Jack Duval, Managing Partner

Description

Jack has broad and deep experience in investment products and strategies, Modern Portfolio Theory, damage calculations, supervision and compliance, securities rules and regulations, Registered Investment Advisor practice, and insurance.  He is also an expert in statistical analysis, modeling, and the visual analysis of large datasets. Since 2004, Jack has been retained in over 250 arbitration cases, participated in dozens of mediations, and has testified or been deposed 37 times in state or federal court or arbitrations proceedings.

He has consulted and testified for the FINRA Department of Enforcement in a regulatory matter involving over $250 million of Auction Rate Securities transactions and consulted for the Kansas State Securities Commission.  He is also an arbitrator for FINRA.

Employment
  • Accelerant | Managing Partner | 2012 – Present
  • ORIGINAL forensic analysis + visualization LLC (formerly John Duval Associates LLC) | Managing Member | 2004 – 2012
  • Heterodox Capital Partners LLC | Managing Member | 2008
  • Duval Asset Management LLC | Managing Member | 2005 – 2008
  • Merrill Lynch & Co.| Vice President and Senior Financial Consultant | 1994 – 2004
Education
  • New School for Social Research | Master of Arts in Economics | 2006
  • Elon College | Bachelor of Arts in Economics | 1993
  • Elon College | Bachelor of Arts in Philosophy | 1993
Training
  • Finra/Wharton Certified Regulatory Compliance Professional – 2006
  • FINRA Arbitrator
Membership
  • Securities Expert Roundtable
  • Sifma – Compliance and Legal Society

Finra Department of Enforcement | February 2012
Litigation involving a regulatory matter brought by the Finra Department of Enforcement against a Registered Representative working for a broker-dealer cash management desk and the sale of over $220 million in Auction Rate Securities (“ARS”). The case workup involved the analysis of: over 300 ARS Prospectuses; 64 ARS transactions (including detailed comparisons to alternative ARS available) for eight different client accounts; account asset allocations at the time of each transaction; contemporary ARS inventory from primary ARS dealers; trade tickets; commissions; new issues; and agency cross transactions. Additional work included the review of the broker-dealers compliance and supervisory policies and procedures and testimony.

Directed Team:

  • Four MBA Analysts
Estate Litigation | April 2012
Litigation involving the alleged misallocation of part of a $50 million trust over a 55 year time period. Trial preparation included: analysis of trust records, asset allocation, allocation of trustee fees against principal and income; creation of damage model incorporating changing asset allocation, tax, trustee fee laws; written report and deposition.

Directed Team:

  • Tax Attorney
  • Accountant
  • Damage Analyst
Short Against the Box Litigation | August 2011
Litigation involving a $50 million legacy stock position that was hedged using a short against the box transaction in 1997 and the subsequent purchase of leveraged closed-end funds and financial preferred stocks. Trial preparation included: analysis of 74 different accounts over 14 years; graphical analysis of 10 primary account investment flows, documenting sources and uses of funds; analysis of hundreds of new issue prospectuses; and creation of complex “but-for” analyses modeling damages of actual account performance against that of the hedged stock position.

Directed Team:

  • Tax Attorney/Short Against the Box Expert
  • Damage Analyst
  • Product Expert
  • Data Entry Team
Life Insurance Claim Evaluation | July 2011
Evaluation of nine different insurance contracts with $20 million face amount. Nine policies were bought and sold over a 10 year period and included multiple premium finance loans, pledged accounts, and Stranger Originated Life Insurance policies. Evaluation included: review of insurance applications, contracts, and prospectuses; loan documents; investments of sub-accounts; and creation of damage estimates.

Directed Team:

  • Insurance Expert
Auction Rate Securities Concentration Litigation | March 2011
Litigation involved a public company with over $125 million in student loan Auction Rate Securities (“ARS”). Trial preparation included: analysis of client holdings and broker-dealer inventory; review of supervisory and compliance policies and procedures; and report.

Directed Team:

  • Economic Analyst
CDO Litigation | August 2011
Litigation involving a $10 million CDO invested in sub-prime residential mortgage backed securities. Trial preparation included: analysis of underlying loan pool data; visualization of ratings changes of underlying loans; creation of damage estimates; review of broker-dealer supervisory and compliance policies and procedures.

Directed Team:

  • Data Entry Team

When not working on Accelerant, I have a variety of interests, some of which include:

Sports:

  • I am a 4.5 level tennis player and try to play at least twice a week
  • I love football at all levels and pull for Elon and Miami in the college ranks and the Denver Broncos in the NFL
  • The New York Yankees are my favorite baseball team
Reading:
  • I have read deeply in the classics and still enjoy reading philosophy. Most recently, I have gone back to Nietzsche as well as the French post-structuralists, especially Jean Baudrillard
Music:
  • I have played guitar almost my entire life, although I don’t play so much now
  • I enjoy listening to everything from rock and hip hop to dub step
Family:
  • Meghan and I have been married for 16 years and we have three children:
  • Beau, 14
  • Annabelle, 11
  • Katharine, 9



Contact Info

Jack Duval

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