Skip to Main Content

With more than 14 years of financial industry experience, involving securities litigation and regulation, Ms. Mason provides expert testimony and analysis as well as consulting services concerning securities trading and markets, customary practice, regulatory compliance, and risk management.

Given her deep knowledge of Financial Industry Regulatory Authority (FINRA) and Securities & Exchange Commission (SEC) rules, Ms. Mason has several areas of expertise including suitability, equity and options market manipulation, senior investors, financial advisor and domestic broker-dealer supervision, written supervisory policies and procedures, regulatory disclosures, Direct Market Access (SEC 15c3-5), Anti-Money Laundering (FINRA 3310), and books and records requirements. Ms. Mason also provides consulting support across the entire lifecycle of securities investigations and litigation matters, including initial case evaluation, discovery, risk assessments, expert reports and testimony, and damages analysis.

Ms. Mason’s professional experience includes, among other things, presenting multifaceted securities cases before arbitration panels and regulatory bodies, determinations of compliance and causation, rule interpretation, trading analysis, and risk assessment. 

Prior to joining Brattle, Ms. Mason served as senior enforcement counsel at FINRA, where she was responsible for ensuring that its members complied with FINRA and SEC regulatory requirements. Ms. Mason was also a certified FINRA dispute resolution arbitrator for over 10 years. She spent several years as senior in-house legal counsel for a large broker-dealer, where she handled complex legal and compliance matters, including matters that involved auction rate securities, market manipulation, margin requirements, supervisory systems, and suitability obligations.

Ms. Mason holds a J.D. from Creighton University School of Law.  

Publications
Presentation
Regulation Best Interest Basics
July 2020
Article
Report
Summary of Responses to the ISDA 2020 Consultation on How to Implement PreCessation Fallbacks in Derivatives
May 14, 2020
Prepared for International Swaps and Derivatives Association (ISDA)

In this report, Brattle summarized the responses to ISDA’s February 24, 2020 consultation, 2020 Consultation on How to Implement Pre-Cessation Fallbacks in Derivatives. Brattle’s report documented that a majority of respondents supported including pre-cessation and permanent cessation fallbacks without optionality or flexibility in the amended 2006 ISDA definitions for LIBOR. In explaining their responses, several market participant respondents, including from both those who answered “Yes” and those who answered “No”, cited the need for consistency across asset classes and between cleared and non-cleared derivative markets.

Report
Anonymized Summary of Responses to the ISDA Supplemental Consultation on Fallbacks in Derivatives Referencing EUR LIBOR and EURIBOR and Other Less Widely Used IBORs
March 5, 2020
Prepared for International Swaps and Derivatives Association (ISDA)

In this report, Brattle summarized the responses to ISDA’s December 18, 2019 consultation, Supplemental Consultation on Spread and Term Adjustments, including Final Parameters thereof, for Fallbacks in Derivatives Referencing EUR LIBOR and EURIBOR, as well as other less widely used IBORs. Brattle’s report documented that the majority of market participant respondents would be able to transact using definitions for EUR LIBOR and EURIBOR (as well as other less widely used IBOR benchmarks) that incorporate fallback rates based on the same methodologies as in other benchmarks.

Report
Summary of Responses to the ISDA Consultation on Final Parameters for the Spread and Term Adjustments
November 15, 2019
Prepared for International Swaps and Derivatives Association (ISDA)

In this report, Brattle summarized the responses to ISDA’s September 18, 2019 consultation, Consultation on Final Parameters for the Spread and Term Adjustments in Derivatives. The report documented that a majority of respondents preferred a historical median approach over a five-year lookback period, to not include a transitional period, and to not exclude outliers or negative spreads in the spread adjustment calculation.

News & Events
July 29, 2020
ISDA Publishes Brattle-Prepared Report on Bloomberg/ISDA IBOR Fallback Rate Adjustments Rule Book

In a July 2020 report, “Report on Bloomberg/ISDA IBOR Fallback Rate Adjustments Rule Book,” a team of Brattle consultants assessed whether Bloomberg’s implementation of the calculations and the definitions of the different terms and concepts discussed in the Rule Book are consistent with the information provided in a series of ISDA consultations and the preferences of market participants summarized by Brattle for ISDA in a series of reports.

July 27, 2020
ISDA Publishes Brattle-Prepared Summary Reports on IBOR Benchmark Fallback Rates

On May 14, 2020 the International Swaps and Derivatives Association (ISDA) published the sixth in a series of reports independently prepared for ISDA by Brattle consultants. Each of these six reports followed an associated consultation starting with the first ISDA consultation on July 12, 2018.

May 21, 2020
How Might COVID-19 Affect the Financial Markets? Brattle Experts Share Insights

Brattle Principal Joseph Belanger, Associate Ryan Leary, and Senior Consultant Hollie Mason have authored an article for Wolter Kluwer’s Securities Regulation Daily and Banking and Finance Daily on the effect of COVID-19 on the financial markets.

October 24, 2019
ISDA Publishes Brattle-Prepared Summary Report on IBOR Benchmark Fallbacks

To prepare for a permanent discontinuation of certain key interbank offered rates (IBORs), the International Swaps and Derivatives Association (ISDA) is in the process of amending its standard documentation to implement fallback rates for derivatives.

May 29, 2019
Securities Expert and Former FINRA Senior Enforcement Counsel Hollie Mason Joins The Brattle Group's Washington, DC Office

The Brattle Group is pleased to announce that Hollie Mason has joined its finance and securities practice as a senior consultant.