LISA ROTH MONAHAN & ROTH, LLC 630 FIRST AVENUE SAN DIEGO, CA 92101 BACKGROUND Lisa Roth is the of Monahan & Roth, LLC, a regulatory compliance company providing services including professional consultations, audit/independent testing, due diligence, training, and other compliance services. Ms. Roth also provides expert witness and other litigation support services. In business since 1999, Monahan & Roth s clients include industry leading financial services firms and law firms. Lisa Roth is also the, AML CO and CISO of Tessera Capital Partners, LLC a limited purpose broker- dealer headquartered in New York, having acquired an ownership stake in April 2016. Ms. Roth performs duties including anti- money laundering compliance, strategic planning and related services from her San Diego branch of the company. From 2003-2007, Ms. Roth was also the founder and CEO of ComplianceMAX Financial Corporation, a regulatory consulting and compliance technology company. ComplianceMAX s clients included more than 1000 registered investment advisors, and more than 200 broker- dealers, ranging in size from 1-10,000 associated persons. Until its acquisition by private investors on November 1, 2012, Lisa Roth was the Chief Executive Officer, Chief Compliance Officer and majority owner of Keystone Capital Corporation, a FINRA member firm with its headquarters in San Diego, CA. In her capacity as CEO, Ms. Roth directed the strategic initiatives of the company and managed its mission critical departments, including compliance and operations. Keystone s primary business involved retail sales of general securities, including stock, bonds and mutual funds, and institutional placement agent services. In her role as CCO, Ms. Roth implemented Keystone s policies and procedures through the company s established supervisory chain of command. In 2012 and 2013, Ms. Roth served a two- year term on the PCAOB s Standing Advisory Group. Ms. Roth served on FINRA s Small Firm Advisory Board from 2008-2011, including a term as its Chairman. In addition to this, Ms. Roth has been active in industry associations including the FINRA Dispute Resolution Task Force, the Third Party Marketers Association and the National Association of Independent Broker Dealers (as chair of the Member Advocacy Committee). In these capacities, Ms. Roth has advocated for smarter and more relevant rules and regulations for small and independent firms. Ms. Roth is an active participant in industry forums, where she is a frequent speaker or panelist on topics including supervision, due diligence, cyber security, regulatory compliance, regulatory and legislative trends, sale practices, rulemaking and related topics.
EXPERIENCE SUMMARY 2016- Present 1999- Present 2001 2016 TESSERA CAPITAL PARTNERS, LLC Ms. Roth acquired an ownership stake in Tessera Capital Partners, LLC, and serves as its, AML Compliance Officer and Chief Information Security Officer. Tessera is a limited purpose broker dealer offering new business development, financial intermediary relations, client services and marketing support to investment managers and financial services firms. MONAHAN & ROTH, LLC Ms. Roth is the of Monahan & Roth, LLC, a firm offering expert witness and litigation support and compliance consulting services to law firms, brokerage firms, advisory and other investment services firms. Ms. Roth has testified in numerous arbitrations and litigations on topics including due diligence; internal controls; supervision; fiduciary duty; selling away; industry best sales; compliance and operations practices; effective policies and procedures; hiring/firing; retention/termination; information security; privacy and other related topics. Monahan & Roth provides compliance consulting services to financial services firms in all areas of regulatory compliance. KEYSTONE CAPITAL CORPORATION, SAN DIEGO, CA Registered Principal Formerly Chief Executive Officer/Chief Compliance Officer Prior to its acquisition by private investors in 2012, Ms. Roth s role in Keystone Capital Corporation, a small independent full services broker- dealer, included oversight of the management team and leadership of the company s operational staff. Following the acquisition, Ms. Roth remained affiliated with Keystone until 4/2016 as its Municipal Securities Principal. Ms. Roth served as the company s chief executive. Ms. Roth led the company s strategic direction, including the establishment, implementation and ongoing support of its culture of compliance, which exists in the present day. Keystone Capital Corporation is a FINRA member and registered investment adviser conducting a general securities business from its headquarters in San Diego, CA. 2003-2008 NATIONAL REGULATORY SERVICES/COMPLIANCEMAX FINANCIAL CORPORATION, SAN DIEGO, CA, Chief Executive Officer Ms. Roth founded ComplianceMAX Financial (acquired by National Regulatory Services in 2007) to provide consulting services and technologies designed to meet the enterprise compliance and regulatory demands of investment services businesses, specializing in non- traditional firms as well as small independent firms. As its founder and chief executive, Ms. Roth was responsible for every aspect of implementation of the company s strategic vision, ranging from the
delivery of compliance services, sales and marketing to operations, finance and administration. In this capacity, Ms. Roth earned the business of more than 1200 client firms ranging in size from 1 to 10,000 employees. Ms. Roth s energetic and creative approach to management resulted in the company s many successes and innovations, including the industry s first fully- automated subscription- based compliance program for small firms, a 360 degree workflow management system for field inspection programs and other business systems and compliance management tools. 1998-1999 1995-1998 ROYAL ALLIANCE ASSOCIATES, NEW YORK, NY Vice, Regional Manager In this management position, Ms. Roth was charged with oversight and management of western region branches representing approximately $130 million of annual revenue, and including more than 1,020 registered representatives. Management of business and sales operations, including hands- on program development, such as implementation of RIA/CPA strategic alliance relationships, due diligence and training fell within Ms. Roth s responsibilities. She was also responsible for the enforcement of BD and RIA supervisory regulations, books and records requirements through the drafting and implementation of new procedures to monitor and track compliance and the sales performance of the registered associates. Ms. Roth performed frequent visits of the branch premises, continuous supervision of transactions, regional training, and consultative services including practice management, regulatory and legislative updates. CORPORATE SECURITIES GROUP, LA JOLLA, CA Executive Vice In her role with Corporate Securities Group, Ms. Roth was responsible for development and implementation of investment advisory services, investment advisory policies and procedures, and marketing of the firm s services to prospective brokers. Ms. Roth was the creator and marketer of the firm s investment advisory programs, including a wrap fee program, a mutual fund asset allocation program, and strategic alliances with separate account investment managers, accountants, and others. Over $98 million was raised in the initial 12 months rollout of new advisory programs, under Ms. Roth s oversight. Ms. Roth was additionally charged with duties related to the federal and state registration of the parent company s two registered investment advisors, including drafting and implementing procedures manuals and supervision of the firms advisory agents, branch audits, exam forms, and investment manager due diligence. 1990-1995 FIRST ALLIED SECURITIES (FORMERLY FIRST AFFILIATED SECURITIES ) SAN DIEGO, CA Through varied positions culminating with president, Ms. Roth was largely responsible for managing this firm through a period of high volatility and change
resulting from management and ownership changes. Ms. Roth s duties and responsibilities included bottom line financial management, management and oversight of the firm s brokers and branches, implementation of sales and marketing strategies, hiring, firing, operational team building, and more. In her capacity at First Allied, Ms. Roth leveraged the implementation of turn- around programs to initiate strong working relationships with regulators and to develop other long- lasting industry networking relationships. NOTE: EDUCATION LICENSES AND REGISTRATION SPECIALIZED EXPERIENCE Additional information regarding Ms. Roth s industry affiliations including a complete list of brokerage and advisory licensing and registration can be found at finra.org/brokercheck. Moravian College, Bethlehem, PA; cum laude, BA History Alumni Fellows Freshman Scholarship History Prize For Outstanding Senior History Major Series 4, 7, 8 (inactive), 14 (inactive), 15-1 (inactive), 15-2(inactive), 24, 53, 63, 65, 99; Keystone is member of FINRA Keystone is registered with the SEC and the MSRB FINRA Dispute Resolution Task Force, 2014-2015 PCAOB Standing Advisory Group, 2011 2013 FINRA Small Firm Advisory Board, Appointed Spring 2008 for a 3- year term FINRA Small Firm Advisory Board, Chairman, 2010 Thomson Reuters Accelus Editorial Board, 2006 present FINRA Compliance Official Examination Item Writing and Review Committee, May 2009 present FINRA Arbitrator: Member FINRA Board of Arbitrators, 1992 - present NAIBD, Chair of Member Advocacy Committee: 2005-2009 National Association of Independent Broker Dealers (NAIBD): Chairman of the Board 2007 to 2009; 2003-06; Secretary 1997, 2000-01 Third Party Marketers Association (3PM) Board of Directors 2009-2011 FINRA Member Application Process (MAP) Task Force 2011 FINRA Small Firms and Rules Impact Task Force, 2007-08 FINRA Books and Records Committee, 2007-08 PERSONAL Moravian College Board of Trustees, 2006-2013 Moravian College Vice Chairman of Board of Trustees 2011-2013 Responsibility, Inc. and Los Buen Deportes: Education and physical fitness for the young children of Tijuana dumps, Board of Directors, Past- Chair, 2005 2012 San Diego Crew Classic - Board of Directors, 2014 San Diego Rowing Club Board of Directors, 2012-2016