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  2007 Annual Dinner

2007 Annual Dinner Honors David Ruder

ASECA's Fifteenth Annual William O. Douglas Awards Dinner was held on Friday, February 9, 2007 at the Ronald Reagan Building and International Trade Center in Washington, D.C., in conjunction with PLI’s "SEC Speaks." The recipient of the William O. Douglas award was former SEC Chairman David S. Ruder.  The dinner sold out for the first time, with a record crowd of more than 600 SEC alumni, practitioners, industry officials, and SEC officials and staff.

Robert C. Friese, President of ASECA opened the program with a summary of the organization’s recent achievements, noting membership expansion and the increased activities of regional ASECA chapters in Chicago, Los Angeles, Miami, and New York.

Following the presentation of awards for scholarships and the writing competition, and a delicious dinner, the audience was treated to an entertaining and provocative speech by noted author and SEC alumnus Richard North Patterson.  The author of fourteen novels, including ten international bestsellers, spoke about his writing career and his trip to Israel and the Gaza Strip, the setting of his most recent novel. 

The highlight of the evening was the presentation of the William O. Douglas Award, which is given each year to an SEC alumnus who has contributed to the development of the federal securities laws or has served the financial and SEC community with distinction.  The 2007 award winner was David S. Ruder, former SEC Chairman and Professor of Law Emeritus at Northwestern University School of Law.  Professor Ruder served as SEC Chairman from August 1987 to October 1989.  As chairman, he dealt with the October 1987 stock market crash, supervised the SEC enforcement action against Drexel Burnham Lambert, initiated a penny stock fraud program, and enlarged SEC initiatives in international securities regulation.  Professor Ruder was introduced by his friend and former student, ASECA President Bob Friese.  Click here for a copy of Ruder's speech. 

The Annual Dinner also includes the presentation of ASECA scholarships and awards.  This year, $28,000 in scholarships and $10,000 in writing competition prizes were awarded to law students and SEC support staff. 

Kathleen Gallagher presented the Georgetown University Law Center scholarship in the amount of $5,000 to Edwin S. Kim of Alexandria, VA, a candidate for an LL.M. degree in the Securities and Financial Regulation program.  Mr. Kim is an SEC employee in the headquarters office, where he serves as an attorney-advisor in the Office of Administrative Law Judges. 

Roberta Karmel announced the Brooklyn Law School scholarships totaling $5,000 which were awarded to Christopher Ferrara, New York, NY; Jennifer A. Rutledge, Bloomfield, NJ; and Erin Tobin, Staten Island, NY. 

Steve Cutler and Marti Cochran presented SEC staff scholarships of $3,000 each to the following:  Sheila McCoy, Office of Investor Education and Assistance; Denise R. Moody, Office of Public Affairs; Karline (Kay) Reid, Division of Corporation Finance; and Holly R. Smith, Division of Investment Management.  Scholarships were also awarded to Yolanda Brown and Sheila Meaders of the Chicago Regional Office.

Frank Razzano presented awards for the ASECA Writing Competition for law student articles in the field of securities law.  The following were all present to accept the awards:
• First Prize of $5,000 to Mary M. Caskey, Editor in Chief, Valparaiso University Law Review, for Lifting the Fog: Finding a Clear Standard of Liability for Secondary Actors under Rule 10b-5.
• Second Prize of $3,000 to Christopher T. Pickens, George Mason University School of Law, for Of Bookies and Brokers: Are Sports Futures Gambling or Investing, and Does It Even Matter?.
• Third Prize of $2,000 to Stanislav Dolgopolov, University of Michigan Law School, for Insider Trading, Chinese Walls, and Brokerage Commissions: The Origins of Modern Regulation of Information Flows in Securities Markets.

The dinner ended with ASECA President Bob Friese literally turning over the gavel to new President Marti Cochran.