Our team, which includes former SEC enforcement attorneys, offers a significant perspective on current trends and discussions to help assess and mitigate ongoing SEC Regulations and their effects on the market. The SECurities Law Perspectives blog reports on important cases, developments and trends in SEC enforcement and regulatory activity that are likely to have an impact on corporate and individual liability. This blog is maintained primarily by Faegre Drinker partners Mary P. Hansen, James G. Lundy, and Michael MacPhail.
Mary is the co-leader of the firm’s White Collar Defense & Investigations practice. She joined the firm from the SEC, where she was an assistant director in the Division of Enforcement. During her tenure at the SEC, Mary supervised teams of attorneys, including attorneys in the division’s Market Abuse Unit and Municipal Securities and Public Pensions Unit. She conducted and supervised complex investigations involving a range of violations, including insider trading, broker-dealer fraud, investment adviser fraud, offering fraud, Ponzi schemes, market manipulation, municipal securities fraud, and Foreign Corrupt Practices Act violations. She also established investigative plans, guidelines, and priorities for staff attorneys and developed litigation strategies for matters that went to trial. In addition to her significant legal experience, Mary brings industry experience, having worked at a major broker-dealer for nine years in various audit and compliance roles. Since joining the firm, Mary has represented entities and individuals in connection with SEC investigations and litigation. Her insights and perspectives on SEC developments are based on her knowledge and familiarity with the industry and the federal securities laws combined with her understanding and knowledge of the internal workings of the SEC.
Jim partners with investment management firms, broker-dealers, hedge funds, futures trading firms, public and private companies, and their boards, committees, and management to overcome regulatory enforcement matters. Jim also leads internal investigations, serves as an independent monitor, provides counsel on governance, compliance, and policy issues, defends complex financial services litigation, and handles cybersecurity regulatory investigations. He is also called upon to serve as an expert witness and consulting witness regarding SEC and CFTC practices. Prior to joining the firm, Jim served at the SEC for twelve years as a senior trial counsel and as a branch chief, and finished his career on the staff as a senior regulatory counsel who assisted with leading the SEC’s examination program for the Midwest. Prior to joining the firm, Jim served as an associate general counsel at a securities and futures brokerage firm affiliated with a European-based global bank. Jim co-leads the firm’s Best Interest Compliance Team, serves on the Steering Committee for the firm’s Financial Services Industry Group, and is the firm’s Lateral Integration Partner.
Michael defends clients against federal and state government agencies during civil and criminal investigations and litigation, primarily involving the securities industry. He represents public companies, registered investment advisers and broker-dealers. After working for the U.S. Court of Appeals for the D.C. Circuit, where he advised panels of judges including current U.S. Supreme Court Justices Clarence Thomas and Ruth Bader Ginsburg, Michael became an enforcement attorney with the SEC. Across 13 years, he investigated possible violations of federal securities laws and eventually becoming Assistant Deputy Director with supervisory authority over a group of accountants, attorneys and paralegals. Michael has particular expertise in defending publicly held companies and their officers and directors, broker-dealers and investment advisers, and accounting firms and CPAs during government investigations.