Mar 21, 2024

Maine SEC Defense Lawyers

Maine SEC Defense Lawyers

Being investigated by the SEC can be a scary and overwhelming experience. But with the right legal representation, you can protect your rights and interests. Anyone in the state of Maine who is facing a potential, or active, SEC investigation, should speak to the Spodek Law Group for a risk free consultation. Our SEC defense lawyers work nationwide, and have over 50 years of combined experience dealing with complicated situations.

This article provides an overview of SEC defense lawyers in Maine – who they are, services they provide, and key considerations when choosing counsel.

What is the Securities and Exchange Commission?

The Securities and Exchange Commission (SEC) is a federal agency that deals with laws related to securities trading and the financial markets. The SEC investigates potential violations like insider trading, accounting fraud, and providing false information about securities.

SEC Enforcement Powers and Civil Penalties

If the SEC believes violations have occurred, they can impose civil penalties like:

• Fines
• Disgorgement of profits
• Bars from the securities industry

They can also refer criminal matters to the Department of Justice for potential criminal prosecution.

Why You Need Specialized SEC Defense Counsel in Maine

Here are some key reasons to hire specialized SEC defense counsel if you are facing an SEC investigation in Maine:

• They have extensive experience dealing specifically with SEC rules, investigations, and enforcement actions.
• They understand the complex financial concepts and transactions involved in many SEC cases.
• They can negotiate skillfully with the SEC on your behalf to attempt to minimize penalties.
• They know how to mount aggressive legal defenses to the SEC’s allegations.
• They can guide you through the confusing SEC investigative process.

SEC Defense Lawyers in Maine

Essential Defense Strategies in SEC Investigations and Enforcement Actions

Experienced SEC defense counsel can employ a variety of strategies to protect the interests of clients involved in SEC matters, including:

• Conducting internal investigations to uncover facts and determine if violations occurred.
• Attempting to convince the SEC no violations took place, through position papers and presentations.
• Working cooperatively with SEC staff to clarify misunderstandings.
• Seeking to settle matters early to avoid litigation.
• Vigorously contesting SEC allegations during litigation via motions to dismiss, discovery battles, depositions, etc.
• Making strategic decisions regarding whether to settle or litigate.
• Avoiding collateral consequences like criminal prosecution or class action lawsuits.

Federal Securities Laws and Regulations Governing SEC Defense

SEC defense lawyers must have expertise in the complex web of laws, rules, and regulations applicable to SEC enforcement actions and securities litigation.

Critical Securities Laws Every SEC Defense Attorney Must Know

Some key laws and regulations governing SEC defense work include:

Securities Act of 1933 – The primary law regulating securities issuances and sales. Establishes registration and disclosure requirements for public offerings.

Securities Exchange Act of 1934 – Created the SEC and authorizes it to register and regulate brokerages and stock exchanges. Also regulates periodic reporting by public companies.

Investment Advisers Act of 1940 – Governs the registration and conduct of investment advisers.

Investment Company Act of 1940 – Regulates the organization and activities of investment companies like mutual funds.

Sarbanes-Oxley Act of 2002 – Imposed major reforms on public company auditing, financial disclosures, corporate governance, and securities regulation in response to major accounting scandals.

Dodd-Frank Act of 2010 – Brought about sweeping changes to financial regulation, including expanding SEC enforcement powers.

SEC Rules and FINRA Regulations

SEC Rules – There are thousands of SEC rules on topics like mandatory disclosures, insider trading, and more. Examples include:

• Regulation FD
• Regulation SHO
• Regulation M
• Regulation S-K

FINRA Rules – Govern the activities of broker-dealers and securities firms. FINRA works closely with the SEC on enforcement and can impose its own sanctions.

Experienced SEC defense lawyers understand how these laws, regulations, and rules apply to the specific facts at issue in an SEC investigation or enforcement action.

Maine SEC Defense Lawyers