People

Amy R. Doberman

Partner

Doberman_Amy

Amy Doberman has more than 25 years of experience advising clients on federal securities laws, compliance and regulatory requirements pertaining to retail and institutional asset management and wealth management businesses, including almost seven years at the Securities and Exchange Commission. She has extensive experience counseling investment advisers regarding SEC examinations and enforcement matters, mutual fund and ETF product development, and fund board relationships and process. She also focuses on mutual fund and ETF distribution issues, as well as sales practice and advertising requirements.

Prior to joining the firm, Ms. Doberman was general counsel of ProShares, a $30 billion ETF and mutual fund complex, where she was responsible for all legal and compliance issues. Previously, Ms. Doberman was a managing director in Morgan Stanley Investment Management's legal and compliance department, managing director and general counsel-Americas at UBS Global Asset Management, and general counsel of Aeltus Investment Management (now part of Voya Financial). From 1990 to 1996, she worked at the SEC, beginning in the Division of Enforcement and then moving to the Division of Investment Management, where she was assistant chief counsel.

Ms. Doberman chaired the Investment Company Institute's Rules Committee from 2009 to 2012 and the Institute's Mutual Funds Conference in 2008 and 2009. She is a frequent speaker at major industry conferences and has served on several industry task forces, including the ABA Task Force on Investment Company Use of Derivatives, and is a member of the New York City Bar Association Investment Management Committee.

Publications & News

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February 8, 2018

WilmerHale Represents Westmount Asset Management on Sale of Rosemont Stake to Temperance Partners

Westmount Asset Management, one of the oldest and largest independent investment firms in Los Angeles, has closed on the sale of Rosemont Investment Partners' stake in the firm to Temperance Partners.

May 26, 2017

ETF Boards Need to Apply Gartenberg Differently

In this article, published in Fund Directions, Amy Doberman argues that boards, when engaging in advisory fee deliberations for exchange-traded funds, must take a fresh approach, factoring in external distribution, unitary fees and operational differences from mutual funds.

March 21, 2017

Doberman: ETF Approval Process Needs Streamlining by the SEC

In a recent op-ed for The Hill, Partner Amy Doberman explains why the time is right for the Securities and Exchange Commission to adopt a rule that will fast track approvals and level the playing field for “plain vanilla” exchange-traded funds.

February 2, 2017

Efficiency at What Cost? Advantages of a Separate Board for ETFs

A recent article by Amy Doberman in The Investment Lawyer alerts asset managers to a number of issues arising from using the same board of trustees to oversee both mutual fund and exchange-traded fund complexes.

December 2, 2016

Change and Continuity in Securities Regulation

Given the fluidity of the regulatory environment, making accurate predictions regarding what to expect from the SEC under a new Administration and a new Chair is difficult. Nevertheless, in this Client Alert we explore possible key areas of securities regulation that may be affected under the new Administration. This Client Alert was republished by the Harvard Law School Forum on Corporate Governance and Financial Regulation.

November 11, 2016

SEC Considering Key Changes to Derivative Exposure Calculations

On November 1, 2016, the SEC Division of Economic and Risk Analysis published additional economic analysis setting forth the methodology used to analyze certain comments received on the SEC's proposed rule regarding the use of derivatives by registered funds and business development companies.

October 24, 2016

Liquidity Management and Reporting Modernization Rulemaking

On October 13, 2016, the Securities and Exchange Commission approved three new rules under the Investment Company Act of 1940.

July 7, 2016

SEC Proposes New Requirement for Business Continuity Plans for Investment Advisers

On June 28, 2016, the Securities and Exchange Commission proposed a rule that would require all SEC-registered investment advisers to adopt and implement a business continuity and transition plan.

May 16, 2016

Finding The Perfect Derivatives Risk Manager

In this article published by BoardIQ, Amy Doberman discusses a rule that the Securities and Exchange Commission proposed in December addressing the use of derivatives by registered investment companies.

May 11, 2016

SEC Proposal on Investment Company Use of Derivatives – A Solution in Search of a Problem?

In this article published by The Review of Securities & Commodities Regulation, Amy Doberman discusses the proposed Investment Company Act Rule 18f-4 and addresses that the new requirements will further restrict the ability of registered funds to invest in derivatives and increase the oversight burden on fund boards.

Practices

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Education

JD, New York University School of Law, 1986

BA, Government, magna cum laude, Cornell University, 1983

Bar Admissions

New York

District of Columbia

Connecticut

Maryland

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