Alaric Director Carl M. Rizzo is an experienced asset management compliance attorney and consultant with 33+ years of experience addressing the regulatory compliance needs of a broad range of SEC-registered and registration-exempt investment advisers managing, across a broad spectrum of classic and alternative investment strategies, client separate accounts, pooled investment and/or structured finance vehicles. At Alaric, Mr. Rizzo has served as interim Chief Compliance Officer for a major institutional fixed-income asset manager with $110 billion AUM. He currently serves as Chief Compliance Officer for an exchange-listed and three private business development companies and their respective investment advisers, and regularly leads SEC “mock audit” and other regulatory compliance consulting engagements for the firm.
Before joining Alaric in 2011, Mr. Rizzo served as Senior Principal Consultant with a leading regulatory compliance consulting firm. There, in a span of three and a half years, Mr. Rizzo led or participated in 80+ SEC compliance program design, installation, and assessment engagements.
During the previous eleven years, Mr. Rizzo served as principal in-house regulatory compliance attorney for the investment management units of several well-known firms in the bank and insurance segments of the U.S. asset management industry. His experience during this period includes USAA, where he supported, as lead counsel, the firm’s registration of its initial variable insurance product offering. At Aid Association for Lutherans (now, Thrivent) he served as Securities Compliance Counsel leading a team dedicated to the compliance oversight of the firm’s variable insurance product business. At Wilmington Trust Company, Mr. Rizzo served for three years as Vice President of Fund Administration of the bank’s asset management subsidiary, Rodney Square Management Corporation, working with fifteen mutual fund complexes as well as the bank’s Rodney Square Funds group. From 2001 to 2005 Mr. Rizzo served as Assistant General Counsel at Bank of America Corporation in Charlotte, NC. There, he provided legal counsel to business line management and compliance personnel regarding all pertinent SEC, ERISA/DOL and CFTC/NFA regulatory requirements concerning the day to day operations of Banc of America Capital Management LLC, a registered institutional investment and commodities trading adviser with AUM in excess of $190 billion.
Mr. Rizzo began his compliance career serving as Senior and Special Counsel on the staff of the SEC's Division of Investment Management. In the latter role, Mr. Rizzo reviewed 200+ referrals from the inspection staff to the enforcement staff. He also participated in confidential in-person presentations to the SEC commissioners seeking staff authorization to bring enforcement actions in over 60 separate cases.
A graduate of Davidson College and the University of Richmond's T.C. Williams School of Law, Mr. Rizzo also holds a Masters of Law degree in federal securities regulation from Georgetown University and is an associate member of the Virginia State Bar.
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