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   3Robert P. BramnikChicago(312) 499-0121rpbramnik@duanemorris.comrpbramnik@duanemorris.comDuane Morris LLPwww.duanemorris.comwww.duanemorris.comBramnikBob.jpgCommercial LitigationSecurities & Venture Finance LawSecurities Litigation
Robert P. Bramnikrpbramnik@duanemorris.com
Duane Morris LLPhttp://www.duanemorris.com
190 S LaSalle St Ste 3700
Chicago IL 60603-3433
Ph.(312) 499-0121 Fx.(312) 277-2326Leading Lawyers Magazine story about this lawyer
BramnikReprint_Bus2012.pdf
Recommended by peers in:    Extensive Experience in:
Commercial Litigation    Securities Litigation
Securities & Venture Finance Law
Advisory Board Member
County:  Cook
Litigator:  Yes

Practice Description:  
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, co-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 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 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.


Notable Cases and Results:  
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)

  • Represented a diversified financial services firm in connection with the formation and private syndication of a proprietary, industry-specific, private investment fund (2002)

  • Formation of a private equity fund management company on behalf of a diversified financial services firm and related representation in the formation and documentation attendant to a series of industry-specific private investment/trading funds for large and institutional clients (2000 - 2002)

  • Represented the sponsor of several commodity pools in the formation and offering of several pools based on a proprietary index of commodity futures (2000 - 2001)

  • Formation of a national insurance and securities brokerage firm and related acquisition of thirteen insurance and securities brokerage agencies and two related roll-up mergers (1999 - 2001)

  • Represented a diversified financial services firm in connection with the formation and private syndication of a proprietary, industry-specific, private investment fund (2002)

  • Formation of a private equity fund management company on behalf of a diversified financial services firm and related representation in the formation and documentation attendant to a series of industry-specific private investment/trading funds for large and institutional clients (2000 - 2002)

  • Represented the sponsor of several commodity pools in the formation and offering of several pools based on a proprietary index of commodity futures (2000 - 2001)

  • Formation of a national insurance and securities brokerage firm and related acquisition of thirteen insurance and securities brokerage agencies and two related roll-up mergers (1999 - 2001)

  • 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


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


Date of Birth:  1949

Law School:  Brooklyn Law School, J.D., 1973
Undergraduate School:  City College of the City University of New York, B.A., 1970

Bar/Professional Association Involvement:  
Illinois Bar Foundation
  Fellow

American Bar Association
  Committee on Regulation of Futures and Derivatives
  Co-chair, Subcommittee on Futures Commission Merchants, 1995-2000; 2001-present

Illinois State Bar Association

The Association of the Bar of the City of New York

Securities Industry Association
  Member, Legal and Compliance Division

Illinois Advisory Committee on Commodity Regulation
  Chairman, 1989-1995
  Vice chairman, 1985-1988

Arbitrator
  National Association of Securities Dealers
  National Futures Association

Frequent lecturer on financial services-related issues for the Securities Industry Association and the American Bar Association




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

1002146
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