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Robert P. Bramnik
Partner
Duane Morris LLP
Suite 3700
190 South LaSalle Street
Chicago, IL 60603-3433
USA

Phone: +1 312 499 0121
Fax: +1 312 277 2326
Email: RPBramnik@duanemorris.com

New York Address
Duane Morris LLP
1540 Broadway
New York, NY 10036-4086
Phone: 212.692.1044
Fax: 212.277.2326

Robert P. Bramnik represents clients in a broad range of financial services areas in the securities, futures and derivatives markets, including strategic business planning, participation in new markets, design and implementation of trading and investment products and strategies, and in related litigation. He also represents professionals in the securities and futures industries in connection with a variety of regulatory and compliance matters.

Mr. Bramnik is a member of the American and Illinois State bar associations and The Association of the Bar of the City of New York. He is a fellow of the Illinois Bar Foundation and chairman of the Subcommittee on Futures Commission Merchants of the ABA's Committee on Regulation of Futures and Derivatives. In addition, he is a member of the Legal and Compliance Division of the Securities Industry and Financial Markets Association and has served as an arbitrator for the National Association of Securities Dealers, Inc. and for the National Futures Association. He is a member of the Probable Cause and Business Conduct Committees of the Chicago Board of Trade and the Chicago Mercantile Exchange, a member of the Hearing Board of the National Futures Association and a member of the Advisory Board of the Journal of Investment Compliance.

Mr. Bramnik has spoken on financial services-related issues for the Securities Industry Association and the American Bar Association. During 2008, he spoke on the topic of new regulatory developments in the private funds area at the Winter Meeting of the American Bar Association's Committee on the Regulation of Futures and Derivatives Instruments. He also chaired and spoke on best practices for hedge funds and their sponsors at a number of conferences for the managed funds industry. He presented an article at the Winter Meeting of the American Bar Association (2003) on the issue of Clearing Firm Liability and at the Legal & Compliance Seminar of the Securities Industry Association regarding Continuing Education in the Securities Industry. He served as chairman of the Illinois Advisory Committee on Commodity Regulation throughout most of its tenure and was the author of related amendments to the Illinois Securities Law.

In addition, Mr. Bramnik has authored numerous articles, including "SEC Regulation D: Proposed New Exemption" (American Bar Association, 2008); "Hedge Fund Best Compliance Practices" (American Conference Institute, 2006); "Hedging For Hedge Funds," Counsel to Counsel (January 2004); "Clearing Firm Liability," (American Bar Association, 2003); "Financial Services Industry Use of Electronic Media: Current Regulatory and Legal Landscape," Journal of Investment Compliance (Spring 2001); "The History of Discount Brokers," SIA (1997); "Surf's Up," Futures & Derivatives Law Report (1997); "Update on Litigation and Enforcement Reforms in Light of the Futures Trading Practices Act," Futures International Law Letter (1994).

Admitted to practice in Illinois and New York, Mr. Bramnik is a 1973 graduate of Brooklyn Law School and a graduate of the City College of New York.

Areas of Practice

• Financial Markets Litigation and Enforcement
• Strategic Business Planning
• Securities and Futures Regulatory and Compliance Matters
• Financial Services Law
  - Securities
  - Futures
  - Derivatives

Representative Matters

Litigation

• Represented a multifaceted broker-dealer in an investigation by the Financial Markets Regulatory Authority and negotiated a resolution of that investigation (2007-2008)
• Represented the investment management arm of a sovereign government in connection with a multi-faceted investigation by United States regulators of its trading practices and a resulting negotiated resolution of that investigation (2007)
• Domestic Securities, Inc. v. Securities and Exchange Commission, Court of Appeals, DC Circuit (No. 02-1308), 2003. Represent amici (operators and sponsors of competing Electronic Communications networks) in a regulatory challenge to Securities and Exchange Commission approval of NASD's SuperMontage electronic market system
• Lawrence W. Olson v. Wexford Clearing Services Corporation, Court of Appeals, Seventh Circuit (No. 03-1223), 2003. Represent clearing broker in defending a challenge to US District Court Confirmation of Pre Hearing Summary Judgment granted in favor of Wexford, in claims asserted by a customer of former introducing broker. Obtained pre-hearing Summary Dismissal on behalf of the clearing broker and confirmation of that Award in US District Court
• Jo Minor v. Prudential Securities, Inc. and Patrice Mackie, United States Supreme Court (No. 96-914), 1996. Successfully represented broker dealer and registered representative in confirming favorable arbitration award and challenge to jurisdiction of the reviewing courts
• Andrew S. Grumhaus and Leslie Grumhaus Davidson v. Comerica Securities, Inc., F. 3d (2002) represented so called forced customers whose securities were liquidated without their approval in seeking to enforce broker's arbitration agreement which was forged as to the customers' signatures
• Olde Discount Corporation v. Richard W. Hubbard, Securities Commissioner of the State of Delaware, et al., 401 F. 3d 202 (3rd. Cir, 1993), successfully enjoined portions of the Delaware Securities Law which permitted the Securities Commissioner to moot a broker dealer's arbitration agreement with former customers by virtue of state-sponsored administrative proceedings; successfully asserted Federal Civil Rights Act claims and RICO violations in a civil action against the Deputy Attorney General in related proceedings
• Pacific Brokerage Services, Inc. v. National Financial Services Corp., 864 F. Supp 61 (N.D. Ill 1994). Asserted claims in arbitration on behalf of broker-dealer against broker who failed to pay over dividend attaching to stock which was transferred years earlier. Successfully argued that, for purposes of six year eligibility provision of arbitration forum, the cause of action accrued not at the time of the original underlying transaction but rather when the violation of industry custom and practice occurred in the transfer of the securities position

Transactional

• Represented the principals of a major proprietary trading organization in a corporate reorganization and restructuring, including the formation and regulatory qualifications of a series of domestic and non-U.S. trading firms (2007-2008)
• Represented a syndicator of real estate funds in the offering of a fund manager for accredited investors (2008)
• Assisted in the formation and regulatory qualification of a new investment manager and related broker-dealer and in the formation of a related "Fund of Funds" Hedge Fund (2007)
• Represented the sponsor and advisor of an existing hedge fund in a reorganization (2007)
• Represented an investment advisory firm and its principals in the formation and regulatory qualification of an investment banking affiliate (2006)
• Represented the sponsor of an Electronic Communications Market (or "ECN") in initiating an electronic securities market in a unique derivatives product (2006)
• Represented a financial services management firm and related broker dealer in establishing a series of domestic and off-shore hedge and trading funds (2005)

Professional Activities

• Illinois Bar Foundation
  - Fellow
• American Bar Association
  - Committee on Regulation of Futures and Derivatives
  -- Chair, Subcommittee on Futures Commission Merchants, 1995-2000; 2001-2007
  - Committee on Federal Regulation of Securities
  -- Subcommittee on Market Regulation (Drafting Committee Chair and Member)
• The Association of the Bar of the City of New York
• Chicago Board of Trade
• Chicago Mercantile Exchange, 2008-present
  - Business Conduct Committee
  - Probable Cause Committee
• Securities Industry and Financial Markets Association
  - Member, Legal and Compliance Division
• Illinois Advisory Committee on Commodity Regulation
  - Chairman, 1989-1995
  - Vice Chairman, 1985-1988
• Frequent lecturer on financial services-related issues for the Securities Industry Association and the American Bar Association
• Arbitrator
  - Financial Industry Regulatory Authority
  - National Futures Association

Admissions

• Illinois
• New York
• Supreme Court of the United States
• United States Courts of Appeals for the Second, Third and Seventh Circuits
• United States Court of Federal Claims
• United States District Courts for the Southern and Eastern Districts of New York
• United States District Courts for the Northern and Central Districts of Illinois

Education

• Brooklyn Law School, J.D., 1973

Experience

• Duane Morris LLP
  - Partner, 2003-present
• Wildman, Harrold, Allen & Dixon, Chicago, Illinois
  - Partner, 1997-2003
• Altheimer & Gray, Chicago, Illinois
  - Partner, 1987-1996
• Arvey Hodes Costello & Burman, Chicago, Illinois
  - Partner, 1979-1986
• National Securities Clearing Corp., New York, New York
  - Associate General Counsel/ Director of Legal and Regulatory Departments, 1977-1979
• E.F. Hutton & Company, Inc., New York, New York
  - Assistant General Counsel, 1975-1977
• New York Stock Exchange, Inc., New York, New York
  - Senior Trial Counsel, 1973-1975

Board Memberships

• National Futures Association
  - Member, Hearing Board
• Journal of Investment Compliance
  - Member, Editorial Advisory Board

Honors and Awards

• Named to "Leading Lawyers" list for Illinois, a statewide list of attorneys recommended by their peers, 2005, 2006, 2007, 2008
• Named an Illinois Super Lawyer, 2005, 2006, 2007, 2008
• Listed in Super Lawyers Corporate Counsel Edition, 2010
• Listed in Marquis Who's Who in America, 1995-2008
• Who's Who In The World, 2007-8

Selected Publications

• "SEC Regulation D: Proposed New Exemption," American Bar Association, 2008
• "Hedge Fund Best Compliance Practices," American Conference Institute, 2006
• "Hedging the Hedge Funds," Counsel to Counsel, January 2004
• Co-author, "Untoward Employee Whistleblower Claims Under Sarbanes-Oxley," Journal of Investment Compliance, Fall 2003
• "Clearing Firm Liability - Everything Old Is New Again," published by the American Bar Association, February 2003
• "Financial Services Industry Use of Electronic Media: Current Regulatory and Legal Landscape," Journal of Investment Compliance, Spring 2001
• "The History of Discount Brokers," Securities Industry Association (SIA), 1997
• "Surf's Up," Futures & Derivatives Law Report, 1997
• "Update on Litigation and Enforcement Reforms in Light of the Futures Trading Practices Act," Futures International Law Letter, 1994

Selected Speaking Engagements

• "New Developments in Enforcement," American Bar Association Committee on the Regulation of Futures and Derivatives Instruments, San Juan, Puerto Rico, January 28-31, 2009
• "Designing The Compliance Function at a Hedge Fund," American Conference Institute, 2005.
• Chair, "Operational Considerations when Designing a Compliance Program for your Hedge Fund," Best Practices for Hedge Funds Conference, June 2005.
• Chair and Presenter, Panel Discussion, "Recent Developments in Civil Liability within the Futures and Derivatives Industries," Winter Meeting of the American Bar Association's Committee on Regulation of Futures and Derivatives, Key West, Florida, February 2003
• Moderator, "Cost Effective Strategies for Meeting Your Compliance Obligations," American Conference Institute - Best Practices for Hedge Funds, New York City, February 1, 2006