Richard's practice is concentrated within the areas of commodity futures regulation, broker-dealer regulation, investment management, and creditors' rights and bankruptcy law. His practice in financial services includes representation of futures commission merchants, proprietary trading groups, introducing brokers, trade execution firms, commodity trading advisors, commodity pool operators and exchange members. On the securities side, Richard advises broker-dealers, investment advisors, hedge fund managers and individual registrants. He advises clients on OTC Forex and other swap issues and documentation. He has successfully represented clients on numerous occasions before NFA, FINRA, CFTC, SEC, and various futures and securities exchanges. He represents registered and unregistered fund managers in the formation and operation of private investment funds, onshore and offshore, concentrating in the trading of securities, futures, options and related cash products.
Richard's creditors' rights and insolvency practice includes the representation of banks and other secured creditors, trade creditors, debtors, bankruptcy trustees, assignees, and landlords in a wide variety of issues, both in and out of bankruptcy court, including loan workouts and restructurings, Chapter 11 reorganization, Chapter 7 liquidations, and assignments for the benefit of creditors. On numerous occasions, he has handled the prosecution of defense of avoidance actions, such as those involving fraudulent transfers and preferential transfers.
Since 1995, Richard has been an active member of the adjunct faculty of IIT/Chicago-Kent College of Law, where he regularly teaches courses in financial services regulation and in creditors' rights and bankruptcy law. He was formerly the law clerk for the Honorable Marvin E. Aspen and served as assistant editor of Police Law Quarterly.