Michael A. Macchiaroli

Background

Michael A. Macchiaroli was born in 1939. He developed his legal career in the United States and entered federal securities regulation after completing university and legal education in Pennsylvania.

Education

Macchiaroli earned a Bachelor of Science degree from St. Joseph's University and a Juris Doctor degree from Villanova University. St. Joseph's University, founded in Philadelphia in 1851 by the Society of Jesus, developed as a Jesuit institution combining liberal-arts education with professional and scientific study. Villanova University, founded in 1842 and rooted in the Augustinian tradition, is a Catholic university whose law school has long provided professional legal education in the Philadelphia region.

While studying at Villanova, Macchiaroli contributed to the Villanova Law Review. The law review, established in 1956, publishes student and faculty scholarship on legal doctrine and developments in American law.

Career

Macchiaroli was admitted to the Pennsylvania bar in 1965. During his legal education, he served on the board of editors of the Villanova Law Review and wrote case notes concerning corporate law, federal courts, and constitutional and tort law.

He joined the U.S. Securities and Exchange Commission in 1970. The SEC, an independent federal agency created in 1934 to administer and enforce the principal federal securities laws, regulates securities markets and works to protect investors and maintain fair, orderly, and efficient markets. Macchiaroli later served in the Commission's Division of Market Regulation and Division of Trading and Markets, becoming associate director of the Office of Broker-Dealer Finances.

His regulatory responsibilities concerned the broker-dealer financial responsibility program, including capital requirements, record keeping, reporting, customer-protection rules, and related issues affecting the financial condition and operations of securities firms. He was also involved in the Commission's consideration of broker-dealer rules, government-securities practices, securities market structure, and financial responsibility matters. His SEC career extended from 1970 into the 2020s.

Achievements

• Macchiaroli pursued a career of more than five decades in federal securities regulation, specializing in the financial-responsibility requirements governing broker-dealers, including capital, record-keeping, reporting, and customer-protection rules.

Works

• conference paper

  • Early intervention in the securities industry

    (A paper presented in the Federal Reserve Bank of Chicago'...)

    1991

• law review note

  • Corporations - Stock Restriction - Agreement among Members of Close Family Corporation to Restrict Sale of Stock Is Not Void Merely because of Divergence between Option Price and Actual Value of Stock

    (A Villanova Law Review note examining whether an agreemen...)

    1964
  • Federal Courts - Change of Venue - Transferee District Court Bound to Apply Law of Transferor State

    (A Villanova Law Review note addressing the choice-of-law ...)

    1964
  • Libel - Public Officials - Recovery for Libel of Public Official Requires Proof of Actual Malice

    (A Villanova Law Review note analyzing the actual-malice r...)

    1964

References

• U.S. Securities and Exchange Commission, Division of Trading and Markets, Office of Broker-Dealer Finances Describes the Office of Broker-Dealer Finances and identifies Michael A. Macchiaroli as an associate director and contact for the office.
  2024
• SIFMA: Michael A. Macchiaroli Provides a professional biography describing Macchiaroli's position at the Securities and Exchange Commission, his responsibility for the broker-dealer financial responsibility program, and his service at the Commission since 1970.
• Villanova Law Review, Volume 9, Issue 2 Documents Macchiaroli's law review note on stock restrictions in close family corporations.
  1964
• Villanova Law Review, Volume 9, Issue 4 Documents Macchiaroli's law review note on federal venue transfers and choice of law.
  1964
• Federal Reserve Bank of Chicago, Early intervention in the securities industry Provides bibliographic information for Macchiaroli's conference paper on early intervention in the securities industry.
  1991