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Overview

Dr. Simon Wu is a member of BRG's Capital Markets practice. He serves as a financial economic expert in many aspects of securities, mortgage, and banking industry issues, including securities and derivatives trading and valuation, market structure enforcement and litigation, market manipulation, insider trading and front running, exchanged-traded funds (ETFs), best execution, investment management and performance evaluation, mortgage finance, and financial institution risk management. He gained his expertise from a unique career that has included work in a federal government agency, in financial economic consulting firms, in a Wall Street firm, and in a financial industry self-regulator. Among his notable expert engagements, he was the first-ever designated expert in a regulatory investigation involving high-frequency trading (HFT) manipulative trading strategies in the United States.

Dr. Wu has been a testifying expert for the past 14 years, and has been retained as an expert in litigation and enforcement matters brought by the Securities and Exchange Commission (SEC), the Department of Justice (DOJ), the Commodity Futures Trading Commission (CFTC), the Financial Industry Regulatory Authority (FINRA), the New York Stock Exchange (NYSE) Regulation, the United Kingdom Serious Fraud Office (SFO), the United Kingdom Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the China Securities Regulatory Commission (CSRC), as well as private entities such as broker-dealers, hedge funds, pension funds, trustees, public and private shareholders, publicly traded companies and corporate executives. Dr. Wu has been qualified as an expert and testified before SEC administrative law judges, in federal and state courts, and before FINRA arbitration panels.

In his previous role as the chief economist for FHFA (OIG), an agency overseeing Fannie Mae, Freddie Mac (collectively, “Enterprises”), and twelve Federal Home Loan Banks, Dr. Wu participated in regulatory oversight of financial issues such as capital market risk management, pricing of single-family and multifamily guarantee fees, mortgage-backed securities (MBS) and structured products, trading in a forward market, the impact of the Federal Reserve’s bond purchasing programs on pricing and yields of Treasury securities and agency MBS, Enterprises’ management of securities and derivatives, unsecured lending by banks, LIBOR interest rate manipulation, mortgage delinquency and default rates, and valuation of mortgage servicing rights. He won the 2012 and 2014 Inspector General Awards for reports on risk management.

Dr. Wu started his career as a senior economist at FINRA (then “NASD”) and subsequently the NASDAQ Stock Market, where he led a major study on the decimalization on NASDAQ and authored the final report that was submitted to the SEC. While there, he led many economic studies on financial market structure issues, such as best execution, and in support of securities rule proposals and implementation. In addition, Dr. Wu worked extensively in the securities regulatory, enforcement and compliance areas on behalf of the FINRA Market Regulation, Surveillance, and Enforcement unit as well as the SEC.

Education

Vanderbilt University
Ph.D., Economics, 1998
M.A., Economics, 1997

Belmont University
BBA, Economics, 1993

Employment History

NERA Economic Consulting
Vice president
2015 - 2016

Federal Housing Finance Agency
Chief economist
2011 - 2015

FTI Consulting
Managing director
2002 - 2011

The NASDAQ Stock Market
Senior economist
2000 - 2002

FINRA
Senior economist
1998 - 2000

Affiliations

Credentials

Industry "Non-Public" Arbitrator

FINRA Dispute Resolution