Anthony S. Kelly

Anthony S. Kelly, a former Senior Officer in the SEC’s Division of Enforcement, focuses his practice on securities enforcement, compliance, and regulatory matters, with an emphasis on matters concerning the asset management industry.

Prior to joining Dechert, Mr. Kelly served as Co-Chief of the SEC Enforcement Division’s Asset Management Unit. In this role, he led a nationwide unit of attorneys, industry experts, and other professionals responsible for conducting investigations across the asset management industry that focused on investment advisers and service providers to mutual funds, ETFs, BDCs, private equity funds, hedge funds, and other investment vehicles. Mr. Kelly also worked closely with the SEC’s Division of Examinations and Division of Investment Management.

During his 18-year tenure at the SEC, Mr. Kelly supervised and conducted enforcement investigations covering a wide range of issues, including fund valuation, distribution and 12b-1 fees, conflicts of interest, fund governance, the 15(c) process, best execution, insider trading, manipulation, investment adviser and broker-dealer registration, and whistleblower retaliation. He also worked with multiple U.S. Attorneys’ Offices conducting parallel criminal and SEC investigations. In recognition of his SEC service, Mr. Kelly was awarded the Chairman’s Award for Excellence and the Ellen B. Ross Award, which acknowledge his exemplary commitment and performance in enforcing the federal securities laws.

Mr. Kelly now represents entities and individuals in SEC and FINRA investigations and routinely advises asset managers on how to prepare for, navigate, and respond to exams conducted by the SEC’s Division of Examinations. As part of his practice, he also conducts internal investigations and counsels clients on compliance and regulatory matters.