Securities Enforcement and Litigation
Mike Trager, a Senior Partner, co-chairs Arnold & Porter's Securities Enforcement and Litigation Group, leads the Firm's securities enforcement practice, and is part of the Firm's leadership.
With nearly 30 years of experience, Mr. Trager defends investigations conducted by the Securities and Exchange Commission (SEC), Department of Justice (DOJ), Congress, Financial Industry Regulatory Authority (FINRA), Public Company Accounting Oversight Board (PCAOB), and other regulators. He also conducts and defends internal investigations and independent reviews, defends securities litigation, and counsels on corporate and regulatory compliance, corporate governance, crisis management, disclosure, and securities and market matters.
Mr. Trager represents global institutions, senior executives, and others in matters that often are high profile, involve complex facts and legal issues, and have substantial potential consequences. His clients include public companies across a wide array of industries, financial services and investment firms of all types, other market participants on both the sell-side and buy-side, and professionals (including accounting firms, auditors, law firms and lawyers). He also represents chairmen and other directors, chief executive officers, chief financial officers, general counsels, chief compliance and risk management officers, other senior executives, and principals.
Prior to entering private practice, Mr. Trager served in the SEC's Division of Enforcement in Washington, DC, where he was responsible for conducting investigations and involved in representing the government in litigation.
Chambers USA: America's Leading Lawyers for Business has consistently ranked Mr. Trager as a leading nationwide lawyer in the area of securities regulation and enforcement. According to Chambers, he is "practical and responsive" with "excellent analytical skills and a big-picture perspective." Chambers describes him as having "great instincts, meticulous attention to detail and client care" and "as an exceptionally talented practitioner" who is "highly collaborative" and "smart and resourceful."
The following are some examples of the many matters handled by Mr. Trager in recent years:
- Defended a public company in SEC and DOJ investigations involving financial reporting and disclosure issues
- Defended a Big Four accounting firm in SEC and PCAOB investigations involving the audits and reviews of a variety of public companies
- Defended an international law firm in Comptroller of the Currency, SEC, Congressional, and foreign governmental investigations involving financial transactions
- Defended a broker-dealer in a FINRA investigation involving management and related regulatory issues
- Defended a private equity firm in an SEC investigation involving insider trading
- Defended the Chief Executive Officer of a securities firm in an SEC investigation involving derivative financial products
- Defended the Chief Financial Officer of a public company in SEC, DOJ, and internal investigations involving financial reporting, accounting, and disclosure issues
- Defended the Chairman of a public company in an SEC investigation involving insider trading
- Represented one of the country's largest health care systems in recovering a substantial investment in a money market fund that failed as a result of the financial crisis - the single largest failure of a money market in history
- Represented a charitable national non-profit fund that benefits the families of law enforcement agents in addressing issues created by the orchestrator of a Ponzi scheme when he took advantage of the fund
- Appointed as the Independent Consultant to perform a review under the terms of a settlement between regulators and a global financial services firm
- Conducted an internal review on behalf of a public company involving potential violations of the Foreign Corrupt Practices Act
Chambers USA: America's Leading Lawyers for Business (2005-2013), ranked as a leading nationwide lawyer for securities regulation and enforcement
The Best Lawyers in America (2006-2014), selected for corporate law, securities litigation, and securities regulation
Washingtonian magazine (2009, 2011, and 2013), selected as one of the top lawyers in Washington DC for securities law
Martindale-Hubbell (2006-2013), received the highest peer review rating (Preeminent AV)
Also recognized in Washington DC's Best Lawyers, Washington DC Super Lawyers, Corporate Counsel Super Lawyers, Guide to the World's Leading Corporate Governance Lawyers, and The Legal 500 US: Litigation