The Securities Compliance Podcast Season 6 Episode 3 – The Impact of Mentorship in Compliance

In Season 6 Episode 3 of The Securities Compliance Podcast: Compliance in Context, host and Calfee Partner Patrick D. Hayes focuses on the impact of mentorship on compliance, and how the mentor/mentee dynamic can help both participants become the best version of their compliance-selves. To help guide the conversation, Patrick was joined byattorney and former regulator (and insightful mentor), Richard Szuch. The Headlinessection reviewed a notable decline in SEC enforcement actions in 2025 and the recently announced rulemaking agenda for the SEC in upcoming months. The episode closes with an installment of Outtakes and a discussion of the continued focus from SEC Enforcement on the Marketing Rule and accurate disclosure of conflicts of interest.

Show

Headlines

• SEC enforcement actions drop sharply, with focus shifting to investor fraud.

• U.S. SEC unveils agenda to revamp crypto policies, ease Wall Street rules

Interview With Richard Szuch

• How has mentorship shaped your career as a legal and securities compliance professional?

• Reviewing the importance of mentoring and mentorship in compliance.

• Understanding the benefits received from mentorship for both the mentee and the mentor.

• What were some of the lessons that you received early on as either a mentee or mentor that inspired you in this area?

• What are three questions every compliance professional should ask themselves?

• How does mentorship impact the overall productivity of a compliance team?

• How to find professional fulfillment in your legal/compliance role?

• For those who are considering taking on a role as mentor or mentee, what additional advice or words of encouragement would you give them?

Outtakes

• SEC Charges RIA with Marketing, Books and Records, and Compliance Rule Violations

Quotes

16:00 - "Like at the prosecutor's office. I remember John O' Reilly saying to me once, 'Richard, you do not need to be smart enough to know the answer to every question, but you do need to be smart enough to know when to ask a question.' And I think the same goes true with navigating with the people you work with." - Richard Szuch

28:06 - "There is the law, there are the facts, and then there's the application of judgement to what those facts mean in the legal construct. Same exact thing in compliance. There are the regs. There is the activity going on, there's maybe not a bright line answer, and that's when having help from older folks or people more experienced than you is really what you're looking for, or at least as experienced as you." - Richard Szuch

About the Securities Compliance Podcast: Compliance in Context

Introducing the Securities Compliance Podcast: Compliance in Context presented by Calfee, Halter & Griswold, and the National Society of Compliance Professionals and hosted by Patrick D. Hayes, Partner and Chair of Calfee's Investment Management practice.

Designed as a personal master class for the securities legal and compliance professional, this podcast embodies Patrick's passion to help you put Compliance In Context™ by combining the technical expertise of industry thought leaders and innovators with the practical experience of doers and key decision makers.

Listeners will find the podcast on Apple Podcast and Spotify.

The opinions expressed by guest speakers and panelists during Securities Compliance Podcasts may not necessarily reflect the viewpoints of the attorneys and professionals of Calfee, Halter & Griswold LLP, or its subsidiaries or affiliates. Calfee's educational content is intended to inform and educate readers about legal developments and is not intended as legal advice for any specific individual or specific situation. Please consult with your attorney regarding any legal questions you may have. With regard to all content including case studies or descriptions, past outcomes do not predict future results.

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