Bruce H. Newman


Newman, Bruce H.

Bruce Newman has extensive experience handling a broad range of broker-dealer regulatory and enforcement issues, including issues related to trading, sales, research, banking, soft dollars, cross-border activities, net capital, customer protection, margin, and new and continuing membership applications.

Mr. Newman has extensive experience in broker-dealer issues, policies and compliance practices. Mr. Newman has previously served as Director of Equities Compliance and Executive Director at UBS Warburg LLC, Director of Capital Markets Compliance at PaineWebber, Inc. and Branch Chief of the Broker-Dealer Enforcement Division of the SEC.


At UBS Warburg and PaineWebber, Mr. Newman primarily was responsible for designing, implementing and maintaining a comprehensive program to ensure that the firms’ securities businesses operated in compliance with all relevant rules and regulations. He conducted training, provided legal and compliance advice, researched legal issues, wrote policies and procedures and supervised a staff that monitored trading and sales activities. Mr. Newman began his legal career at the SEC as a Staff Attorney in 1991 and served as Branch Chief of the Broker-Dealer Enforcement Division from 1994 to 1996. Before joining UBS Warburg, he was with PaineWebber Inc., serving as Assistant General Counsel from 1996 to 1997 and as Director of Compliance - Capital Markets from 1997 to 2000.

Honors & Awards

Publications & News


December 15, 2014

SEC Requests Comment on NMS Plan to Implement Tick Size Pilot Program for Small Cap Stocks

In June, the Securities and Exchange Commission issued an order directing the national securities exchanges and the Financial Industry Regulatory Authority act jointly in developing and filing with the Commission a national market system plan to implement a tick size pilot program.

October 1, 2014

Recent regulatory developments provide some clarifications regarding the market access rule for broker-dealers

An article by Bruce H. Newman, Elizabeth Mitchell, Stephanie R. Nicolas, Andre Owens and Ashley E. Bashur published in Journal of Investment Compliance,Vol. 15, Issue 3, pp. 10-19.

May 23, 2014

Chambers USA Ranks Top WilmerHale Lawyers and Practices in 2014 Edition

We are pleased to announce the names of the individuals and practice areas that are ranked in the 2014 edition of Chambers USA: America's Leading Lawyers for Business.

April 22, 2014

SEC Staff Issues First Set of FAQs on Rule 15c3-5, Risk Management Controls for Brokers or Dealers with Market Access

On April 15, 2014, the Staff of the SEC’s Division of Trading and Markets issued its first set of frequently asked questions (FAQs) regarding Rule 15c3-5 under the Securities Exchange Act of 1934.

March 26, 2014

SEC Approves New Consolidated FINRA Supervision Rules and FINRA Establishes an Effective Date

Last week, FINRA issued a Regulatory Notice describing changes to its supervision rules and announcing an effective date of December 1, 2014.

December 23, 2013

The Volcker Rule Handbook: A Detailed Look at the Final Rule Implementing Section 619 of the Dodd-Frank Act

Three and a half years after passage of the Dodd-Frank Act, the much anticipated final Volcker Rule has been issued.

October 8, 2013

SEC Staff Issues FAQs on the Liability of Compliance and Legal Personnel at Broker-Dealers

On September 30, 2013, the staff of the Securities and Exchange Commission's (SEC) Division of Trading and Markets issued a new set of frequently asked questions (FAQs) regarding the liability of compliance and legal personnel at broker-dealers under Sections 15(b)(4) and 15(b)(6) of the Securities Exchange Act of 1934 (Exchange Act).

October 7, 2013

Addressing the Need for Speed: CFTC Seeks Comment on Risk Controls for Automated Trading Environments

On September 12, 2013, the Commodity Futures Trading Commission (“CFTC” or “Commission”) published a Concept Release on Risk Controls and System Safeguards for Automated Trading Environments (“Concept Release” or “Release”).

August 15, 2013

Best Lawyers in America® 2014 Recognizes Nearly 100 WilmerHale Partners, Naming Eight “Lawyer of the Year”

Nearly 100 WilmerHale lawyers have been selected for inclusion in the 20th edition of The Best Lawyers in America®—a respected peer-review publication in the legal industry.

July 15, 2013

FINRA Proposes Consolidated Supervision Rules; Comments Due July 29

On June 21, 2013, FINRA filed with the SEC a proposal to adopt consolidated FINRA supervision rules (the Proposal). Comments are due July 29.


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JD, magna cum laude, Yeshiva University, Benjamin N. Cardozo School of Law, 1991, Alexander Fellow; Member, Cardozo Law Review

BA, Rutgers University, 1987

Bar Admissions

New York