 to 1999; and as an assistant attorney general in the Ohio Attorney General's Office from 1994 to 1996.

Minor also is an active leader in the North American Securities Administrators Association, serving this year as chair of its Annual Policy Conference in Washington, D.C.

Minor received an undergraduate degree from the University of Maryland, College Park, and his law degree from Howard University School of Law.

From Legal Newsline: Reach Jessica Karmasek by e-mail at

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