People

Paul M. Architzel

Partner

Architzel, Paul M.

Paul M. Architzel is a partner at WilmerHale, co-chair of the Futures and Derivatives Group, and a member of the Broker-Dealer Compliance and Regulation Group.

Mr. Architzel's practice covers all areas of futures and swap regulation, including the regulation of futures exchanges, swap execution facilities, foreign boards of trade, derivatives clearing organizations, futures commission merchants, introducing brokers, commodity pool operators and commodity trading advisors. He is an authority on issues involving the listed derivatives markets, the clearing and trading of OTC derivatives, end-user market participation and cross-border access issues. He also handles complex matters that involve the overlapping jurisdiction of securities and futures regulations, as well as compliance issues facing hedge funds and commodity pools. Mr. Architzel practices actively before the Commodity Futures Trading Commission (CFTC) as well as the Securities and Exchange Commission (SEC), and is a frequent speaker at futures and derivatives industry conferences.

Before entering private practice, Mr. Architzel served as Chief Counsel of the CFTC's Division of Economic Analysis, now the Division of Market Oversight, for more than 25 years, and was the chief architect of the Core Principle framework for futures market regulation. Mr. Architzel also spent several years as the chief US regulatory counsel for Eurex Frankfurt AG, a global derivatives/futures exchange and clearinghouse.

Honors & Awards

  • Recognized in the 2010-2018 editions of Best Lawyers in America for his work in derivatives and futures law
  • Named to BTI Consulting's Client Service All-Stars 2017 list for exhibiting exceptional client service
  • Given Presidential Rank Award of "Distinguished Executive,” (2000), the highest government-wide award to senior executives, chosen by independent, private-sector panel
  • Regulatory Innovation Award, (CFTC 2000)
  • Chairperson's Award for Excellence, (CFTC 1998)
  • Distinguished Service Award, (CFTC 1996)

Publications & News

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September 27, 2017

New CFTC Enforcement Policy Encourages Self-Reporting

In January of this year, the Commodity Futures Trading Commission's (CFTC or Commission) Division of Enforcement (the Division) issued revised cooperation credit guidelines for companies, and its first-ever cooperation guidelines for individuals (together, the January 2017 Advisories).

August 16, 2017

WilmerHale Lawyers Named Among the 2018 Best Lawyers in America®, Nine Recognized as Lawyers of the Year

Best Lawyers in America®—the oldest and most respected peer-review publication in the legal industry—recognizes 107 WilmerHale lawyers and names nine partners as Lawyers of the Year in its 24th edition.

August 4, 2017

SEC Confirms Certain ICOs Are Securities Offerings; Regulators Renew Focus on Cryptocurrencies

Participants and observers in cryptocurrency markets have long expected input from the SEC on the question of whether offerings of cryptocurrencies would be subject to the federal securities laws. On July 25, the SEC issued a Report of Investigation pursuant to Section 21(a) of the Securities Exchange Act of 1934 of its investigation of an offering of digital tokens by “The DAO,” an unincorporated virtual organization. This WilmerHale Client Alert was republished in Bloomberg BNA's Securities Regulation & Law Report.

June 1, 2017

CFTC Rewrites Recordkeeping Requirements

The Commodity Futures Trading Commission (CFTC or Commission) has significantly amended its recordkeeping requirements, a change that will affect all entities and individuals who are required to maintain books and records under the Commission's rules.

May 24, 2017

CFTC Increases Anti-Retaliation Protections for Whistleblowers

On May 22, 2017, the Commodity Futures Trading Commission (CFTC or Commission) amended its whistleblower rules to enhance protections for whistleblowers against retaliation and assert its own authority to bring enforcement actions against retaliation.

February 28, 2017

Hedge Fund Law Report Highlights WilmerHale's CFTC Year in Review

The Hedge Fund Law Report profiled a webinar by WilmerHale's Futures and Derivatives Practice that analyzed the Commodity Futures Trading Commission's major actions in 2016 and its top priorities for 2017.

February 7, 2017

BTI Consulting Recognizes Three WilmerHale Partners as Client Service All-Stars

Partners Paul Architzel, Paul Eckert and Kimberly Wethly were named to BTI's Client Service All-Stars 2017 list.

January 24, 2017

CFTC Proposes Greater Flexibility for Electronic Record-Keepers

In a move that affects everyone required under its rules to maintain records, the Commodity Futures Trading Commission's is proposing to permit greater flexibility in the technology used for electronic record retention and production, to remove the requirement that records be stored in their “native file format” and to no longer require use of a third-party technical consultant. If adopted, the proposed rule will enable record-keepers to update and potentially streamline their current record storage technology and systems.

January 23, 2017

2016 CFTC Year-in-Review and a Look Forward

In 2016, the CFTC continued to pursue high-profile enforcement cases and to test its new enforcement authority under the Dodd-Frank Act. This WilmerHale Client Alert was republished by the Harvard Law School Forum on Corporate Governance and Financial Regulation and the Futures and Derivatives Law Report.

November 9, 2016

CFTC Revises Proposed Reg AT

The Commodity Futures Trading Commission on November 3, 2016, proposed revisions  to proposed Regulation Automated Trading (Reg AT). Reg AT, if adopted, will broadly affect those in the futures industry who trade electronically, imposing new registration and supervision requirements on algorithmic traders.

Professional Activities

Mr. Architzel was an adjunct professor of law in the Securities and Financial Regulation LLM program at Georgetown University Law Center where he taught Futures Regulation and the Commodity Exchange Act.

Practices

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Education

JD, The National Law Center, George Washington University, 1978, Order of the Coif, GWU Trustee Scholarship

BA, summa cum laude, State University of New York at Albany, 1975, Phi Beta Kappa, Signum Laudis, SUNYA

Bar Admissions

District of Columbia

Government Experience

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