Assistant Office

ESTER SAVERSON, JR.

**** ******* ******, ** · Washington DC 20009 · 202-***-**** · DC Bar (1980)

Professional Experience

May 2017 – Present Stennis–Moore Financials, Washington, DC. President and Consultant. Covering such area as compliance and inspection of broker-dealers and investment advisers, Market oversight, Enforcement and other areas of securities law. Currently giving advice to the Country of Moldova regarding building a new Central Securities Depository under the direction of Financial Services Volunteer Corps.

January 1996 – April 2017

U.S. SECURITIES AND EXCHANGE COMMISSION, Washington, DC. Office of International Affairs, Assistant Director. Develop international initiatives to foster increased cooperation, enhance regulatory oversight and promote high regulatory standards. Provide guidance and assistance regarding securities regulatory policies involving international forums and treaty negotiations. Work with international organizations, such as the International Organization of Securities Commissions, the Council of Securities Regulators of the Americas and the World Bank, to developing international principles and policies to foster increased cooperation and regulatory oversight; enhance investor protection; promote stronger risk management; and improve transparency. Conduct assessments of securities markets and regulations to foreign securities regulators.

Manage a comprehensive technical assistance and training program involving over eighty emerging market countries. Provide in-country technical assistance and training to countries in the Caribbean, South America, Africa, Asia, Eastern Europe and Middle East. Work with USAID, World Bank, International Monetary Fund, Inter-American Development Bank and other governmental and international organizations in seeking assistance and coordination with the SEC’s technical assistance and training efforts. Provide assistance to countries with developing securities in the area of company law, securities law, contracting law, commercial code and bankruptcy law.

Serve on of the International Advisory Committee for the World Bank’s Payments and Securities Clearance and Settlement Initiative. Member of working group to develop the assessment methodology regarding the Principles for financial market infrastructures (PFMI). Assist with the development of the original Principles for clearing agencies and the 2012 Principles for financial market infrastructures (PFMI) published by the Committee on Payment and Settlement Systems (CPSS) and Board of International Organization of Securities Commissions (IOSCO), which established new international standards for payment systems that are systemically important, central securities depositories, securities settlement systems, central counter parties and trade repositories.

Provide guidance and assistance on a variety of complex issues involving international enforcement cases. Assist the Division of Enforcement in obtaining evidence regarding potential securities violations, including securities fraud, where evidence, records, persons and assets are located in a foreign jurisdiction. Assist foreign securities regulators in obtaining information and records where such evidence is located in the U.S. Work with the Office of Compliance Examinations and Inspections to develop policies and procedures in such areas as inspecting foreign offices or branches of SEC registered investment advisors; international out reach programs to compliance officers of foreign branches or offices of SEC registrants; and gathering information, documents and other evidence from foreign sources including asset verification. Participate in broker-dealer and investment adviser inspections with OCIE and various foreign regulators.

June 1993 - December 1995

U.S. SECURITIES AND EXCHANGE COMMISSION, Washington, DC. Division of Market Regulation, Special Counsel. Participated in discussions with the securities industry to develop industry solutions to cross-margining, clearance and settlement of asset backed securities, dividend reinvestment services and lost shareholders. Participated in the National Conference of Commissioners on Uniform State Law’s 1994 revisions of Article 8, Investment Securities, Uniform Commercial Code. Evaluated and prepared recommendations to the Commission concerning the adoption of new rules. Examined the impact of proposed potential financial products on U.S. financial institutions, public investors, and markets. Advised the Division of Enforcement in penny stock market cases. Provided technical assistance to the Budapest Stock Exchange and the Warsaw Stock Exchange.

July 1988 - May 1993

U.S. SECURITIES AND EXCHANGE COMMISSION, Washington, DC. Division of Market Regulation, Office of Self-Regulatory Oversight and Market Structure, Branch Chief. Assisted in the execution of the SEC’s regulatory program for equity, debt and derivatives clearing corporations and securities depositories (collectively clearing agencies), including whether to recommend for registration applicants seeking to become registered clearing agencies. Reviewed and supervised the review of rules and procedures promulgated by clearing agencies. Researched and supervised the research of legal issues regarding the processing of securities transactions. Participated in the National Conference of Commissioners on Uniform State Law’s 1994 revisions of Article 8, Investment Securities, Uniform Commercial Code. Conducted and participated in conferences with clearing agencies, national securities exchanges, the NASD and other government organizations regarding payment, clearance and settlement issuers.

September 1981 - July 1988

U.S. SECURITIES AND EXCHANGE COMMISSION, Washington, DC. Division of Market Regulation, Office of Self-Regulatory Oversight and Market Structure, Staff Attorney. Reviewed and recommended for approval self-regulatory organizations' proposed rule changes. Participated in the drafting of releases approving applicants as registered clearing agencies. Drafted recommendations in connection with the adoption of new SEC rules. Participated in conferences with clearing agencies, national securities exchanges, the NASD and other government organizations regarding payment, clearance and settlement issuers. Researched legal issues regarding market structure and regulatory oversight.

Education

Georgetown University Law Center:

Master of Laws, February 1981, Washington, DC

Course Emphasis: Securities Law

Washington University School of Law:

J.D., 1979, St. Louis, Missouri

Research Assistant for Professor F. Hodge O'Neal (Corporate Finance)

Whiley Rutledge Moot Court Competition.

University of Illinois:

Honors: Political Science/Math, Bachelor of Arts, 1976, Champaign, Illinois, Debating Society

Speaker of the House Award, Illinois General Assembly

Teaching

American University School of Law, Guest Lecturer (Fall, 1998 and Fall, 1999)

International Institute For Securities Market Development, SEC, Faculty (1996 - Present)

References available upon request

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