Brenden P. Carroll

Brenden Carroll is a partner in Dechert’s financial services group. He represents investment advisers and U.S. registered investment companies in a wide variety of regulatory, transactional and compliance matters. These matters include the development and launch of new fund products, including “tokenized” registered and private funds, “funds of funds” and funds that incorporate environmental, social and governance (ESG) factors into their investment processes. He also advises clients on seeking exemptive, interpretive and no-action relief (including novel relief) from the U.S. Securities and Exchange Commission (SEC) and in SEC examination and enforcement matters. He advised the first ever U.S. registered mutual fund that tokenized its shares on a public blockchain.

Mr. Carroll has significant experience with money market funds that operate in accordance with Rule 2a-7 under the Investment Company Act. He was actively involved in advising money fund sponsors on implementing the SEC’s significant reforms that were adopted in the aftermath of the 2008 financial crisis and the March 2020 COVID-related market dislocation. He also has extensive experience in matters relating to the SEC’s “pay-to-play” rule, which imposes special restrictions on the political activities of investment advisers that seek to do business with state and local pension plans. He has assisted clients with obtaining exemptive relief from the SEC from the rule’s two- year “time out” provision.

Mr. Carroll has been recognized in The Legal 500 (US) in the area of mutual/registered funds. In addition, in 2019, he was selected as one of the “40 under 40” professionals by the Women in Housing & Finance, a D.C.-based member organization focused on housing and financial services. The award recognizes a diverse group of professionals under the age of 40 who have distinguished themselves in the fields of housing and/or financial services.

During law school, he served as a law clerk to a Commissioner of the SEC.