Davis Polk’s securities enforcement practice is a leader in the field, representing the world’s foremost financial institutions, accounting firms and corporations in their most significant investigations and enforcement actions.

We offer integrated teams of leading lawyers across multiple disciplines to advise clients on the full range of government enforcement, investigations and advisory matters, including those associated with anti-corruption laws, economic sanctions, anti-money laundering and anti-terrorist financing laws, insider-trading and accounting irregularities matters related to financial fraud.

We provide a world-class combination of financial regulatory and transactional advice to our clients and are highly respected throughout the securities industry and by securities regulators, both in the U.S. and internationally.

Many of our current and former lawyers have held prominent positions with the relevant law enforcement agencies and financial regulators, including the Securities Exchange Commission (SEC), Department of Justice (DOJ), U.S. Treasury, Federal Deposit Insurance Corporation (FDIC), U.S. Office of Foreign Assets Control (OFAC) and U.S. Commodity Futures Trading Commission (CFTC).  

Awards and Rankings 

• Ranked nationally among U.S. law firms for Securities Regulation in Chambers USA: “Davis Polk has really come to the forefront in financial services regulation since the economic downturn.”
  
  
  
• “The lawyers have tremendous expertise and excellent advocacy skills.” Chambers USA 2011

We have represented corporate and individual clients in some of the largest and most significant FCPA investigations. Our lawyers are currently representing clients in approximately 20 ongoing FCPA-related matters.

Notable matters include:

• We represented Siemens AG in the largest FCPA investigation in U.S. history, which resulted in a landmark settlement with the DOJ and SEC. We also advised on the company’s global defense to investigations in multiple jurisdictions and a settlement with the World Bank.
  
  
• We represent one of the world’s largest mining companies in a recently disclosed FCPA investigation relating to certain exploration projects in multiple worldwide jurisdictions.
  
  
• We represent Morgan Stanley in connection with a publicly disclosed internal investigation into potential FCPA violations in China.
  
  
• We represent one of a handful of major drug companies in connection with a joint SEC and DOJ anti-corruption investigation into the pharmaceutical industry.
  
  
• We represent two major financial institutions in connection with the SEC's industry-wide FCPA review of the Sovereign Wealth Fund business. 

We provide a full range of services in connection with insider trading, from real-time advice to active traders, including hedge funds, to the design of compliance programs and representation of those involved in internal investigations.

Notable matters include:  

• We represent a Fortune 500 company in connection with an SEC insider trading and fraud inquiry, as well as providing ongoing advice on insider trading issues.
  
  
• We represented the CEO of a Fortune 100 company in connection with allegations of insider trading. We successfully persuaded the SEC staff not to file any charges.
  
  
• We represent a large hedge fund in connection with the recent spate of subpoenas issued by the United States Attorneys Office in connection with third party research providers. 

We represent public companies and accounting firms in connection with private and public litigation and investigations related to financial and accounting fraud.

Notable matters include:

• We represented current and past Bank of America directors and officers in investigations by the SEC, the New York Attorney General and certain congressional committees of Bank of America’s acquisition of Merrill Lynch.
  
  
• We represent Sterling Equities, the owners of the New York Mets, and related entities and individuals in connection with highly publicized litigation arising from the Madoff liquidation.
  
  
• We represent E*TRADE in a variety of regulatory investigations and securities and derivative litigations in connection with its announcements regarding losses stemming from exposure to second-lien mortgages and mortgage-backed securities. 

We routinely advise broker-dealers and other financial institutions in connection with SEC, CFTC and FINRA inquiries.

Notable matters include:

• We regularly represent Morgan Stanley in a range of confidential enforcement investigations and matters involving, among others, the enforcement divisions of the SEC and FINRA.
  
  
• We are representing the U.S. broker-dealer subsidiary of an international financial institution in connection with a multiyear FINRA Enforcement Division investigation into its sales of structured products to retail investors.
  
  
• We are advising two major financial institutions in connection with investigations being conducted by various governmental authorities, including the CFTC and the DOJ Fraud and Antitrust Divisions, regarding allegations of manipulation and collusion with respect to the setting of U.S. dollar LIBOR
  
  
• We represent and provide ongoing advice to an international financial and insurance company in connection with various matters, including (i) SEC and NYAG investigations into CDO practices and (ii) an internal investigation relating to an anonymous letter alleging insider trading and securities law violations.

We have long been the firm of choice for the world’s leading accounting firms in securities enforcement and litigation actions.

Notable matters include:

• We represented a major accounting firm in connection with an accounting-related SEC investigation of a Fortune 100 Company, which resulted in a large company settlement, but no action against our client.
  
  
• We are representing a major accounting firm in connection with an SEC investigation related to accounting issues at a Fortune 50 Company.
  
  
• We are representing a major accounting firm in connection with regulatory investigations arising out of the Madoff scandal.
  
  
• We are representing a major accounting firm in connection with an SEC investigation related to a significant hedge fund.