Kelly Whetstone
Scarborough
Summary
Dynamic and results-driven General Counsel with 20+ years of experience in financial services, specializing in broker-dealer and investment adviser regulations, M&A transactions, corporate governance, and global regulatory oversight. Proven ability to lead legal teams, manage complex regulatory frameworks, and drive strategic business growth. Adept at navigating SEC and FINRA regulations, structuring transactions, and overseeing litigation and compliance matters.
Overview
22
22
years of professional experience
1
1
Certification
Work History
Deputy General Counsel
ACA Group (formerly Foreside Financial Group)
01.2017 - Current
- Lead legal, risk, corporate governance, and due diligence teams, providing strategic counsel on regulatory compliance, M&A, and corporate governance
- Oversee global corporate governance, intellectual property, and insurance, ensuring compliance with international regulatory requirements
- Directed more than a dozen asset and equity acquisitions, including a complex merger between Foreside Financial Group and ACA Group
- Spearheaded the implementation of a contract management system housing 40,000+ client agreements, improving turnaround time by 100%
- Managed multi-year, billion-dollar class action litigation and regulatory examinations with the SEC, FINRA, and FCA
- Established and governed various subsidiaries, including an investment manager and broker-dealer
- Developed and implemented GDPR and privacy compliance programs
- Served as Chief Compliance Officer of subsidiary investment adviser
Senior Director & Corporate Counsel
NRECA / Homestead Funds
01.2007 - 01.2017
- Advised the board and senior leadership on mutual fund, investment adviser, and broker-dealer regulations
- Served as Corporate Secretary for the mutual fund board
- Led SEC and FINRA examinations, ensuring compliance with evolving regulations
- Developed and executed complex regulatory implementations, including money market reform and DOL fiduciary standards
Associate
Bell, Boyd & Lloyd
01.2005 - 01.2007
- Provided legal counsel on investment management matters, servicing mutual funds, ETFs, hedge funds, investment advisers, and broker-dealers
Associate
Seward & Kissel LLP
01.2003 - 01.2005
- Provided legal counsel on investment management matters, servicing mutual funds, ETFs, hedge funds, investment advisers, and broker-dealers
Education
MBA -
Florida State University
01.2010
JD -
University of Virginia
01.2003
BA - Comparative Literature, Minor in Latin
University of Virginia
01.2000
Skills
- Broker-Dealer, Investment Adviser, and Mutual Fund Regulation
- SEC & FINRA Compliance
- Mergers and Acquisitions
- Corporate Governance & Board Advisory
- Global Insurance and IP Oversight
- Contract Negotiation & Risk Management
- Litigation & Regulatory Enforcement
- Strategic Leadership & Team Management
Affiliations And Leadership
- Director & Secretary, Association of Corporate Counsel, Northeast Chapter
- Vice President & Trustee, Eastern Trail Alliance
- Frequent speaker on regulatory compliance and financial services law
Certification
- Member of the New York, Washington, DC, and Maine bars
- FINRA Series 6, 7, 26, 63, and 66 Licenses
Core Skills And Expertise
- Broker-Dealer, Investment Adviser, and Mutual Fund Regulation
- SEC & FINRA Compliance
- Mergers and Acquisitions
- Corporate Governance & Board Advisory
- Global Insurance Oversight
- Contract Negotiation & Risk Management
- Litigation & Regulatory Enforcement
- IP Management
- Strategic Leadership & Team Management
Timeline
Deputy General Counsel
ACA Group (formerly Foreside Financial Group)
01.2017 - Current
Senior Director & Corporate Counsel
NRECA / Homestead Funds
01.2007 - 01.2017
Associate
Bell, Boyd & Lloyd
01.2005 - 01.2007
Associate
Seward & Kissel LLP
01.2003 - 01.2005
MBA -
Florida State University
JD -
University of Virginia
BA - Comparative Literature, Minor in Latin
University of Virginia
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