Mr. Bergmann’s practice focuses on complex regulatory matters, with a focus on trading and underwriting issues, short sale regulation, broker-dealer compliance, securities analysts, issuer repurchases of their own stock, transfer agents, and Enforcement-related matters.
He is also a member of the Firm’s Fintech & Blockchain Practice, advising clients on regulatory matters related to blockchain and cryptocurrency assets.
Mr. Bergmann served on the staff of the Securities and Exchange Commission for 30 years. While on the SEC staff, he was a Branch Chief in the Division of Enforcement before being promoted to Assistant Director for Trading Practices in the Division of Market Regulation (now known as the Division of Trading and Markets). He later became Associate Director in that Division and then Senior Associate Director for Trading Practices and Processing.
As Senior Associate Director, Mr. Bergmann’s responsibilities included administering the SEC’s trading practices rules, rules applying to short sales, the activities of research analysts, issuer repurchases, and “soft dollar” interpretations. Among other provisions, he was responsible for the development and administration of Regulation M, Regulation SHO, and the SEC’s interpretive guidance on Section 28(e) of the Securities Exchange Act of 1934. Additionally, he supervised the Commission’s oversight program for clearing agencies and transfer agents, the Automation Review Policy program, and the Division of Market Regulation’s Enforcement Liaison Office.
During his SEC career, he participated in a variety of task forces within the SEC, such as co-chair of the task force on soft dollars (use of client brokerage commissions by fiduciaries to purchase products and services), and the task force to re-write the SEC’s rules of administrative practice. Mr. Bergmann represented the Commission on Standing Committee 2 (Secondary Markets) of the International Organization of Securities Commissions. In that role, he made substantial contributions to numerous published reports and traveled extensively. In 2005, he participated in the International Monetary Fund’s mission to assess the financial infrastructure of Spain, with a focus on its securities clearance and settlement system.
Mr. Bergmann received numerous awards from the Commission, including its highest, the Distinguished Service Award, in 1999. He also received the Presidential Rank Meritorious Service Award in 1993. Among his many activities and interests, Mr. Bergmann currently serves as a Board Member and Member of the Regulatory Oversight Committee of Direct Edge Exchange and as a volunteer at the Jefferson Library of the Thomas Jefferson Foundation in Charlottesville, VA.
SEC Proposes Amendments to Electronic Recordkeeping Requirements for Broker-Dealers and Security-Based Swap Entities
Rule 15C2-11 and Debt – Update
FINRA Rule 6432 – Update
Rule 15C2-11 and Debt Securities
SEC Rule 15C2-11 and FINRA Rule 6432: New Form 211 and QIDQS Requirements
Executive Order 14032 Targeting Certain Chinese Companies: Major Changes
Executive Order 13959: OFAC Issues Amended License 1b
Crypto Investors Withdraw Class Action Suits Against Cryptocurrency Companies
Blockchain Law Center | (05/10/2021)
Executive Order 13959 Update: Government Considering Changes to Designations of Communist Chinese Military Companies
SEC Starts the Roll-Out of the Holding Foreign Companies Accountable Act
Executive Order 13959 Update: Fits and Starts
Executive Order 13959: OFAC Issues Amended License and Related Frequently Asked Questions
Executive Order 13959 Expanded, OFAC Issues Licenses and New Frequently Asked Questions
The SEC Permits Some Broker-Dealers to Custody Customers’ Digital Asset Securities
Blockchain Law Center | (01/04/2021)
Securities Market Players Must Consider Recent Actions Focused on Certain Chinese Companies
Client Alert: U.S. Unanimously Passes S.945
FinHub Becomes a Stand-Alone Office
Blockchain Law Center | (12/04/2020)
CLIENT ALERT: FINRA Proposes Enhanced IDQS Requirements
Rule 15c2-11 Amendments: OTC Market Disruptor?
Rule 105 Disgorgement after Liu
SEC Grants COVID-19-Related Exemptions from Short Sale Rules
CLIENT ALERT - S. 945
SEC Simplifies Rules for “Covered Clearing Agencies”
STRATEGIC PERSPECTIVES—Murphy & McGonigle partner considers potential implications of Telegram rulings
Securities Regulation Daily | (04/09/2020)
Surprise: SEC Opens the Sandbox
Blockchain Law Center | (10/31/2019)
SEC Staff Issues Second Utility Token No-Action Letter
Tenth Circuit Extends SEC’s Geographic Reach. Just How Far Is Uncertain.
SEC Divisions' Statement on Digital Assets
SEC Division Director Offers Welcome Guidance on Digital Assets as Securities
Updating SAFT: Breaking the Security/Utility Token Conundrum
Regulation A+ Expansion
Blockchain Law Center | (05/23/2018)
Crypto Fund Offerings and SEC Regulation M
Regulation A as a Financing Alternative for Securities “Tokens”: Some Considerations
SEC Speaks 2018: Day Two - Trading and Markets
Blockchain Law Center | (02/27/2018)
Another Arrow in the SEC’s Quiver: Trading Suspensions
Blockchain Law Center | (02/21/2018)
What is a Regulation SHO bona-fide market maker?
Journal of Investment Compliance | (2017)
Larry Bergmann Addresses Regulation SHO and Bona-Fide Market Making
Seminars and Presentations
09/26/2018 (02:00 PM - 08:00 PM) | (09/26/2018)
In the News
Former Senior SEC Official Joins Murphy & McGonigle