Patrick serves as Leader of the firm’s Investment Management practice and represents and supports advisers in the development and administration of their compliance programs, including the creation and implementation of written policies and procedures governing all activities of the adviser and any associated funds. His clients include wealth management firms, private funds, family offices, ERISA investment fiduciaries, mutual fund trusts, and institutional equity and fixed income asset managers.
As a member of the Corporate and Finance group, Patrick also serves as outside general counsel to draft, coordinate and review all legal documents of the adviser, including contracts, fund formation documents, adviser and fund regulatory filings and other related materials.
Patrick conducts due diligence and monitors activities of sub-advisers, third-party managers and relevant service providers, and will assist with matters before the Securities and Exchange Commission, Commodity Futures Trading Commission, Department of Justice, Financial Industry Regulatory Authority, North American Securities Administrators Association, as well as before state securities commissions, attorneys general and local authorities.
Patrick serves on the board of directors for the National Society of Compliance Professionals and co-chairs the NSCP Publications Committee. He carries both Series 7 and Series 24 securities licenses, and is licensed to practice law in the state of Ohio and the Commonwealth of Kentucky.
Prior to joining Calfee, Patrick served as Investment Management Counsel and Chief Compliance Officer at Graydon Compliance Solutions, LLC and Private Funds and Regulatory Compliance Officer at Fort Washington Investment Advisors, Inc.
Patrick earned his J.D. from the University of Cincinnati College of Law, where he was inducted into the Order of the Barristers for outstanding ability in appellate advocacy. He is also a recent recipient of the Cincinnati Business Courier's Forty Under 40 Award recognizing young professionals in Greater Cincinnati who are crafting successful careers while also giving back to their community.
He joined Calfee in 2019.
Honors & Recognitions
- Cincy Magazine, "Cincy Leading Lawyers," Corporate and Securities Law (2020-2021)
- Forty Under 40 Honoree, Cincinnati Business Courier (2019)
J.D., University of Cincinnati College of Law, 2008
B.A., magna cum laude, University of Notre Dame, 2005
Professional & Community
Professional & Community
- National Society of Compliance Professionals, Board of Directors, Co-chair of Publications Committee
- Cincinnati Bar Association, Treasurer, Finance and Administration Chair
- University of Cincinnati Law Alumni Association, Immediate Past President
On October 19, 2020, Patrick launched The Securities Compliance Podcast: Compliance in Context™, co-sponsored by Calfee and the National Society of Compliance Professionals, a nonprofit, membership organization dedicated to serving and supporting compliance professionals in the financial services industry. Patrick designed the podcast as a personal master class for the securities industry’s legal and compliance professionals.
The goal of the podcast series is to put Compliance In Context by combining the technical expertise of industry thought leaders and innovators with the practical experience of doers and key decision makers.
The first segment of each episode covers the provocative and trending compliance topics of the day, and the second segment features an expert guest participating in a deep-dive discussion of a significant topic affecting the industry. The final segment of each episode will feature one of four unique recurring series, including comical stories in the investment management industry and new regulatory guidance on controversial issues.
Episode 12, "Lessons From The Front Lines - Examinations and Enforcement," featuring Ed Wegener, the former Senior VP and Midwest Regional Director of FINRA to discuss some real lessons learned on the front lines of the investigation and enforcement process.
Episode 11, "Lessons From The Front Lines - SEC Enforcement and the Impact on the Industry," featuring Rob Kaplan and Bruce Karpati. In sharing their experiences as former Co-Chiefs of the Asset Management Unit, Bruce and Rob discuss the role of SEC Enforcement and its impact on the industry.
Episode 10, "Thoughts on CCO Liability from Commissioner Peirce," featuring SEC Commissioner Hester M. Peirce for an in-depth conversation focusing on the controversial topic of Chief Compliance Officer (CCO) liability. In addition, we discuss the role of outsourced CCOs, the new Marketing Rule, and broker-dealer custody of digital asset securities and cryptocurrencies. She also spoke about the new presidential administration, which will bring in a new SEC Chair and Head of Enforcement, and whether she anticipates a slowdown in dialogue that’s taken place between the regulators and the industry.
Episode 9, "Cybersecurity and Teleworking," featuring former NSCP Chair and teleworking compliance expert Craig Watanabe to do a deep dive on how firms can best prepare their compliance programs for the increase in teleworking and the types of supervision, cybersecurity, and data privacy issues that are involved there.
Episode 8, "Diversity, Equity & Inclusion in Your Compliance Program," featuring Michelle Canela and Hope Brown. They dive into diversity, equity, and inclusion in the financial services industry and also discuss the importance of mentors and mentorship.
Episode 7, "What's Up with Regulation Best Interest and How the Best Firms are Addressing the New Rule," featuring former NSCP Chair and industry stalwart Miriam Lefkowitz to do a deep dive on how firms can best prepare for the practical application of Regulation Best Interest into their compliance programs.
Episode 6, "Recent Trends in SEC and FINRA Enforcement," featuring SEC and FINRA enforcement guru Brian Rubin for a deep dive into recent trends from the regulators and what to look out for in the future.
Episode 5, "Origins of the SEC's Asset Management Unit," featuring Rob Kaplan and Bruce Karpati discussing the origin story of SEC’s Asset Management Unit.
Episode 4, “How FinTech and RegTech Impact Compliance,” featuring Chuck Senatore on the importance of FinTech and RegTech in the financial services industry and compliance programs. Senatore is the founder of the Boston RegTech Meetup and adviser to numerous FinTech, RegTech and cryptocurrency companies.
Episode 3, “The New DOL Fiduciary Rule,” featuring ERISA expert, David Kaleda, Principal at Groom Law Group, to discuss the latest developments with the new DOL Fiduciary Rule and its impact on the investment management industry.
Episode 2, “What’s New at OCIE?” featuring Natasha Greiner, the Associate Director of the IA/IC Examination Program, SEC Office of Compliance Inspections and Examinations.
Episode 1, “Introducing Your Personal Master Class,” provides an introduction and origin story to the podcast.
Additional information and episodes are available at ComplianceInContextPodcast.com.
- “Investment Adviser/Investment Company – Regulatory Review,” Speaker, National Society of Compliance Professionals National Conference, Cornwall Bridge, CT (October 19, 2020)
- “Broker Dealer/Investment Adviser – Conflicts of Interest,” Speaker, National Society of Compliance Professionals Virtual Spring Conference, Cornwall Bridge, CT (April 21, 2020)
- “Regulation Best Interest - SEC Innovation or Zombie DOL Fiduciary Rule?” Speaker, National Society of Compliance Professionals, National Conference, Baltimore, MD (October 21, 2019)
- “Hot Topics in Compliance,” Speaker, National Society of Compliance Professionals Spring Conference, Chicago, IL (April 30, 2019)
News & Events
- Securities Compliance Podcast: Compliance in Context, 03.02.2021
- Cincy Magazine, 03.01.2021
- Compliance Week, 02.18.2021
- The Securities Compliance Podcast Episode 12 - Examinations and Enforcement (Lessons From The Front Lines)Securities Compliance Podcast: Compliance in Context, 02.16.2021
- The Securities Compliance Podcast Episode 11 - SEC Enforcement and the Impact on the Industry (Lessons From The Front Lines)Securities Compliance Podcast: Compliance in Context, 02.02.2021
- SEC Commissioner Hester M. Peirce Provides Insights as Guest Speaker on The Securities Compliance Podcast: Compliance in Context01.19.2021
- Securities Compliance Podcast: Compliance in Context, 01.06.2021
- The Securities Compliance Podcast Episode 8 - Diversity, Equity & Inclusion in Your Compliance ProgramSecurities Compliance Podcast: Compliance in Context, 12.23.2020
- The Securities Compliance Podcast Episode 7 - What's Up with Regulation Best Interest and How the Best Firms are Addressing the New RuleSecurities Compliance Podcast: Compliance in Context, 12.09.2020
- Securities Compliance Podcast: Compliance in Context, 11.24.2020
- Securities Compliance Podcast: Compliance in Context, 11.10.2020
- Securities Compliance Podcast: Compliance in Context, 10.19.2020
- The Securities Compliance Podcast Episode 2: "What's New at OCIE?" With Guest, Natasha Greiner, Associate Director of the SEC's IA/IC Examination OfficeSecurities Compliance Podcast: Compliance in Context, 10.19.2020
- The Securities Compliance Podcast Episode 3: "The New DOL Fiduciary Rule" With ERISA Expert David Kaleda, Principal at Groom Law GroupSecurities Compliance Podcast: Compliance in Context, 10.19.2020
- The Securities Compliance Podcast Episode 4: "How FinTech and RegTech Impact Compliance" With Guest, Chuck Senatore, Founder of the Boston RegTech Meetup and Board Member and Adviser to FinTech, RegTech and Cryptocurrency CompaniesSecurities Compliance Podcast: Compliance in Context, 10.19.2020
- Patrick Hayes Co-authors "The Revenant of Fair Value Cometh for Fixed Income Markets" Article for NSCP CurrentsNational Society of Compliance Professionals Currents, 10.12.2020
- "Navigating the Impact of COVID-19 for Registered Investment Advisers and Broker-Dealers," an Article Published in the NSCP Newsletter, CurrentsCurrents, the National Society of Compliance Professionals Newsletter, 04.13.2020
- Cincy Magazine, 01.30.2020
- U.S. District Court for the Southern District of Ohio