The 20 Rising Stars of Compliance 2007 - (Page 23) 15 KIRK D. RULE 1 2 Chief Compliance Officer Ospraie Management, New York Age: 38 Education: Johns Hopkins University (B.A.); American University (J.D.) Mentor: George Mazin, partner, Dechert Rule established and monitors the compliance program and is responsible for legal and regulatory matters associated with an approximately $6 billion alternative investment fund complex, which includes onshore and offshore master/feeder trading funds, long-only commodity funds and private equity/special opportunities vehicles. Rule oversees all aspects of new fund formation and Ospraie’s “Wingspan” seeding platform, which provides independent investment managers with seed capital. He joined in 2005. Previously, Rule was associate general counsel at U.S. hedge fund Caxton Associates from 2002-2005. He began his legal and compliance career overseeing trading floors of Lehman Brothers in equities and capital markets from 1996-99 and Donaldson, Lufkin & Jenrette from 1999 to 2000 overseeing listed stocks. Rule was a counsel at Lowenstein Sandler from 2000-2002. He serves as a co-chair of the Managed Funds Association’s quarterly Chief Compliance Officer Forum and is a frequent speaker at industry events. “We are moving from a fixed regulatory environment to one where the financial products, especially derivatives, are outpacing pre-defined rules. The key is exercising one’s judgment in a manner which tolerates and fosters business innovation while making certain such innovation does not lead to regulatory jeopardy, even when the regulatory landscape often is quite uncertain.” 16 MARK D. SCHEIN 1 Chief Compliance Officer and Senior Vice President York Capital Management, New York Age: 40 Education: Williams College (B.A. in economics and American studies); Vanderbilt University Law School (J.D.) Mentors: Thomas Leahy, bureau chief, Rackets Bureau, Bronx District Attorney’s Office; Robert Marchman, executive vice president, Enforcement, New York Stock Exchange; Selwyn Notelovitz, chief compliance officer, Wellington Management. Schein set up and runs the compliance program for the $12 billion hedge fund, which also has offices in London and Singapore. Prior to joining York in 2005, he spent three years at U.S. Trust Co. and Schwab Capital Markets as director of broker-dealer compliance and director of anti-money laundering, respectively. At U.S. Trust Schein established a broker-dealer compliance department, and at Schwab, he built an AML program for the firm’s capital markets unit. Schein was a trial counsel in the New York Stock Exchange’s enforcement division from 1997 to 2001. He was also an assistant district attorney in Bronx County from 1991-97, prosecuting organized crime and police corruption. Schein speaks at conferences on hedge fund compliance and anti-money laundering compliance, including events held by the American Law Institute-American Bar Association and by the SIFMA. “I have found that the compliance department has to be accessible and approachable in order to succeed. We have to be viewed as an asset to the business. Otherwise, we will not be included in the important conversations on how the business will operate.” SEPTEMBER 2007 0 92 0 92 COMPLIANCE RISING STARS 23
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