SEC Enforcement Actions After Jarkesy: Restrictions on SEC's Pursuit of Civil Penalties

Drawing on her experience as a former SEC Senior Trial Counsel, Ms. Marlier represents public and private companies, financial services providers, and individuals in SEC, CFTC, FINRA, and internal investigations, as well as other related litigation. She has extensive experience litigating in federal, state, and administrative courts, leading complex negotiations, and representing her clients in mediation. Ms. Marlier also routinely counsels clients regarding, and is a speaker on, SEC enforcement developments, trends, and enforcement risk mitigation. She joined the firm after nine years at the SEC’s New York office, where Ms. Marlier served as lead counsel on a number of prominent enforcement litigations and investigations involving public companies, registered investment advisers, broker-dealers, banks, and individuals in matters arising under the federal securities laws. She has also worked closely with foreign securities regulators, numerous U.S. Attorney’s Offices, and FINRA.

Mr. DeFranco is a seasoned litigator who focuses his practice on securities and complex commercial litigation, regulatory investigations, and enforcement defense on behalf of financial institutions, public companies, and individuals. He routinely represents clients facing investigation and enforcement actions from financial regulators, including the SEC, CFTC, FINRA, and state securities regulators. These representations touch on a wide variety of issues, including disclosure or offering fraud, insider trading, market manipulation, lack of registration, and failure to maintain adequate policies and procedures. In connection with this practice, Mr. DeFranco regularly advises clients on their obligations under the federal securities laws. He has also represented clients subject to investigation by the DOJ.

With more than three decades of experience in securities regulation and enforcement, Mr. MacPhail represents publicly traded corporations, investment advisors, broker-dealers, transfer agents, accounting firms, law firms and individuals in a wide variety of high-stakes civil and criminal investigations, enforcement actions and private litigation. In defending his clients, he draws on his 13 years of experience as an SEC enforcement attorney, which included investigating possible violations of federal securities laws and eventually serving first as a branch chief, then as deputy assistant director with supervisory authority over a team of accountants, attorneys and paralegals. Mr. MacPhail also represents clients in parallel criminal investigations by federal grand juries, U.S. Attorney's Offices and the U.S. Department of Justice.