Scarinci Hollenbeck, LLC
The Firm
201-896-4100 info@sh-law.comFirm Insights
3 Things You Need to Know After Receiving a Subpoena from the SEC
Author: Scarinci Hollenbeck, LLC
Date: April 1, 2023
Key Contacts
Back
The Scarinci Hollenbeck, LLC represents clients under investigation by the Securities and Exchange Commission (SEC), and other regulatory authorities. Our firm has worked on securities regulatory cases, white-collar defense cases and corporate governance matters for many years.
This article will examine three things you should know when you receive a subpoena from SEC.
What Is an SEC Subpoena?
During one of its investigations, the SEC can issue a subpoena requiring the attendance of a witness and the taking of their on-the-record testimony. The subpoena may also require the production of producing evidence (paper or digital).
3 Things You Need to Know About Getting a Subpoena from SEC
When dealing with an SEC investigation, proactivity is of the utmost importance. If you have just received a subpoena from SEC, here are three things you should be aware of:
1. Get in Touch with an SEC Defense Lawyer
Contact a defense attorney familiar with SEC subpoenas as soon as possible. Your attorney can help you through the inquiry and protect your rights. Your legal counsel should have substantial experience in SEC investigations.
You should consult an attorney for advice on how to respond, what documents you must provide, and how to prevent any inadvertent actions that might invite further investigation or even legal action.
An attorney can advise you on the best course of action, including what material to disclose and what to keep secret on privileged grounds. A subpoena’s scope or legality may also be contested.
2. Responding to a Subpoena from SEC
The first thing to do after receiving a Subpoena is to write down the date by which the requested materials must be delivered. The Commission may follow up immediately and aggressively if the deadline is missed. It’s possible to negotiate an extension. Keep in mind that answering is not the last step. After receiving your answer to their subpoena, the Commission may take many weeks or months to determine whether they need to continue their inquiry.
The next step is gathering the necessary papers in response to the subpoena; nothing must be destroyed. You might be facing further legal trouble in the form of an obstruction prosecution from the SEC if they discover you destroyed records that might have been relevant to the subpoena.
3. Timely Response is Essential
Lastly, make sure that you deliver the member of SEC Staff the requested papers and information promptly and in a fashion that complies with the subpoena. The necessary documentation should be provided, and your response should be thorough.
You should retain experienced securities law counsel to ensure that your answer contains all the legal objections to which you are entitled.
How Scarinci Hollenbeck, LLC Can Help
The Scarinci Hollenbeck Firm is familiar with responding to SEC subpoenas and defending clients against enforcement proceedings. We will vigorously represent your interests and assist you in figuring out what evidence the SEC requires from you and how to provide it.
We provide free consultations. So don’t hesitate to contact us or message us via our website if you’d like to talk with one of our lawyers right now.
- Locations: Red Bank, NJ, New York City, Washington, D.C., Little Falls, NJ
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Related Posts
See all
What to Do If You Are Impacted by a Retailer Bankruptcy Part 2
Over the past year, brick-and-mortar stores have closed their doors at a record pace. Fluctuating consumer preferences, the rise of online shopping platforms, and ongoing economic uncertainty continue to put pressure on the retail industry. When a retailer seeks bankruptcy protection, a myriad of other businesses are often impacted. Whether you are a supplier, customer, […]
Author: Brian D. Spector
The Current Administration's Proposals for the Financial Services and Banking Industries Will Affect Your Business
Since his inauguration two months ago, Donald Trump’s administration and the Congress it controls have indicated important upcoming policy changes. These changes will impact financial services policies and priorities. The changes will particularly affect cryptocurrency, as well as banking rules and regulations. Key Regulatory Changes in Cryptocurrency For example, in the burgeoning cryptocurrency business environment, […]
Author: Dan Brecher
Tips for Commercial Landlords Impacted by Wave of Retailer Bankruptcies Part 1
The retail sector has experienced a wave of bankruptcy filings over the last year. Brick-and-mortar businesses in financial distress include big-name brands like Big Lots, Party City, The Container Store, and Vitamin Shoppe. When large retailers seek bankruptcy protection, they are not the only businesses impacted. Landlords can be particularly hard hit. While commercial landlords […]
Author: Brian D. Spector
How Understanding Bankruptcy Trends Can Benefit Your Business
The bankruptcy legal landscape presents both challenges and opportunities for businesses navigating financial distress. Understanding current bankruptcy trends can help businesses make more informed and strategic decisions. Corporate Bankruptcy Filings Trending Upwards Bankruptcy filings continued to trend upwards in 2024. According to statistics released by the Administrative Office of the U.S. Courts, personal and business […]
Author: Brian D. Spector
SEC Takes Actions Against Issuers for Failure to File Form D
In December, the U.S. Securities and Exchange Commission (SEC) announced charges against two privately held companies for failing to file a Form D notice, which is generally utilized for exempt securities offerings. Here, the SEC’s enforcement sends a strong message: compliance with regulatory requirements is not optional and failure to comply can have significant consequences. […]
Author: Kenneth C. Oh
Redefining Labor Relations: NLRB's Pivot from Abruzzo’s Memoranda
On February 14, 2025, the Office of General Counsel (OGC) of the National Labor Relations Board (NLRB) under Acting General Counsel William B. Cowen issued Memorandum 25-05, “New Process for More Efficient, Effective, Accessible and Transparent Case handling.” The Memorandum rescinds nearly all of the Memoranda issued by his direct predecessor, Jennifer Abruzzo, setting the […]
Author: Matthew F. Mimnaugh
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.