When the SEC Comes Knocking
Strategies for Responding to SEC Investigations and Minimizing Penalties
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Tuesday, November 10, 2009
Recorded event now available
This seminar will review current SEC enforcement activities and best practices for responding to an SEC subpoena, including protecting attorney-client and work product privileged documents. The panel will review strategies to prevail in an SEC investigation.
Description
With new leadership, a drastically increased budget, and a renewed sense of activism in the wake of the financial meltdown on Wall Street, the Securities and Exchange Commission Enforcement Staff will act more quickly, more aggressively, and exact greater penalties from enforcement action targets.
Publicly traded corporations, particularly in financial services, anticipate significantly stepped-up SEC enforcement, much closer scrutiny of their activities, and increased penalties. The agency will exert greater pressure on companies to respond quickly to requests for documents and testimony.
Effective action taken early in an SEC probe can mitigate penalties and possible criminal prosecutions. In the new enforcement environment, a company subject to SEC inquiry must show that it had reasonable compliance procedures in place and demonstrate cooperation with the investigation.
Listen as our panel of legal specialists discusses current SEC enforcement initiatives, best practices for responding to an SEC investigation, and strategies for minimizing penalties.
Outline
- SEC enforcement initiatives: structural and policy changes
- Division reorganization—streamlined case management
- Specialized units—types of investigations
- Formal orders
- Tolling agreements
- Cooperation by individuals
- Office of Market Intelligence
- Focus on financial services industry
- Strategies for responding to a subpoena
- Document production
- Attorney-client privilege and work product
- Negotiating the scope and production time period of subpoena
- Costs
- Subpoenas for testimony
- Cooperation in the investigation—what’s required?
- Timely production of documents
- Results of independent investigations
- Written reports
- Witness interviews
- Waiver of attorney-client privilege
Benefits
The panel will review these and other key questions:
- What SEC enforcement initiatives are directed at the financial services industry—financial advisors, funds and other financial institutions?
- What immediate actions should a company take when receiving a subpoena for records or testimony?
- What factors will the SEC consider in deciding whether the company is sufficiently cooperating in the investigation?
- How can counsel act to preserve the attorney-client privilege during an SEC investigation?
Faculty
John J. Carney,
Partner
Baker Hostetler, New York
He represents public companies, their officers, directors and employees, regulated entities and others in SEC investigations and criminal law enforcement investigations, as well as in related civil litigation. He works with audit committees, corporations, and senior officers of public companies to advise them during investigations and to design remedial compliance and corporate governance measures.
Richard W. Grime,
Partner
O'Melveny & Myers, Washington, D.C.
He represents clients in internal investigations and on a full range of securities enforcement, regulatory, and compliance matters. He also routinely represents clients in investigations before FINRA, the SEC and other government agencies. Before joining the firm, he spent over nine years in the Division of Enforcement at the SEC. In his last four years at the SEC he was an assistant director.
Ty Cobb,
Partner
Hogan & Hartson, Washington, D.C.
He practices in the areas of white collar criminal litigation, SEC enforcement and congressional investigations, and related complex litigation. He has managed multiple cases and investigations through the SEC, DOJ and Congress involving significant accounting issues and restatements, insider trading, foreign corrupt practices, internal controls, healthcare, false claims and qui tam complaints.
Ordering
Online CLE - Audio Recording
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
Pre-approved for participatory or non-traditional/alternate format credit in: CA, HI*, NY*, WV*.
Pre-approved for self-study credit in: AK, AZ, MO, MT, OR*, TX*, VT, WA.
Upon request, also available in: CO, CT*, FL, GA, ID, KY, LA*, ME, NC, ND, NE, NH, NM, NV, SC, TN, UT, WI, WY. If you are applying for credit in one of these states, make sure to select those states when placing your order.
(*Indicates that Strafford must report attendance.)
Online CLE Audio $149.00
Available 24 hours after the live event
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, HI, MO, MT, NY, OR, TX*, VT, WA, WV. Upon request, self-study credit is also available in: CO, FL, GA, ID, KY, ME, ND, NE, NH, NM, NV, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com. (*Indicates that Strafford needs to process the CLE — see below to purchase this option.)
Webinar Download (Audio + Slide Presentation) $49.00
Available three business days after the live event
Webinar on DVD (Audio + Slide Presentation) $49.00
plus $9.45 S&H
Available ten business days after the live event
MP3 Download (Audio Only) $49.00
Available 24 hours after the live event
Teleconference on CD (Audio Only) $49.00
plus $9.45 S&H
Available ten business days after the live event
Webinar/Teleconference
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CLE Credit
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Customer Reviews
I liked the speaker's overall information on the industry and how compelling the presentation was. The program was very thought provoking, and covered more than what we expected.
Judy Chen
Chapman and Cutler LLP
I liked the detailed statistics and case discussions provided by the speakers.
Kathryn C. Ellsworth
Grais & Ellsworth LLP
The topic covered was very timely, the program was well structured and I appreciated that the speakers addressed very recent issues.
Benjamin Brutlag
CSM
I liked the combination of the substantive material and the legal perspective.
Jane Shea
Frost Brown Todd LLC
Very good breadth and depth of the subject matter - the speakers had a lot of experience and insight.
Ken J. Pedersen
Pedersen & Company, PLLC
Finance Law Advisory Board
Partner
Gibson Dunn & Crutcher
Partner
Nixon Peabody
Partner
Alston & Bird
Counsel
Mayer Brown
Partner
O’Melveny & Myers
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