As a Director at Oyster, Lance has designed, implemented and maintained compliance programs for SEC- and State-registered investment advisors, and has served as CCO for several of them. He has also worked in multiple engagements of varying scope with Registered Investment Advisors, broker-dealers and clearing firms, performing examinations, audits, and remediations of various aspects of their control and supervisory programs. Lance began his more than 20 years in the financial services industry at NationsBanc Capital Markets (now Banc of America Securities) in municipal fixed-income trading and underwriting. His extensive experience also includes bond sales for Bank of America, retail investor financial consultant for UBS, and just prior to joining Oyster, Lance was in fixed income trading at Wachovia Securities (now Wells Fargo Advisors) where he traded high yield corporate, emerging market, international, and non-dollar credit securities.

Expertise

  • Chief Compliance Officer, Insurance-Linked Securities Private Fund manager
  • Chief Compliance Officer, institutional and retail SEC-Registered Investment Advisors
  • Compliance program, calendar, manual, and control development for Registered Investment Advisors of various sizes with focus on their regulatory compliance program, including program audit, review, design and implementation and firm registration
  • Securities and Exchange Commission Independent Consultant to firms in relation to the SEC Municipal Continuing Disclosure Cooperation Initiative
  • Performed a wide range of broker-dealer regulatory compliance testing and evaluation functions concerning FINRA Rule 3012/3120 controls testing, AML program testing and remediation, fixed income compliance review, and SEC Rule 15c(3)-5 Direct Market Access controls review for firms ranging from regional to national in size
  • Taxable fixed income trading and sales in retail, middle-market, and institutional environments
  • Retail investor financial advisor of an international financial services firm
  • Maintained and marketed proprietary inventory of high yield fixed-income securities for an audience of 15,000 retail financial advisors and correspondent firms, managing trading risk, formulating highly successful buy and sell strategies and negotiating profitable transactions for a national broker-dealer
  • Managed remediation of regulatory records for a large clearing firm
  • Municipal bond trader and underwriter for a national bank and securities firm; supported all front and middle-office aspects of municipal trading, underwriting, regulatory compliance, and risk management; in addition, executed and supervised underwriting of syndicate management, record keeping, trade control, accounting, and settlement

Career Highlights

  • Associate Vice President, Taxable Fixed Income Trader, Wachovia Securities
  • Financial Advisor, UBS Financial Services
  • Associate Vice President, Municipal Trader, Bank of America Securities, Inc.

Education, Accolades and Affiliations

  • B.S.,  Education, University of Vermont
  • FINRA Series 7 and 63 registrations (Registrations are typically inactive, but may be used when appropriate to perform interim functions for our clients)
  • Virginia Life, Health, and Annuity license

 Publications and Presentations