Moving the USA to T+2 settlement

Author's Biography

Lee A. Schneider is a member of Debevoise & Plimpton’s Corporate Department and is based in the New York office. He is the head of the broker-dealer regulatory practice and a member of the Financial Institutions Group. He also focuses on financial technology issues. His practice includes the representation of both US and non-US broker-dealers, banks, private fund sponsors and financial services technology companies. He provides day-to-day counsel to these clients on a wide range of matters, including regulatory and enforcement issues, conduct of business questions and general corporate concerns. Mr Schneider works with Debevoise transactional lawyers on structuring and negotiations when the deals involve financial services and technology companies. He regularly assists both financial services firms and their vendors in negotiating technology agreements for all types of services and considering the regulatory issues associated with such technologies. He also advises broker-dealers in the start-up phase of their existence, helping with their application for membership, initial structuring and development of policies and procedures. He speaks on and moderates panels discussing all areas of financial services and technology law, and is quoted frequently on these matters in publications including Bloomberg News, Law360 and the Securities Lending Times. Prior to joining Debevoise, Mr Schneider was General Counsel and a member of the Executive Committee at ConvergEx, a global technology firm specialising in proprietary software products and technologydriven execution services. Mr Schneider previously served as the lead in-house counsel for broker-dealers at The Bank of New York, and prior to that worked as an associate for seven years, including as both a corporate and litigation associate at a leading international law firm. Mr Schneider joined Debevoise in 2012. He received his JD summa cum laude from American University Washington College of Law and his BA in Economics from the University of Michigan. Mr Schneider served as a law clerk for the Hon. Roger J. Miner with the US Court of Appeals for the Second Circuit.

Lilya Tessler is a corporate associate and a member of Debevoise & Plimpton’s Financial Institutions Group. Ms Tessler’s practice focuses on regulatory and business issues related to broker-dealers, financial services firms and technology companies. Prior to joining Debevoise, Ms Tessler managed the legal function at CLSA Americas, a US broker-dealer and affiliate of a global investment bank. Ms Tessler previously served as Associate Counsel at Rothstein Kass, a leading public accounting firm in the investment management industry, and prior to that she was Assistant General Counsel at ConvergEx, a global technology firm specialising in proprietary software products and technology-driven execution services. Ms Tessler joined Debevoise in 2016. Ms Tessler received a JD from New York Law School cum laude in 2009. She received an MS in Accounting magna cum laude and a BS magna cum laude from Babson College in 2005. She is a native Russian speaker. Ms Tessler is a member of the Bar in New York and New Jersey. She is a Certified Public Accountant, FINRA Dispute Resolution Arbitrator, and holds FINRA Series 7 and 24 licenses.

Clare K. Lascelles is a corporate associate and a member of Debevoise & Plimpton’s Financial Institutions Group. Ms Lascelles’ practice focuses on banking and broker-dealer regulatory, transactional and compliance matters. Ms Lascelles joined Debevoise in 2015. Ms Lascelles received a JD from New York University School of Law cum laude in 2015, where she was a scholar in the Mitchell Jacobson Leadership Program in Law and Business. She was a Managing Editor of the NYU Journal of Law & Business and was named a Robert McKay Scholar in 2014. She received a BA from Duke University in 2007.