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Schulte Roth & Zabel LLP

919 THIRD AVENUE, NEW YORK, NY 10022, USA
Tel:
Work +1 212 756 2000
Fax:
Fax +1 212 593 5955
Web:
www.srz.com
London, New York, Washington DC

Betty Santangelo

Tel:
Work +1 212.756.2587
Email:
Schulte Roth & Zabel LLP

Work Department

Litigation, Bank Regulatory, Financial Institutions, Regulatory & Compliance, Securities & Capital Markets, Securities Enforcement, Securities Litigation, White Collar Defense & Government Investigations

Position

Betty Santangelo focuses her practice on white-collar criminal defense and securities/bank enforcement. A former Assistant U.S. Attorney for the Southern District of New York, where she specialized in securities and commodities fraud prosecutions, her practice includes representing financial institutions (banks, broker-dealers, mutual funds, FCMs, insurance companies, investment advisers, hedge funds and private equity funds), other corporate entities and individuals in matters brought by the U.S. Attorneys’ offices, by various regulatory agencies, including the SEC, the bank regulatory agencies, the CFTC, FINRA, SIGTARP, international regulators (such as the FCA) and state and local prosecutors. Betty also has significant experience conducting internal investigations for these entities. In addition, she has served as an independent consultant in SEC enforcement matters examining both the NYSE and a regional broker-dealer. Prior to joining SRZ, Betty served as First Vice President and Assistant General Counsel for Merrill Lynch, representing the firm and its employees in enforcement proceedings before federal and state regulatory agencies, and in criminal matters before U.S. Attorneys’ offices and state prosecutors, as well as in foreign jurisdictions. She has also served as Division Director of the ABA Litigation Committee and Chair of its Securities Litigation and Broker-Dealer Subcommittees. She has contributed a chapter on “Representation Prior to Indictment” in the book Defending Federal Criminal Cases: Attacking the Government’s Proof (Law Journal Press, 2009, 2015), co-authored the “Civil and Criminal Enforcement” chapter of the Insider Trading Law and Compliance Answer Book (Practising Law Institute, 2011-2016) and contributed three chapters in Broker Dealer Regulation (Practising Law Institute, 2009-2010, 2014). In addition to The Legal 500 United States, she is listed in The Best Lawyers in America, Expert Guide to the World’s Leading Women in Business Law and New York Super Lawyers, three of the most respected listings of lawyers, by practice area, who have attained a high degree of peer recognition and professional achievement. In 2009, the New York Chapter of the National Organization for Women presented her with its annual Women of Power and Influence Award.

Nationally recognized for her expertise in corporate compliance issues, including anti-money laundering, OFAC and FCPA, Betty’s representation of financial institutions in white collar and regulatory matters frequently draws on these areas of expertise, including advising financial institutions on their anti-money laundering/OFAC/FCPA procedures. At Merrill Lynch, she was responsible for oversight of all Bank Secrecy Act reporting and anti-money laundering activities, and the implementation of Merrill Lynch’s anti-money laundering procedures. Among her many professional activities, she has served as the Securities and Futures Industry’s representative on the Bank Secrecy Act Advisory Group of the U.S. Department of the Treasury. Betty also is a founding member of and has served as counsel to the Securities Industry and Financial Markets Association’s (SIFMA) Anti-Money Laundering and Financial Crimes Committee. In 2014, she was honored by SIFMA for her extraordinary contributions to the committee and recognized for her dedication to improving industry compliance. In 1998, the Financial Crimes Enforcement Network of the United States Treasury Department awarded Betty its Director’s Medal for Exceptional Service. That same year, she represented the U.S. securities industry at the Financial Action Task Force (“FATF”) meeting in Brussels, Belgium. In 2002, she represented SIFMA, the Futures Industry Association and the Investment Company Institute at the FATF meeting in Paris. A former adjunct professor at Fordham Law School, where she taught a course on money laundering, Betty is a much sought-after speaker on corporate compliance, anti-money laundering/OFAC/FCPA, white-collar criminal and securities law issues, including at SIFMA, the FIA, ACAMS, the ABA/ABA AML conference and FIBA. From the Emerald Literati Network she received an “outstanding paper” award in 2006 for an article she wrote on money laundering enforcement actions and a “highly commended” award in 2011 for an article she wrote on beneficial ownership information and USA PATRIOT Act obligations. In 2008, she won a Burton Award, which recognizes exceptional legal writing, for an article she wrote on the FCPA. She is a recipient of the YWCA Woman of Achievement award, as well as other awards.

Career

Schulte Roth & Zabel LLP; Merrill Lynch Pierce Fenner and Smith Inc., 1983-97 (First Vice President and Assistant General Counsel); U.S. Attorney’s Office, Southern District of New York, 1977-83 (Assistant U.S. Attorney); Fordham University School of Law, 1982-84, 2003 (Adjunct Professor of Law); Law Clerk to Honorable Vincent L. Broderick (U.S.D.C., S.D.N.Y.), 1976-77; Martin, Obermaier & Morvillo, 1974-76 (Associate).

Member

Member, Board of Directors of National Organization of Italian American Women, 2009–Present; Chair, 2012–14, Chair Elect, 2012, Vice Chair, 2009–11; Member, Editorial Board of Complinet, 2009–Present; Member, Board of Trustees of Federal Bar Council Foundation, 1997–2003, 2005–08, 2012–Present; Member, Fordham Law Alumni Association, Board of Directors, 1997–Present; Member, New York City Bar Association, Federal Courts Committee, 1993–94 ; Division Co-director, ABA Litigation Committee, 1991–92; Chair/Co-chair, ABA Securities Litigation Committee, 1989–91; Chair, Broker/Dealer Sub-Committee of Litigation Committee, 1987–89; Member, ABA White Collar Crime Committee, 1993–Present; Secretary, New York Women’s Bar Association, 1976–77. Professional Activities: Securities Industry and Futures Industry Representative, U.S. Treasury Department Bank Secrecy Act Advisory Group, 1995–2008; Member, SIFMA Anti-Money Laundering and Financial Crimes Committee, 2014–Present; Counsel, 2000–2014; Member of U.S. Delegation to FATF, October 2002; Chair, Ad Hoc Securities Industry Group on Bank Secrecy Act and Anti-Money Laundering, 1995–2000; U.S. Securities Industry Representative, Financial Action Task Force, 1998.

Education

Fordham University School of Law, J.D.; Trinity College, B.A.; University of Oxford, Honors Program.


United States: Finance

Financial services regulation

Within: Financial services regulation

Now benefiting from considerably enhanced bandwidth following the arrival in March 2016 of broker-dealer regulatory practitioners Julian Rainero and Craig Warkol from Bracewell LLP, Schulte Roth & Zabel LLP’s New York-based team provides ‘accurate and highly practical “real world” perspectives and business-oriented advice’ to a mix of banks, asset managers and broker-dealers. Praised for his ‘excellent industry knowledge’, Rainero is frequently involved in many of the most closely scrutinized trading issues, including those related to high-frequency trading firms and dark pool operators. The ‘very talentedJoseph Vitale provides ‘timely, thorough and effective’ advice on bank regulatory matters and is best known for regulatory advice on matters at the nexus of the funds and banking industries. Praised for his ‘business acumen’, Vitale has been particularly active representing foreign banks as they seek to navigate US regulatory rules, and is advising Credit Suisse on compliance with the Bank Holding Company Act, including the restructuring and reorganizing of its Systematic Market-Making group in order to fit within certain exemptions pursuant to the Volcker Rule’s restrictions on proprietary trading. Vitale continues to represent Cerberus in its investments in regulated financial institutions, including advising it on the acquisition of NRAM plc from UK Asset Resolution. The team also includes Donald Mosher, noted for payments matters, and Betty Santangelo, who excels at AML issues.

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