Brenden P. Carroll


Brenden P. Carroll


Washington, D.C. | 1900 K Street, NW, Washington, DC, United States of America 20006-1110
+1 202 261 3458 | +1 202 261 3333


Brenden Carroll represents U.S. registered investment companies and investment advisers in a wide variety of regulatory, transactional and compliance matters. These matters include complex fund merger transactions, the development and launch of new funds, the preparation of registration and proxy statements and seeking exemptive, interpretive and no-action relief (including novel relief) from the U.S. Securities and Exchange Commission (SEC). He also advises boards of directors/trustees of U.S. registered investment companies on fund governance and fiduciary oversight matters.

Mr. Carroll has significant experience with respect to the SEC’s new liquidity risk management rule. He has had major speaking roles on industry panels and has been quoted in the financial press (including Ignites and Compliance Week) with respect to this regulatory initiative.

Mr. Carroll 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.

He has also worked on a wide variety of matters on behalf of money market funds operating in accordance with Rule 2a-7 under the Investment Company Act, and was actively involved in advising money market fund clients on the SEC’s money market fund reforms that were adopted in July 2014.

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. The award recognizes a diverse group of professionals under the age of 40 who have distinguished themselves in the fields of housing and/or finance.

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

  • Georgetown University Law Center, J.D., 2008
  • University of Colorado at Boulder, B.A., Economics, 2002
  • District of Columbia
Speaking Engagements
  • Selective Disclosure and Insider Trading Considerations for U.S. Fund Managers in the Current Environment — COVID-19 Coronavirus Business Impact Webinar (May 1, 2020)
  • Regulatory and Other Issues for Money Market Funds: ESG and European Reforms — Crane's Money Fund Symposium, Minneapolis, MN (October 28, 2020) 
  • Challenges for Fund Boards in Light of COVID-19 — The Mutual Fund Directors Forum, Webinar (March 27, 2020)
  • Money Market Funds – Managing Stress — Dechert LLP, Webinar (March 24, 2020)
  • Managing Compliance with the U.S. Registered Funds Liquidity Rule in the Current Environment — Dechert LLP, Webinar (March 20, 2020)
  • SEC Standard of Conduct Rulemakings / Regulation BI (Best Interest) — 2019 Los Angeles Investment Management Symposium, Los Angeles, CA (November 21, 2019)
  • SEC Standard of Conduct Rulemakings / Regulation BI (Best Interest) — 2019 San Francisco Investment Management Symposium, San Francisco, CA (November 19, 2019)
  • SMA & Ultra‐Short Update; Bond Fund Regs — Crane's Money Fund Symposium, Boston, MA (June 25, 2019)
  • Money Fund Regulations: 2a-7 Basics & History — Crane's Money Fund University, Stamford, CT (January 18, 2019)
  • Political Contributions and “Pay-to-Play” — Presented by the Regulatory Compliance Association (September 19, 2018)
  • MMF Industry’s Future —  iMoneyNet’s Money Market Expo, Orlando, FL (March 15, 2018)
  • The Chief Challenges of the SEC's Liquidity Rule — Presented by Ignites (November 30, 2017)
  • Liquidity Management and Swing Pricing: New Responsibilities for Boards — Presented by the Mutual Fund Directors Forum, Webinar (November 21, 2016)
  • Update on U.S. Regulation of Funds and Asset Managers: Implications for Europe — EFAMA Investment Management Forum 2016, Brussels, Belgium (November 17, 2016)
  • Overview of the SEC's Money Market Fund Reform Amendments — Dechert LLP, Webinar (August 14, 2014)