Michael S. Caccese

Practice Areas

Michael Caccese is K&L Gates’ chairman and also serves as the lead practice area leader of the asset management and investment funds practice. K&L Gates maintains one of the most prominent asset management and investment funds practices in the United States – with more than 150 lawyers practicing from Asia, Australia, Europe and the United States, representing diversified financial services institutions and their affiliated service providers. Michael focuses his practice in the areas of investment management, including mutual funds, closed-end funds, registered fund of hedge funds, hedge funds and separately managed accounts, in addition to advising on investment management and broker-dealer regulatory compliance. Michael also advises on structuring investment management professional team “lift-outs” and “placement”, “soft dollar” compliance, investment performance and the Global Investment Performance Standards (GIPS). He is also leading practitioner on investment advisor and broker dealer advertisement and marketing materials, laws and regulations and investment performance calculations and presentations, along with other investment management industry standards of practice.

Michael has held various licenses over his career including Series 7, 14, 24, and 63, and has served as a compliance officer for NYSE and NASD broker-dealers. In addition, he has provided regulatory compliance advice for SEC registered investment advisors and CFTC registered commodity-trading advisors.

Michael has been recognized by various legal directories such as Best Lawyers, Chambers, Intercontinental Finance Magazine Leading Lawyers, Legal 500 and The International Who's Who of Private Funds Lawyers as a leading practitioner in the investment management/broker-dealer area. He is also a two-time recipient of the BTI Client Service All-Star Award from the BTI Consulting Group, Inc., one of the country’s most independent and respected business research companies. BTI compiled its Client Service All-Star list based on interviews with more than 200 corporate counsel at large and Fortune 1000 companies. During these interviews, BTI asked corporate counsel to name individual attorneys who they believe truly deliver client service better than all others. Michael has also been selected by his peers for inclusion in The Best Lawyers in America® since 2014 in the field of Mutual Funds Law.

Professional Memberships

CFA Institute

Publications

"Key Components of the New Marketing Rule: Part 2," The Investment Lawyer, May 2021

"Key Components of the New Marketing Rule: Part 1," The Investment Lawyer, April 2021

“Navigating the New Marketing Rule: Updated Testimonial Rule and Differences From the Proposed Advertising Rule (Part One of Two),” Private Equity Law Report, 16 February 2021

“GIPS 2020 Exposure Draft: What Every Firm Needs to Know,” The Investment Lawyer, Vol. 26, No. 3, March 2019

Modern Compliance: Best Practices for Securities and Finance (three chapters on advertising under SEC, FINRA, CFTC and GIPS) Wolters Kluwer, 2015

Practical Considerations for Performance Advertising by Advisers, (co-authored with Christina Lim) Chapter 7 of Investment Adviser Regulation, A Step by Step Guide to Compliance and the Law, Third Edition, April 2011

GIPS 2010: An Overview, Investment Adviser Association Newsletter, Issue Number 220, April 1, 2011

The Amended Custody Rule: Will the Changes Make or Break You?, Schwab Adviser Services Article, March 2010

Practical Considerations for Performance Advertising by Advisers, (co-authored with Christina Lim) Chapter 7 of Investment Adviser Regulation, A Step by Step Guide to Compliance and the Law, Third Edition, April 2011

Practical Considerations for Performance Advertising by Advisers (co-authored with Christina Lim), Chapter 7 of Investment Adviser Regulation, A Step by Step Guide to Compliance and the Law, Third Edition, August 2006

Corporate Disclosure: Enron Reforms Begin to Take Hold, Mass High Tech, April 1, 2002

Revised Performance Presentation Standards, The Review of Securities & Commodities Regulation, February 27, 2002

AIMR Issues Revised Performance Presentation Standards, NSCP Currents and the Schwab Institutional Compliance Review, September 2001

Revised AIMR Advertising Guidelines, NSCP Currents, August 2001

Performance Standards Go Global, Signal Rise in Competition, Boston Business Journal, May 18, 2001

Investment Basics: AIMR’s Performance Presentation Standards: Gaining Global Acceptance, South Africa Investment Analysts Journal, December 1997

AIMR Performance Presentation Standards: Their Needs and Acceptance, Securities Analysts Journal of Japan (published in Japanese), December 1997

Insider Trading Laws and the Role of Securities Analysts, Financial Analysts Journal, March/April 1997 and INSIDERRECHT fur Finanzanalysten, November 1997

Investment Adviser Performance, National Society of Compliance Professionals Currents, May/June 1997

Ethics and the Financial Analyst, Financial Analysts Journal, January/February 1997

Plaintiff Attorneys vs. Analysts, Pension & Investments, December 11, 1995

Standards in Performance Presentation, The European Federation of Financial Analysts’ Societies Insider, September 1994

Education