Howard Macrae Email & Phone Number

Richmond, Virginia Metropolitan Area

Consulting/contracting available in matters relating to financial services regulation, state and local taxation, Federal taxation, transactions, general corporate law, due diligence and litigation support to corporations such as Altria/Philip Morris USA and major local law firms including Hunton & Williams and LeClairRyan (through Special Counsel, Partner JD and HIRECounsel), as well as professional/financial services licensing. Experienced in state lobbying activities.

Primary representation of the Virginia Department of Taxation and tax-related matters affecting the Commonwealth, its departments, agencies and subdivisions, including complex tax litigation. Also, provided representation of the Virginia Board of Accountancy, several other state agencies and related non-profit organizations.

· Primary practice focus was on state and local taxation, including deregulation of electricity suppliers, state tax legislation lobbying activities, general tax and business planning and other business transaction services.· Financial services industry regulation, with particular emphasis on securities broker-dealer compliance (including compliance with ERISA) and the Sarbanes-Oxley Act, product development and insurance agency regulation.

· Oversight of Tax Policy, Regulations, Rulings, Legislation and Advisory Opinions.· Representing Executive Branch tax initiatives to the Legislature.· Served as administrative hearing officer in tax assessments appeals; drafted and recommended formal determinations.· Leading the Department’s annual legislative process, including drafting, commentary and summarization of tax legislation in the Virginia General Assembly.· Liaison with high-level external customers, including members of the Executive and Legislative Branches of state government, tax professionals, industry and professional associations to resolve complex, policy and legislative issues.· Managing a large team of tax professionals to lead Tax Policy operation in a highly-technical, customer service-oriented environment; development and promulgation of regulations under Virginia Administrative Process Act;and, supervision of the Department’s litigation handled by the Attorney General’s Office.

· General representation of WFBS, its Finance Group and its subsidiaries in all facets of their financial services businesses, with particular emphasis on complex inter-disciplinary issues, private placements of WFBS stock, document analysis and negotiation (hardware leases, software licenses; secured, unsecured and subordinated loans; and lease financings).· Provided legal support on tax, employment, retirement (including ERISA and IRA’s) and deferred compensation matters pertaining to WFBS, its affiliates and their dealings with clients, including membership on the Benefits Administrative Committee for WFBS' own benefits plans.· Direct participation in the negotiation of home office, operations center and branch office leases, as well as the negotiation and placement of insurance policies maintained by WFBS for its own risk management program, including stockbroker’s blanket bond, directors’ and officers’ and general partners' liability policies.· Provided legal support to WFBS’ task groups in the conceptualization, development and implementation of new products and services; membership on Advertising and Sales Promotion Committee and Internal Audit Committee; participation on Management Committee, Fairness Opinions Committee and Risk Management Committee.· Provided legal counsel to WFBS' subsidiaries, and initiated programs to maintain legal compliance in securities, insurance and real estate sales, federal and state tax reporting as well as trust company operations.· Investigated, formulated positions and responded directly to clients and regulatory authorities on customer complaints and investigations; participated in customer arbitrations; and supervised representation of firm in arbitrations and judicial cases.· Handled examinations and investigations of the firm by federal and state government securities administrators, self-regulatory organizations, the Department of Labor and the Internal Revenue Service.

Responsibilities included coordination of legal work for numerous acquisitions of a major affiliate (now Hilb, Rogal & Hobbs, Inc.); Legal Counsel to Company’s PAC; Federal, state and local tax matters and tax planning; oversight relating to real estate development and acquisitions projects; and miscellaneous corporate governance and compliance matters.

Llm-Taxation, Federal, State & Local Taxation; Erisa

LLM-Taxation JD, University of Richmond Fordham University School of Law B.A., University of Virginia

J.D., Law

B.A., European History/American Government

Diploma In Science And Math, Sciences And Mathematics