We are regularly called upon by clients to represent them in matters initiated by the U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission including investigations, contested proceedings, and negotiated settlements. Our highest priority in these matters is to avoid charges and any need for settlement, and much of the Firm’s work has resulted in determinations by the enforcement divisions of these agencies not to bring proceedings. When appropriate in specific circumstances, the Firm brings to bear decades of experience in hundreds of matters to achieve client resolutions. The Firm is also fully prepared to bring to trial matters that cannot be settled. For example, the Firm recently tried SEC v. Duka, in which following a multiple week trial and years-long investigation, the Judge ruled against the SEC on its claims of fraud and denied the equitable relief sought by the Commission.
Our clients in SEC and CFTC enforcement proceedings include officers and directors of public companies, managing directors of financial institutions, investment advisors and hedge funds, as well as principals and managers of such firms, broker dealer executives, managers and firms, securities, commodities and foreign exchange traders and trading supervisors, and accountants, lawyers and compliance professionals, and our past and current engagements encompass issues across the spectrum of subject areas investigated by the SEC and CFTC, including financial statement reporting, investment bank and ratings agency research, alleged insider trading, secondary market mortgage-backed securities trading, “dark pool” trading services, mutual fund market timing, FCPA investigations, alleged trading benchmark manipulations, alleged futures manipulation in the energy markets, and alleged investment adviser fraud and fiduciary misconduct. With the experience gained in these numerous matters, the Firm consistently guides clients toward effective strategies to deal with each stage of the enforcement proceeding.