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Dominick Sartorio, the Director of New Business for Legacy Management Consulting Group, LLC, has seen extraordinary success in the past two decades.
Legacy Management and Consulting Group, LLC recognizes the accomplishments of Director Dominick Sartorio. An accomplished VP/Sales and CEO executive who has brought numerous companies to record profitability, Dominick Sartorio also contributes to several charitable organizations. Over the past few years, Dominick Sartorio has served on the Board of Directors of two New York charities, and he also donates his time to a Catholic nonprofit organization.
In 2008, Dominick Sartorio was chosen to join the Board of Directors of a charitable organization that donates to the Children’s Miracle Network and Schneider’s Children’s Hospital in New York. Through a fundraiser at the Crest Hallow Country Club, Dominick Sartorio and the other members of the board raised over $130,000 for the hospital, funds that allowed for the purchase of mobile medical monitoring equipment for children with cancer.
Professionally, Dominick Sartorio began his career at The Asset Backed Security Group, where he managed sales of financial data, and conducted market analyses. Through his efforts, Dominick Sartorio generated 35 percent of the company’s total new business, and he functioned as the top-producing sales manager at the firm during every year of his tenure.
Dominick Sartorio went on to similar achievements at Telekurs, NA, helping this Swiss financial enterprise software company to revitalize sales and securing the distinction of top sales producer in the entire company for three consecutive years. In this role, Dominick Sartorio closed global contracts with Republic National Bank, Citibank, the Bank of New York, Solomon Brothers, J.P. Morgan, and Morgan Stanley.
Subsequently, Dominick Sartorio joined Betelgeuse Entertainment as the Vice President of Mergers and Acquisitions, where he led expansion and acquisition efforts before co-founding his own company in 2000. Dominick Sartorio served as the VP of Sales and Chief Executive Officer for his firm, The Marquee Group, LLC, for six years, conducting revitalization and restructuring for acquired companies in the chemical, pharmaceutical, and bio-medical sectors.
Currently serving as Director of New Business at Legacy Management Consulting Group, Dominick Sartorio brings his extensive experience in business strategy and acquisitions to bear on the global operations of client companies. Dominick Sartorio has spearheaded international sales and product development initiatives for companies ranging in size from $10 million to over $500 million in annual sales. He has also been a keynote speaker and has addressed companies globally.
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Charitable Involvement, Dominick Sartorio
November, 2010
Over the course of his professional career, Dominick Sartorio has made extensive contributions to a variety of charitable organizations. To learn more about some of the charities that have benefited from Dominick Sartorio’s generosity, read below. Catholic Charities USA http://www.catholiccharitiesusa.org/ NetCommunity Established 100 years ago, Catholic Charities USA is committed to changing the world by helping reduce poverty and supporting families at the community level. Catholic Charities USA provides a number of resources and programs, including financial benefits, advocating against human trafficking, family strengthening programs, and racial equality initiatives. Most well known for its comprehensive Poverty Campaign, Catholic Charities USA is dedicated to improving access to healthy foods, increasing health care benefits for underserved children, and making educational and career training resources more widely available. Children’s Miracle Network http://www.childrensmiraclenetwork.org For over 27 years, the nonprofit organization Children’s Miracle Network has been raising funds for children’s hospitals and foundations through a variety of programs. Working with a number of hospitals and corporate partners, Children’s Miracle Network is well known for the colorful “Miracle Balloons” that sell for a few dollars in grocery stores. Children’s Miracle Network also offers opportunities to fundraise through events such as Miracle Jeans Day, IHOP National Pancake Day, and various dance marathons, radio-thons, and telethons. Steven and Alexandra Cohen Children’s Medical Center of New York http://www.northshorelij.com/ccmcny/home Formerly known as Schneider Children’s Hospital, the Steven and Alexandra Cohen Children’s Medical Center of New York (CCMCNY) provides state-of-the-art care for children and adolescents with a bevy of medical and dental needs. Designed exclusively for children, CCMCNY endeavors to make each child’s stay as comfortable as possible. Featuring 154 beds, 160 full-time physicians, and 400 nurses, CCMCNY ranked as one of the best children’s hospitals in the U.S. for three consecutive years.
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SEC News Update
February, 2011
Possessing two decades of experience in a number of senior-level executive positions, Dominick Sartorio has lent his expertise to such firms as Allstar Holdings, LLC and The Marquee Group, LLC. In his present role as the Director of New Business for Legacy Management Consulting Group, LLC, Dominick Sartorio often contributes to press releases about recent initiatives in the U.S. Department of the Treasury, the United States Securities and Exchange Commission (SEC), and other governmental and financial agencies.
Below are some new developments in the SEC. The SEC recently proposed a new rule requiring hedge fund managers to report information in confidence to the Financial Stability Oversight Council, a new agency created under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Once reviewed, the submitted data will play a key role in evaluating the risk of the United States’ financial markets. The proposed rule would mandate that SEC-registered private fund advisers report at least once a year. The SEC defines large advisers as those that manage upwards of $1 billion in private equity, unregistered money market, or hedge fund assets. These advisers would file reports four times a year, while smaller advisers would file data annually. The type of information could include trading mechanisms, credit providers, and fund strategy and performance for both classes of advisers, with large advisers required to produce additional details.
The SEC expects the majority of the U.S.-based advisers affected by the proposed ruling to fall into the small adviser category. Currently in its 60-day public comment period, the proposal will receive further attention toward the end of March 2011. In other news, the SEC promoted Cathy H. Ahn to Deputy Secretary in the Office of the Secretary. Formerly a senior special counsel in the Legal Policy Group of the SEC’s Office of General Counsel, Ahn joined the federal agency in 2004. From 2005 to 2007, Ahn acted as counsel to former SEC Commissioner Roel Campos. Ahn’s new responsibilities encompass recording SEC meetings and advising members of the Commission and staff. Holding a Juris Doctor from Harvard Law School, Ahn served as an investment management attorney at the firm Wilmer Cutler Pickering Hale and Dorr LLP before joining the SEC. Read more at www.sec.gov
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A Summary of the Final Rules on the Regulation of Yield Spread Premiums, Dominick Sartorio
March, 2011
In mid-August, the Federal Reserve enacted new rules that affect the regulation of yield spread premiums on mortgages. Dominick Sartorio, Director of New Business for Legacy Management Consulting Group, LLC, remarked on the standards that will ban yield spread premiums, which he defined as a practice that “unfairly led homebuyers into being saddled with unfairly high mortgage rates.”
A yield spread premium involves lenders paying a bonus to mortgage brokers, which translates to a higher interest rate for borrowers. The Federal Reserve banned the compensation practice in order to protect homebuyers from misleading lending practices. Mortgage brokers and their employers alike are affected by the final rule on yield spread premiums, which includes a clause that stops brokers from leading consumers into signing loans that are not in their best interests. The ban was created to enhance consumer safety in an area that previously faced little to no regulation. Homebuyers now remain better equipped to choose the loan that best suits their interests and level of financial stability.
Taking effect on April 1, 2011, the final rules that apply to the regulation of yield spread premiums work to protect consumers and lenders. For more information on the Federal Reserve’s decision regarding yield spread premiums, visit the organization’s website at www.federalreserve.gov.
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Dominick Sartorio: Recap of the IRS Dirty Dozen Tax Scams for 2011, Part 1
May, 2011
Every year, the IRS publishes a list of the worst tax scams of the year, in order to help taxpayers avoid financial loss. In this article, executive Dominick Sartorio provides a quick overview of these “dirty dozen” scams.
Offshore tax evasion: A frequent entry on the Dirty Dozen list, the IRS continues to crack down aggressively on taxpayers that hide their income in offshore bank accounts or in other illegal tax havens. In order to combat tax evasion, the IRS has instituted a special voluntary disclosure program, available to taxpayers with offshore accounts until August 31, 2011.
Identity theft and phishing: In addition to opening fraudulent credit card accounts in someone else’s name, identity thieves can also file fraudulent tax returns in order to collect illegal refunds. Often, these scams are perpetrated through the use of phishing emails, in which scammers pose as the IRS and then try to get users to install malicious software on their computers.
Fraud by return preparers: Taxpayers need to take care when choosing a professional tax preparer. Either through ignorance or deliberate fraud, these individuals sometimes skim a portion of the taxpayer’s return for themselves or charge inappropriate fees. The IRS has instituted new continuing education and regulatory requirements to decrease the incidence of this kind of fraud.
Filing false forms: An increasing number of scammers are creating false information forms in order to give the impression that the IRS owes them a balance. This type of refund fraud is most often perpetrated by family or friends. Taxpayers should take care whenever someone asks for financial information, even relatives. Participation in refund fraud can lead to criminal prosecution.
Dominick Sartorio: Recap of the IRS Dirty Dozen Tax Scams for 2011, Part 2 here
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