Bruce A. MacKenzie

Partner

Minneapolis

P: (612) 340-5678

F: (952) 516-5646

Bruce A. MacKenzie is a member of the firm’s financial markets practice group and is Chair of the Broker-Dealer/Investment Adviser practice group and co-Chair of the Financial Services Regulatory group. Bruce has extensive experience in regulatory and compliance issues affecting financial institutions, the securities industry, and the financial markets.

Prior to joining Dorsey & Whitney, he was Vice President and General Counsel of the Davidson Companies, an integrated financial services company providing trust, investment advice, and brokerage services.

Representative Transactions

Advice to broker-dealers and investment advisers on the creation of compliance programs and codes of ethics
Representation of broker-dealers in adversarial and investigative proceedings before federal, state, and self-regulatory securities authorities
Counsel to investment adviser / family office organizations
Acquisition of a preferred equity interest in an investment adviser by a financial holding company
Advice to bank holding companies on acquisition of regional broker-dealers and regulatory compliance issues relating to acquired bank-affiliated broker-dealers
Advice regarding the formation, organization, registration and exchange membership applications of new broker-dealers
Advice on regulatory issues relating to clearing operations of regional brokerage firms and their correspondents
Formation of holding company for the acquisition of state chartered trust company and regional brokerage firm
Counsel to financial institutions on U.S. privacy and data protection issues, including developing customer notices, privacy policies and protection measures

Presentations

"Managing Legal Issues for Small and Regional Firms," Securities and Financial Markets Compliance and Legal Annual Seminar (SIFMA) March 20, 2012
"Compliance Programs Rules and Strategies for Managing Investment Adviser Annual Reviews," Investment Advisers Association Regional Seminar, July 20, 2011
"Too Small to Save: Impact of Dodd Frank reform Act on Regional Investment Banking Firms," University of Minnesota Law School Public Seminar, November 14, 2010
"Dodd Frank Reform School," Panelist Corporate Counsel Symposium, November 11, 2010
"Planning for the Future of an Advisory Services Business: A Value Adding Exercise," Fidelity Management Group, October 6, 2010
"Dodd Frank Wall Street Reform Act," Panelist Presentation on Investment Services Regulatory Reforms Dorsey & Whitney Client Seminar, August 12, 2010
"Insider Trading Law: The Basics for Debt Securities," Continuing Education Firm Element Training for Broker Dealer Industry, December 11, 2008
“Blue Sky and NSMIA: What We All Still Need to Worry About,” Dorsey U presentation, Minneapolis, Minnesota, May 17, 2007
“Regulation R: New and Improved Bank Pushout Rules,” Fourth Annual Banking Law Institute, Minneapolis, Minnesota, April 5, 2007
Panelist, Compliance Directors/Chief Compliance Officers Roundtable/US Firms, SIFMA Compliance and Legal Division, Phoenix, Arizona, March 28, 2007
“Hot Topics in Information Security,” Third Annual Banking Law Institute, Minneapolis, Minnesota, March 6, 2006
“Developing a Culture of Compliance: Evolution or Intelligent Design?”, Corporate Counsel Symposium, Minneapolis, Minnesota, November 3, 2005
“Developing a Culture of Compliance,” Dorsey & Whitney client presentation on White Collar Crime, Minneapolis, Minnesota, June 9, 2005
“Application of Investment Adviser Regulations to Family Offices,” Dorsey & Whitney Tax, Trusts and Estates Group presentation for family office clients, Minneapolis, Minnesota, May 19, 2005
“Broker-Dealer Regulatory Basics,” Dorsey & Whitney Core Training for Attorneys & Clients, Minneapolis, Minnesota, May 17, 2005
“Information Restrictions and Solutions: Investment Banking Communications Barriers under the Analyst Conflict Regulations,” D.A. Davidson Equity Capital Markets Summit, Portland, Oregon, May 13, 2005
“Anti-Money Laundering and Suspicious Activity Reporting Obligations and Procedures,” presentation to U.S. Bancorp, Minneapolis, Minnesota, May 4, 2005
"Supervisory Responsibilities and Liabilities of Managers," D. A. Davidson & Co. Branch Manager Training, Great Falls, Montana, April 19, 2005
“Bank Broker-Dealer Regulation and the Continuing Saga of Regulation B,” Second Annual Banking Law Institute, Minneapolis, Minnesota, March 7, 2005
“Demystifying Hedge Funds: Hedge Fund Registration and Regulatory Issues,” Professional Risk Managers International Association, University of California at Berkeley MFE Forum, March 3, 2005
“Small Firms Outlook: A regulatory update on the challenges and changes in securities regulation,” Securities Industry Association Western District 2005 Annual Conference, Pebble Beach, California, February 26, 2005

Professional Activities

Co-Chair, Minnesota Uniform Securities Act Committee
Member, Securities Industry and Financial Markets Association Compliance and Legal Division
Member, Minnesota State Bar Association
Member, Montana State Bar Association
State Bar of Montana Corporate Law Revision Committee, 1990-1991
Regional Administrator, Montana Commission on Practice, 1997-2001

Attorney Articles

June 2007	When is a Broker an Investment Adviser? Using Basic Agency Law as a Guide
August 2005	"The Annual Review Requirement of the New Compliance Rule: Who, What, When, and How," Compliance Review
March 2005	"SEC Adopts New Short Sale Rules," Business Law News
July 15, 2004	Investment Adviser Codes of Ethics