Wallace was a recording artist for Epic Records in the late 1970's before attending Fordham Law School.

Clients of the firm have included BRYAN ADAMS, The B-52s and JEFF BUCKLEY, and Wallace has represented r&b acts such as DRU HILL, reggae superstar EDDY GRANT , rappers BEANIE SIGEL, I BORN and CRAIG MACK as well as personal managers who have represented acts such as BLONDIE, THE RAMONES, BRUCE SPRINGSTEEN and ROBERTA FLACK and producers who have done work for DAVID BOWIE, SONIC YOUTH, PHISH, MARY J. BLIGE and SALT'N'PEPA.

Wallace also represents photographers, cartoonists, graphic artists, and infomercial clients like HOWARD BERG, the "World's Fastest Speed Reader". He represents independent record labels like WAAKO, DIRT, KULT and VICIOUS RECORDS as well as magazines like D.M.A., SONGWRITER's MONTHLY and internet companies like mcy.com .

In addition to structuring & negotiating deals, Wallace has also won several high-profile litigations, including a copyright infringement case with the largest monetary judgment ever awarded for the use of a single "sample" in the song "Whoomp! There It Is."

He has authored numerous articles for legal and trade publications and is a regular contributor to Billboard, Entertainment Law and Finance and The New York Law Journal.

He is a member of N.A.R.A.S. (the National Academy of Recordings Arts and Sciences) and The Copyright Society of the USA. He is a frequent speaker on panels, at lectures and at seminars throughout the country on current entertainment business and intellectual property issues, including rights issues related to the Internet.

Wallace has appeared on many national television and radio broadcasts including COURT TV and HARD COPY.