If you have just received a SEC Subpoena, whether for an investigation into possible insider trading, market manipulation or crypto fraud, you are now faced with the decision of whether to hire a SEC defense attorney. Doing so provides tremendous benefits and a level of legal protection that you cannot replicate by going at it alone, notwithstanding your belief (whether accurate or not) that you have “done nothing wrong” and that you can simply speak with the SEC and make the investigation go away.
The five reasons to hire an experienced and seasoned SEC defense attorney are as follows:
- A Strong Working Knowledge of the Federal Securities Laws
A competent and experienced SEC defense attorney has a specialized understanding of the federal securities laws and can assist their clients in navigating the often-complicated landscape of the financial markets in determining what constitutes a violation of the law, and more importantly, what does not. As a former SEC Enforcement Prosecutor and now securities defense lawyer, I have a deep and practical understanding of the key securities law provisions that the SEC often investigates and prosecutes, including the registration provisions under the Securities Act of 1933 and the anti-fraud sections of the Securities Exchange Act of 1934 and the Investment Advisors Act of 1940.
- Understanding How the SEC Investigates, Prosecutes and Settles
An experienced SEC defense lawyer attorney understands how the SEC conducts its investigations, prosecutes its cases and negotiates its settlements. Having worked at the SEC in its Enforcement Division as a Senior Counsel, I have a unique institutional understanding of just that. Armed with this knowledge, I strategically guide my clients through the investigatory process with the objective of attempting to ultimately persuade the SEC to drop its investigation. I have achieved successful results for many of my clients. (Check out my website under “Recent Successful Results”). If settlement is necessary, I seek to negotiate to achieve the best terms for my client, including lesser charges, the most favorable language and reduced financial penalties, in order to resolve the matter and allow my client to move on with life.
- Employing a Strategic Defense Early in the Investigation
A SEC defense attorney will formulate a strategy early on in the investigation to best position his client for either a closure of the investigation without enforcement action or settlement, depending upon the particular facts of the case. The means to accomplish this vary, but may include an attorney proffer where counsel explains to the SEC why its fundamental assumptions about the client and his conduct are incorrect, to recommending that the client testify under oath to explain the situation, to advising the client not to speak and assert his Fifth Amendment Right under the US Constitution. After over twenty-five years of defending SEC investigations, I understand the critical need of utilizing sound but creative strategies that best seek to maximize my client’s chance for a successful outcome.
- Avoiding or Mitigating Professional and Personal Reputational Damage
The fallout from SEC investigations, even though conducted on a non-public basis, can severely damage an individual’s or company’s reputation, even if the investigation is ultimately dropped. A seasoned sec defense lawyer can help his client either avoid such reputational fallout altogether or, in the alternative, mitigate it.
- Providing a Shoulder to Lean On During an Extremely Stressful Process
The truth is that SEC investigations are extremely stressful and can cause a client to experience anxiety, depression and an acute sense of loss of control. While my role is that of an attorney, I understand and appreciate that patience, caring and empathy are inextricably linked to doing my job. I take tremendous professional satisfaction in successfully navigating my clients through these complex legal and emotionally charged circumstances. Not many lawyers either realize this or chose to discuss it, but I understand it to be a critical part of my professional obligation owed to my clients.
In conclusion, don’t play lawyer with the SEC — the stakes are simply too high, and it typically never ends well. Yes, quality sec defense counsel costs money, but the financial and reputational downside of not doing it right will inevitably pale in comparison.
Have You Just Received a SEC Subpoena?
Insider trading attorney David Chase, Esq. of the Law Firm of David R. Chase, has achieved successful results for his clients under SEC investigation for more than twenty-five years. If you have received a SEC Subpoena for possible illegal insider trading, contact David for a confidential consultation at: 800-760-0912 or e-mail him at: david@davidchaselaw.com. Visit the Firm’s website for valuable content and to review the firm’s prior successful SEC defense results at: www.securitiesfrauddefense.net. Representation is nationwide, including Boston, San Francisco, Houston, Palm Beach or Philadelphia.
