Karl E. May

Representative Experience

• Successfully defended various clients in SEC, FINRA, and Ohio Division of Securities investigations and administrative proceedings.
• Multiple representation of securities broker/dealers and registered representatives in FINRA arbitrations.

Education & Admissions

Education

• The Ohio State University, J.D., summa cum laude
  • Order of the Coif
  • Board or Editors, The Ohio State Law Journal
• Ohio Northern University, B.A., with high distinction

Bar and Court Admissions

• State of Ohio
• U.S. Court of Appeals, Sixth Circuit
• U.S. District Court, Northern District of Ohio
• U.S. District Court, Southern District of Ohio

Involvement

Professional Affiliations

• Ohio State Bar Association, Member
• Cleveland Metropolitan Bar Association, Member
  • Securities Law Section & Securities Law Institute, Past Chair
• Federalist Society Member

Community Involvement

• Lyman Boat Owners Association, Trustee
  • Rear Commodore (2018 – 2022)
• Zeta Chapter of Sigma Pi Fraternity Alumni Association, Trustee & Executive Secretary
• Antique & Classic Boat Society, Member
• Member of Cuyahoga County Republican Party Central and Executive Committees and Precinct Captain, Ward D Shaker Heights
• Past president, Cleveland Chapter of the English-Speaking Union
• Past Senior Warden Christ Episcopal Church, Shaker Heights

Awards & Honors

• Recognized by The Best Lawyers in America® as “Lawyer of the Year” in Cleveland in Securities Regulation (2019, 2024)
• Named to The Best Lawyers in America® in the areas of Litigation-Securities and Securities Regulation (2017 – Present)
• Listed as AV Preeminent Peer Review Rated by Martindale-Hubbell

Publications

• “Supreme Court Upholds Constitutional Right to Jury Trial where SEC Administrative Proceedings Seek to Impose Monetary Penalties,” Frantz Ward Client Alert (June 2024)
• “A New Robinhood Challenges the Establishment but this Time the Establishment Wins,” Frantz Ward Litigation Blog Post (September 2023)
• “New Law Exempts M&A Firms From Sec Broker/Dealer Registration,” Frantz Ward Client Alert (February 2023)
• “Securities And Exchange Commission Brings Its First Enforcement Action Under Regulation Best Interest,” Frantz Ward Client Alert (August 2022)
• “Use Caution When Paying Finder’s Fees in Securities Transactions,” Frantz Ward Client Alert (August 2022)
• “The Non-Existent “Friends and Family” Exemption Under Federal and State Securities Law,” Frantz Ward Client Alert (March 2022)
• “New SEC Marketing Rule Will Have A Material Effect On The Investment Management Industry,” Frantz Ward Client Alert (December 2021)
• “Public-Private Sector Collaboration as a Means to Economic Development: A Blueprint from the Shaker Heights Development Fund” Podcast Guest, Shoveling Smoke – A Frantz Ward Lawcast (November 2021)
• “National Defense Authorization Act Requires Certain Small Businesses to Report Personal Information to a Branch of the U.S. Treasury Department,” Frantz Ward Client Alert (March 2021)
• “SEC Amends Rules to Simplify Exempt Offerings and Increase Dollar Limits,” Frantz Ward Client Alert (November 2020)

• “SEC Adopts Changes to Accredited Investor Definition,” Frantz Ward Client Alert (September 2020)
• “Supreme Court Allows, but Limits Disgorgement as a Remedy in SEC Enforecement Actions,” Frantz Ward Client Alert (August 2020)
• “SEC Regulation Best Interest is Now in Effect,” Frantz Ward Client Alert (July 2020)
• “SEC Proposes Rule to Amend Accredited Investor Definition,” Frantz Ward Client Alert (March 2020)
• “Adviser: When Using Alternative Financing Outlets, Beware Possible Securities Issues,” Crain’s Cleveland Business (September 26, 2011)

Presentations & Lectures

• “Securities Laws Issues in Structuring Real Estate Investment Programs,” 44^th Annual Estate Institute of the Cleveland Metropolitan Bar Association, Cleveland, OH (November 2022)
• “Structuring a Real Estate Investment Deal,” 36th Annual CMBA Real Estate Law Institute, Cleveland, OH (November 2014)