James G. Lundy represents clients in financial regulatory investigations, financial services compliance and governance, white collar criminal investigations, and complex business litigation.
With 12 years of senior Securities and Exchange Commission (SEC) experience and more than two years of in-house experience at a futures and securities brokerage firm, Jim has developed an in-depth working knowledge of the various regulatory bodies with enforcement oversight of the securities and futures industries.
During his time with the SEC’s Chicago Regional Office, from 2002 to 2014, Jim worked at supervisory levels in both the Enforcement Division and the Office of Compliance Inspections and Examinations (OCIE). After nine successful years with the Enforcement Division, Jim spent his final three years with the SEC as a Senior Regulatory Counsel in OCIE and assisted with operating the SEC’s broker-dealer examination program for the SEC’s Midwest Region.
Most recently, Jim was an Associate General Counsel at a futures and securities brokerage firm affiliated with a European-based global bank, where he handled representations before the SEC, Commodities Futures Trading Commission (CFTC), FINRA, Chicago Mercantile Exchange (CME), National Futures Association (NFA) and Chicago Board Options Exchange (CBOE) in matters involving complex futures, derivatives and securities trading and transactions.
From 2004 to 2014, Jim taught Securities Regulation at Loyola University.
- First-chaired the administrative hearing of In the Matter of Theodore Urban, a four-week trial with over 20 witnesses stemming from his work as a Branch Chief managing the SEC’s investigation into Ferris, Baker Watts, Inc. and the IPOF Fund. This complex, parallel investigation resulted in eight SEC actions (seven settled) and three criminal convictions. Jim then acted as the lead attorney for the cross appeals to the Commission from the Urban trial. The Urban case remains the first and only time that the SEC filed and litigated failure to supervise charges against the general counsel of a financial services firm.
- Started his Senior Trial Counsel tenure by filing the SEC’s Market Abuse Specialty Unit’s first case, which involved an options insider trading scheme against several foreign defendants, including a senior research analyst from Banco Santander. The Enforcement Director highlighted this case in testimony before the Senate Judiciary Committee.
- Concluded his tenure with the SEC’s Enforcement Division by obtaining judgments in a $100 million securities fraud case in which the main defendant was sentenced to 25 years in prison in the parallel criminal case.
- Handled every type of case investigated and pursued by the SEC Enforcement Division as a Branch Chief and Senior/Staff Attorney, including several investigations into accounting and financial statement misstatements at public companies and the involvement of their audit firms.
- Assisted with operating the Midwest Region’s Broker-Dealer Examination Program for OCIE, as a Senior Regulatory Counsel. In this role, he helped oversee approximately forty staff and the examination program for the largest number of broker-dealers of any SEC regional office. Jim also served as the primary Chicago Regional Office liaison to FINRA and other regulators.
- Played a lead role for SEC Enforcement and OCIE in their coordinated efforts with the CFTC and FBI for their investigations into the failures of MF Global and Peregrine Financial Group.
- Successful representations as an Associate General Counsel of a futures and securities financial services firm included: CFTC Enforcement investigations, SEC Enforcement investigations and OCIE examinations, FINRA investigations and examinations, CBOE investigations, an NFA arbitration, and a successful argument before a CME Business Conduct Committee.
- Represented his firm on Futures Industry Association (FIA) subcommittees responsible for analyzing the CFTC’s proposed rule Regulation Automated Trading (Reg AT), including submitting a memorandum to FIA on the distinguishable SEC, FINRA and Department of Justice practices regarding obtaining algorithmic trading “source code.”
- Worked in the CME Eurodollar options and futures trading pits and the trading floor of the Chicago Board of Trade before starting his J.D./M.B.A. program.
Jim earned several awards during his time with the SEC, including:
The FBI's "Exceptional Service in the Public Interest" award
The SEC's "Shannon D. Ayers Examination Award of Excellence
The SEC's "Chairman's Award for Excellence"
Several SEC Director's Awards
Several SEC Special Act Awards
- DePaul University, J.D.
- DePaul University, M.B.A.
- University of Illinois at Urbana-Champaign, B.A.