Patrick M. Dennis has been involved in the securities industry for over 30 years, most recently as one of the Founding Principals of Oyster Consulting, LLC, a compliance, regulatory, operations, clearing advisory, software and technology consulting firm for broker-dealers, investment advisers, mutual funds and hedge funds.
Previously, Patrick was a Senior Vice President and Assistant General Counsel to Wachovia Securities, LLC (now Wells Fargo Advisors), or its predecessors. Patrick moved to Wells Fargo in 1998, where he was in charge of all litigation and regulatory matters affecting the retail brokerage firm. He managed securities litigation and arbitration matters until 2003 when he moved into a Senior Regulatory Counsel position. In that capacity, he handled a number of high-profile regulatory matters for the firm including, mutual fund breakpoints, mutual fund market timing, inactive fee-based accounts and closed end funds. Patrick also served as Senior Regulatory Counsel to Wachovia’s Investment Advisory line of business.
Patrick began his legal career in 1986 as a Staff Attorney at the U.S. Securities and Exchange Commission in the Division of Corporation Finance in Washington, D.C. He then became a Corporate and Securities Associate at the D.C. office of Cadwalader, Wickersham and Taft where he was involved in mortgage backed securities and commodity-based hedge funds and corporate governance issues. He returned to the SEC in the Division of Enforcement from 1991 through 1996 where he worked on a variety of cases including complex financial fraud, insider trading, broker-dealer issues and revenue recognition. From 1996 to 1998, he served as General Counsel and Corporate Secretary and a member of the senior management team of Banc One Securities Corporation, Bank One Corporation’s bank brokerage firm.
Education, Accolades and Affiliations
- B.S., Rochester Institute of Technology
- D., University of Wisconsin Law School
- Member of the Bar: District of Columbia, North Carolina, Virginia (Corporate Counsel) and Wisconsin (inactive)
- FINRA Industry Arbitrator
- FINRA Series 7, Series 24 and Series 66 exams (expired in 2015)
- Member, Securities Industry and Financial Markets Association (SIFMA) Compliance & Legal Division
- Member, Association of Securities and Exchange Commission Alumni
- Patrick is a frequent speaker at industry conferences and on Oyster Stew, Oyster Consulting’s weekly podcast
Publications and Presentations
Effective Expert Witnesses – Oyster Stew Podcast, December 4, 2019
Reg BI – The Compliance Obligation – Oyster Stew Podcast, November 6, 2019
Reg BI – The Care Obligation – Oyster Stew Podcast, October 23, 2019
Reg BI – It’s a Bigger Deal Than You Might Think – Oyster Stew, October 9, 2019