Ernie Badway
Ernest Badway is a partner at Thompson Hine LLP in their business litigation and investment management groups. He advises clients on a broad range of business matters, including securities, commodities, private equity and hedge fund, corporate governance, partnership and shareholder disputes, and minority shareholder oppression litigation. He also counsels clients on the creation of cryptocurrency exchanges, alternative trading systems, broker-dealers, investment advisers, commodity trading advisers, futures commission merchants, introducing brokers, hedge and private equity funds, and commodity pool operators as well as compliance and regulatory matters relating to their operations. Ernest also assists clients in using ICOs and SAFTs to fundraise, as well as those clients who invest in digital currency and operate digital currency funds. As part of his practice, he also assists financial services firms to obtain BitLicenses, comply with OCIE examinations targeting digital currency investment, and ensure compliance with FinCEN, FINRA and Bank Secrecy Act regulations, including, among other things, Know Your Customer (KYC). Anti-Money Laundering (AML) and data privacy requirements. Similarly, Ernest aids financial services firms with cybersecurity demands, and advises on various regulatory compliance matters, including the comprehensive New York Department of Financial Services Cybersecurity Requirements for Financial Services Companies, and mandates regarding risk assessment, personnel, policy, breach notification and third-party service providers, as well as SEC, CFTC, and FINRA requirements relating to cybersecurity requirements. Ernest also has extensive experience in representing individual and corporate clients in internal investigations, and these clients include corporations, limited liability companies, partnerships, broker-dealers, investment advisers, commodity trading advisers, futures commission merchants, introducing brokers, private equity and hedge funds, commodity pool operators, banks, insurance companies.
Ernest is a frequent speaker and author on topics affecting corporations, executives, and their employees. Ernest has moderated and participated in many forums, most notably with the American Bar Association, American Arbitration Association, New York County Lawyers’ Association, American Conference Institute, New York State Association of Criminal Defense Lawyers, New Jersey Trial Lawyers’ Association, and Association of Corporate Counsel of America, among others.
He is also the author of Encyclopedia of New York Causes of Action: Elements and Defenses (New York Law Journal Books, May 2024, 16th ed.), “Chapter 109: The Attorney-Client Privilege and the Work Product Doctrine, Securities Law Techniques (December 2024) and contributing author for Chapters 1 and 2 of Securities Law Series: Securities Crimes, Vol. 21 (Thomson Reuters/West, September 2023); and “Chapter 42G: Private Placement Sales, Broker-Dealer Regulation (Practising Law Institute, May 2022). He also authored the Proxy Regulation chapter in the Lexis-Nexis Federal Securities Exchange Act of 1934 Treatise (2024); Chapter 5B: Attorney Liability Under the 1934 Act,” Federal Securities Exchange Act of 1934 (LexisNexis Matthew Bender, publishers) (August 2023); and “Chapter 2: Applicability of the Act: “Security” and “Sale”,” Federal Securities Act of 1933 (LexisNexis Matthew Bender, publishers) (November 2023).
Ernest has also published articles in the Rutgers Law Review, New York Law School Journal of Taxation and Regulation of Financial Institutions, Brooklyn Journal of Corporate, Financial & Commercial Law, New York Law Journal, New Jersey Law Journal, the ABA’s WCC Bulletin and industry publications such as The Registered Rep. Magazine and The Hedge Fund Law Report. Numerous media outlets have turned to Ernest for his analysis of securities enforcement and corporate governance issues. He has served as a commentator for CNBC, Bloomberg Television News, Bloomberg Radio, KFXN All-News Radio, the Los Angeles CBS Radio affiliate, and the public television show, Lawline. He has also been quoted in The New York Times, Wall Street Journal, the Los Angeles Times, Newsday, New York Post, The Star Ledger, The Record, The Birmingham Daily Record, USA Today, New York Law Journal, CBSMarketwatch.com, Bloomberg.com, Fortune and Foxnews.com, among others.
Prior to joining his current firm, Ernest was an SEC enforcement attorney and a partner in a national firm where he served as a co-chair of the Securities Industry, White Collar, and Private Equity and Investment Management Groups. Ernest is also an adjunct Professor of Law at both Brooklyn Law School and New York Law School where he teaches courses in securities fraud enforcement, securities regulation, and commercial law. He has been appointed an arbitrator and mediator for the AAA; The Financial Industry Regulatory Authority, Inc. (formerly, the NASD and NYSE); the NFA; and an arbitrator and mediator for the New Jersey State Courts. Ernest previously served as treasurer for the New York County Lawyers’ Association. He is Martindale-Hubbell “AV Preeminent” rated, named to the list of "Super Lawyers" for Securities Litigation in New York (2010-2024), and selected to a list of “New Leaders of the Bar” (Formerly 40 Under 40) by the New Jersey Law Journal (2004).
5d. BD – Current State of Trading and Trade Reporting (Intermediate - OPEN)