Brenden P. Carroll
Partner | Washington, D.C.
Brenden P. Carroll

Brenden Carroll represents U.S. registered investment companies and investment advisers in a wide variety of regulatory, transactional and compliance matters. These matters include the development and launch of new fund products, including funds of funds and funds that incorporate environmental, social and governance (ESG) factors into their investment processes. He also advises clients on 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 money market funds that operate in accordance with Rule 2a-7 under the Investment Company Act. He was actively involved in advising money market fund sponsors on the SEC’s money market fund reforms that were adopted in 2010, 2014 and 2015. 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. 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.

  • Asset Management Roundtable - Focus on Recent and Emerging Regulatory Developments — Dechert LLP, Washington, D.C. (May 9, 2024)
  • Try, Try, Try Again: The SEC Adopts Another Round of Money Market Fund Reforms — ICI, 2023 Securities Law Developments Conference, Virtual (October 24, 2023)
  • Money Fund Reforms: Latest US & Pending EU — European Money Fund Symposium, Crane Data (September 25-26, 2023)
  • Navigating the Recent SEC Rulemakings: Money Market Fund Reforms – Dechert LLP, Webinar (August 10, 2023)
  • Regulations: Money Fund Reforms Round III — Money Fund Symposium, Crane Data (June 21-23, 2023)
  • The SEC's Swing Pricing and Liquidity Proposal: What You Should Know — Mutual Fund Directors Forum, Webinar (February 1, 2023)
  • Money Fund Regulations: 2a-7 Basics & History and Money Fund Reforms: Latest 2a-7 Changes — Crane's Money Fund University, Boston, MA (December 16, 2022) 
  • Navigating the Recent SEC Rule Proposal - First Look: The SEC’s Liquidity and Swing Pricing Proposal — Dechert LLP, Webinar (November 10, 2022)
  • Disclosure / SEC Rulemaking — The Catholic University of America Columbus School of Law’s ESG Investing Under the Federal Securities Law Conference, Washington, D.C. (October 28, 2022)
  • Registered Funds Panel — Los Angeles Investment Management Symposium, Dechert LLP, Los Angeles, CA (October 27, 2022)
  • Registered Funds Panel — San Francisco Investment Management Symposium, Dechert LLP, San Francisco, CA (October 25, 2022)  
  • Overview of Money Market Fund Reform: A U.S. Perspective — Crane’s European Money Fund Symposium, Paris (September 27, 2022)
  • Regulation: Money Fund Reforms Round III — Crane's Money Fund Symposium, Minneapolis, MN (June 22, 2022)
  • Navigating the Recent SEC Rulemakings: New Rule 12d1-4: Fund of Funds Arrangements — Dechert LLP, Webinar (February 18, 2021)
  • Money Fund Regulations: 2a-7 Basics & History — Crane's Money Fund University (January 22, 2021)
  • ESG: Where Are We and Where Do We Go From Here? — Dechert LLP, Webinar (September 22, 2020)
  • 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)
    • Georgetown University Law Center, J.D., 2008
    • University of Colorado at Boulder, B.A., Economics, 2002
    • District of Columbia