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2 Wall Street
New York, New York 10005
D/212-238-8791

Clients and colleagues say I’m very good at putting projects together. I determine how to gather essential information, assess it, and work with the people around me to address issues and solve problems. I excel at identifying what my clients want, plotting a path with them, staying flexible and calm. My reputation as someone with personal integrity and a sense of independence allows me to view situations realistically, clearly, and fairly.

Widely recognized for delivering high-quality legal service, securities and investment management attorney Mary Joan Hoene brings diverse knowledge of the financial services industry to clients. With a strong chain of experience in the business, government, and legal worlds, Mary Joan uses these perspectives to help clients navigate business, regulatory and enforcement issues. She has particular familiarity with the Investment Company and Investment Advisers Acts of 1940.

Collaborating closely with clients and professional teams, Mary Joan counsels fund sponsors, investment advisers, broker-dealers, commodity trading advisors, ETFs, registered and private funds, banks, insurance companies, and the independent directors of investment companies.

Previously Mary Joan held senior positions with several financial service institutions, including as Independent Fund Chief Compliance Officer at Bank of America where she was responsible for establishing and defining the fund compliance program for mutual fund families aggregating more than $200 billion in assets, following the bank’s merger with FleetBoston Financial Corp.

Mary Joan served as the first Deputy Director of the Securities and Exchange Commission’s Division of Investment Management, where she oversaw the disclosure, chief counsel, investment adviser and EDGAR pilot programs, and coordinated policy positions in legislative, self-regulatory and state matters, inspection and enforcement, and overall division policy.

This rich background provides Mary Joan with a broad and deep perspective that enhances her ability to serve clients.

Experience

  • ETFs: Led the legal and development work for the first exchange-traded gold fund, SPDR® Gold Trust; represented ETFs based on ADR indexes through product design, SEC registration, no action and exemptive relief and launch. Represented the American Stock Exchange in ETF new product development, SEC, corporate and listing matters, and in obtaining the necessary foreign regulatory approvals to list ETF shares overseas.
  • ETFs: Led project to evaluate use of an institutional agency broker firm for ETF portfolio transactions. Ongoing representation of ETF Trustee and Custodian.
  • Investment Advisers and Private Fund Managers: General and corporate representation, SEC and state registration and compliance, SEC no action relief, SEC inspections, regulatory matters and litigations, E & O, D & O insurance claims, investment management and related agreements, compliance policies and procedures, ERISA, CFTC and NFA issues. Private fund formation; adviser registration of private fund managers.
  • Variable Annuities and Variable Life Securities Products: Managed the conversion of a family of insurance-wrapped mutual funds into a manager of managers insurance product, including SEC registration and necessary exemptive relief. Compliance and risk reviews of insurance company separate accounts, unit investment trust operations, and mutual funds. SEC registration and compliance. Distribution and state regulatory issues.
  • Closed End Funds: SEC registration, periodic reporting and corporate work; proxy fights, liquidation and deregistration, representation of independent directors.
  • Broker-Dealers: Broker-dealer status issues. Mutual fund and ETF distribution. Wrap fee programs. Represented major unit investment trust sponsor - UIT SEC registration, distribution, and compliance.
  • Mutual Funds and Independent Directors: SEC registration, SEC no action and exemptive relief, corporate, and administration related work. Fund mergers and liquidations. Representation of independent directors. Development and administration of fund compliance programs, including policies and procedures. Special review of a fund compliance program for a mutual fund board; mutual fund governance review projects; handled large insurance E & O, D & O financial institution claims. Assistance on investigations, litigations and regulatory matters.
  • Securities Law: Cross-Border offerings, disclosures, investment company status issues.

Additional Experience

  • 2009-2010 Counsel, SNR Denton LLP (previously Sonnenschein Nath & Rosenthal LLP), New York, New York
  • 2004-2007 Independent Fund Chief Compliance Officer, Bank of America NA, Boston, Massachusetts and New York, New York
  • 1999-2004 Partner, Carter Ledyard & Milburn LLP (Counsel 1999-2000), New York, New York
  • 1998-1999 Vice President and Counsel, Equitable Life Assurance Society of the United States, New York, New York
  • 1994-1998 Divisional Senior Vice President, Financial Institutions and Governmental Affairs, AIG Technical Services Inc., New York, New York
  • 1988-1994 General Counsel, Mitchell Hutchins Asset Management Inc., subsidiary of PaineWebber Incorporated, New York, New York
  • 1985-1988 Deputy Director (Associate Director 1985-1986), Division of Investment Management, Securities and Exchange Commission, Washington, D.C.
  • 1981-1985 Senior Associate, corporate, securities, bankruptcy practice at Greenbaum, Wolff & Ernst, continued at Rosenman & Colin, LLP, New York, New York, following liquidation of the Greenbaum firm in 1982.
  • 1976-1981 Associate bankrutcy and litigation at Paul Landy Beiley & Yacos, PA, (1976-1978) Blackwell, Walker, Gray, Powers, Flick and Hoehl, Miami, Florida (1978-1981).
  • 1975-1976 Law Clerk, The Honorable W.O. Mehrtens, United States District Court, Southern District of Florida, Miami, Florida

Judicial Clerkships

  • Law Clerk, United States District Court, Southern District of Florida, Miami, Florida, The Honorable W.O. Mehrtens

Community Connections

  • Past service on City of Newport, RI Zoning Board
  • Support for and involvement with Aquidneck Island, RI non-profits involved with preservation, the arts and the environment

Outside the Office

I enjoy tennis, being outdoors, all things music, and reading.

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