SEC Enforcement and Private Securities LitigationMarch 24, 2022
In the past year, the Securities and Exchange Commission has announced new priorities in enforcement, including a focus on environmental, social and governance issues, digital assets, and SPAC transactions. At the same time, notable decisions in private securities litigation have changed the landscape as new trends develop.
S&C partners Steve Peikin, Jeff Scott and Julia Malkina discuss these emerging issues and offer practice guidance in two podcasts, as well as in the publication, Securities Enforcement and Litigation Update. Steve brings insights as the former Co-Director of the SEC’s Division of Enforcement, and, as the co-leads of S&C’s Securities Litigation practice, Jeff and Julia have significant experience successfully defending clients in enforcement matters and private securities suits.
S&C Critical Insights – SEC Enforcement: Trends and Practice Guidance
S&C Critical Insights – Private Securities Litigation: Trends and Emerging Issues
S&C is widely recognized as one of the premier firms representing clients in securities enforcement actions and in private securities litigation. Recently, an S&C team led by Steve Peikin, Jamie McDonald and Julia Malkina advised crypto lender BlockFi in sensitive and groundbreaking negotiations with the SEC and 32 state regulators over its interest-bearing crypto account product. The settlement clarified regulatory questions about whether these accounts are securities and is the first to formally address cryptocurrency lending platforms. With this settlement, BlockFi became the first company to announce plans to register an interest-bearing crypto account product.
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Steven Peikin leads Sullivan & Cromwell’s Securities & Commodities Investigations & Enforcement Practice, representing clients in a wide range of regulatory enforcement investigations, white-collar criminal matters and internal investigations. From 2017 to 2020, Steve served as Co-Director of the U.S. Securities and Exchange Commission’s Division of Enforcement, where he oversaw all aspects of the SEC’s national enforcement program.
Jeff Scott is co-lead of S&C’s Securities Litigation practice and has secured significant successes for clients in matters including securities, antitrust, and commercial civil litigation and regulatory and criminal investigations. He has been recognized as a Law360 MVP in securities litigation, multiple times in The American Lawyer’s Litigator-of-the-Week series, and as a Litigation Trailblazer and Winning Litigator by The National Law Journal.
Julia Malkina is co-lead of S&C’s Securities Litigation practice. She represents prominent corporations, financial institutions and individuals in their most complex and high-stakes matters. Her practice comprises trial court litigation, appellate court litigation and regulatory proceedings in areas including securities, commodities and criminal law. Julia was named a 2020 Rising Star by the New York Law Journal.
Jamie McDonald is a member of the Firm’s Securities & Commodities Investigations and Enforcement practice and its Commodities, Futures and Derivatives group. His practice focuses on advising clients on regulatory enforcement matters, white-collar criminal matters, and internal investigations, as well as on corporate governance and compliance related to commodities and derivatives laws. From 2017 to 2020, Jamie served as Director of the U.S. Commodity Futures Trading Commission’s Division of Enforcement and previously served as an Assistant United States Attorney in the Southern District of New York.