Securities Regulation & Enforcement

Securities Regulation and EnforcementRepresenting a client during a securities regulatory or enforcement matter requires specific legal experience and particularized knowledge. Founding partners, James D. Sallah and Jeffrey L. Cox, are both former, Senior SEC Enforcement attorneys. Mr. Sallah is also a former Associate Corporate Counsel of a national brokerage firm. Mr. Cox is a both a former SEC Special Assistant United States Attorney (SAUSA) and a former AUSA responsible for prosecuting economic crimes. Our newest partner, Mark J. Astarita has 30 years of experience as outside counsel to regional firms and individual brokers in all types of securities investigations, wells notice submissions and enforcement trials. They have the in-depth experience and knowledge needed to navigate securities regulators' scrutiny.

Securities regulation and enforcement matters may be initiated by a number of regulatory agencies, including the U.S. Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), stock exchanges, state financial agencies, and foreign regulatory bodies. These agencies investigate and file civil regulatory actions involving violations ranging from unregistered offerings to securities fraud. Indeed, an enforcement action can result in court-ordered receiverships, temporary restraining orders (TROs), preliminary and permanent injunctions, asset freezes, disgorgement, severe monetary penalties, officer and director bars, penny stock bars, and administrative orders barring individuals or entities from the securities industry. The mere existence of an informal inquiry or formal investigation can destroy an individual's reputation or an entity's name. Simply put, it is critical to be represented by experienced counsel.

Securities laws and regulations are also routinely changed and reinterpreted by courts and regulators. For example, FINRA regularly issues "Notices to Members" interpreting NASD and NYSE rules and regulations. Changes to rules and regulations could severely impact your case or dispute. To ensure zealous and aggressive representation, our firm stays up-to-date on the latest changes and interpretations to the securities laws and regulations.

Our attorneys have defended individuals, corporate officers, registered representatives, member firms, and others before securities regulators. We represent clients at each critical juncture in an SEC enforcement proceeding, including from an initial inquiry, through a formal investigation, including responding to administrative subpoenas for documents and "on-the-record" testimony, through the "Wells" process, and during litigation, including during settlement negotiations, pre-trial hearings, administrative hearings, and federal trials.

If you have any questions or would like to discuss your specific situation, please contact Sallah Astarita & Cox, LLC for a free initial consultation.

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