Frank Daniels Email and Phone Number

Project manager currently conducting a full scale review of the Margin polices and procedures of Nomura Securities, including but not limited to; Portfolio Margin, Regulation T, Regulation U, FINRA 4210, and Arranged Financing.

Manager of an Operations team with responsibilities of insuring over 3,000 margin accounts met all Regulatory and House requirements. My team interfaced with the Merrill Lynch's Risk and Control team regarding any issues and concerns, then worked with both internal Customer Service Mangers as well as having direct contact with the client to reach a necessary solution. Accomplishments included in the re-design of the proprietary account moneyline system as it related to the calculation of foreign currency haircuts under Rule 15c3 for Market Makers, allowing foreign products to be held on Margin within Introducing Firm proprietary accounts; The migration of Broker Dealer accounts of the Firms Clearing Services group (Broadcort) onto the Control team’s House Risk System, so that they could properly be monitored vs. House requirements; Updated the Department’s policies and procedures related to the manual pricing of unpriced securities held in Margin client accounts required to correct findings of a Federal review.

Control Manager involved in the oversight of the day-to-day activity within Broadcort Clearing Services. Served as the point of contact for both the Introducing Firm clients as well and with the Divisions internal business teams for interpretations of Margin rule and regulations and the effect on positions and balances held within underlying client accounts. I was responsible for the oversight of over 75 Introducing Firm’s proprietary accounts (holding over $ 1 billion in assets). I also had various duties and worked with teams involving Anti Money Laundering, Compliance, Regulatory Reporting, Client On-Boarding, and Strategic Development. Some highlighted accomplishments include being a Key Contributor in the development and approval of Portfolio Margin capability for the Firm; The designing and implementation of A6 financing for Introducing Firms; The management of notification and actions taken in regards to Buy Ins of open Fails to Receive, resulting in a need for market intervention on less than 1% of the outstanding potential obligations.

Client Services Group Manager of a team of up to 25 individuals which served as a liaison between Introduced third party broker dealer clients and various Merrill Lynch Operations teams regarding but not limited to the following functionality: Institutional clearance and settlement trade activity; Retail Margin account activity; Broker Dealer (Proprietary) accounting. Responsibilities and accomplishments included the writing and implementing policies and procedures for the settlement of Syndicate trade offerings; Interacting with the Firm’s Anti Money Laundering group to establish rules and regulations for third party pay out requests from client accounts; Key contributor in the development of internal processes to clear fixed income trades through the Mortgage-Backed Securities Division. Member of the New Business Committee, responsible to review potential new Introducing Firm clients’ proprietary balances as well as the Margin and Option accounts of its underlying clients, then advising senior management of any issues or concerns.

• Oversaw day-to-day Compliance functions vs. account activity related to both Regulatory and In-House Firm rules and regulations.• Responsible for the monitoring and reporting on all Control/Restricted Margin Accounts. • Identified, minimized, and controlled financial exposure to the Firm by preparing and analyzing various reports.