Former SEC Lawyer Sanchez Launches Muni Practice

WASHINGTON - Dave Sanchez, a lawyer who previously worked in the Securities and Exchange Commission's Office of Municipal Securities, has launched a new practice that will focus on securities law compliance for issuers and municipal advisors.

The Law Offices of Dave A. Sanchez are headquartered in San Francisco, but could eventually operate in Los Angeles as well, Sanchez told The Bond Buyer.

He said he will initially be working with non-dealer municipal advisors adjusting to a brand new regulatory framework under construction by the Municipal Securities Rulemaking Board, and will also work with issuer clients on developing compliance policies and procedures. Additionally, Sanchez will serve as bond and disclosure counsel on various types of transactions.

"Municipal advisors are crucial to the functioning of a fair and efficient municipal securities market," said Sanchez. "They serve as key financial and market watchdogs on behalf of issuers and taxpayers and this platform allows me to best serve this group of professionals."

Sanchez, who worked on the SEC's MA registration rule during his 2010-2013 tenure at the commission, has been outspoken on the evolving MA regime and said he will continue to submit comment letters to regulators on his own behalf.

"Due to their inherent fiduciary duty to their clients, and no historic confusion about their role, an appropriate regulatory framework for municipal advisors is essential to the market," Sanchez said. "These professionals should not be hindered by excessive rules that could deter them from their work and that do not advance the issuer protection mandate."

Sanchez will also serve as senior counsel to Saber Partners LLC where he will assist in Saber's independent dispute resolution and expert witness practice involving complex securities litigation.

"Saber Partners has been at the forefront of identifying areas in the municipal market where issuers are being shortchanged," said Sanchez. "I look forward to working with Saber to continue to address deficiencies in the market to provide important relief for municipal issuers."

After leaving the SEC, Sanchez served as general counsel at De La Rosa & Co. in California before that firm was purchased by Stifel Nicolaus & Co. He taught a public finance course at the Georgetown Law Center in Washington, D.C. while at the SEC and previously worked at the law firms of Orrick, Herrington & Sutcliffe and Sidley Austin, as well as for the City of San Francisco and Financial Security Assurance. Sanchez holds an undergraduate degree from the University of New Mexico and a law degree from Harvard Law School.

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Law and regulation
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