Troubled Asset Investigations, Enforcement & Litigation Team

Steptoe has a highly skilled white-collar, securities investigations and litigation and Congressional oversight team capable of responding to current troubled asset issues. With our headquarters in Washington, DC and offices in New York, Los Angeles, Chicago and Phoenix, Steptoe is well positioned to handle SEC, Department of Justice and New York State Attorney General investigations, enforcement proceedings or trials and related private litigation as well as Congressional oversight investigations. It is experienced in the regulatory issues in the financial services industry, as well as in the investigative, compliance, enforcement and litigation aspects of such matters.

SEC, Department of Justice and New York State Attorney General Investigations and Enforcement and Related Private Litigation
Steptoe trial lawyers have represented many of the nation’s best known senior executives, corporations, and board committees in some of the most high-profile securities fraud and accounting fraud criminal trials, civil trials, administrative proceedings and investigations in the country. Many of the attorneys in our highly regarded white collar and securities enforcement teams are former government prosecutors or former members of the SEC staff. We have represented clients before the SEC, Department of Justice and New York State Attorney General and in administrative and grand jury investigations they have conducted.

Steptoe has a national team to handle private litigation arising from troubled mortgage backed securities, collateralized debt obligations, derivatives, credit default swaps, financial guarantees and mortgage insurance.  The Steptoe litigation team is well versed in the economic, finance and accounting issues of these complex financial instruments.

We have extensive experience in investigating and pursuing financial and accounting fraud and racketeering claims involving complex financial transactions.

Congressional Oversight & Investigations
Steptoe & Johnson LLP has represented institutions and individuals in virtually every major Congressional investigation conducted over the last decade.  In addition, we count among our attorneys and advisors many of the people that actually conducted those investigations on Capitol Hill.  Our representations have included complex financial transactions and corporate collapses conducted by both House and Senate committees.  These investigations frequently are conducted in parallel with civil litigation and criminal investigations and our lawyers, including former investigative staffers, are accustomed to working in cross-disciplinary teams to achieve success in the Congressional arena while preserving the rights and interests of our clients in related proceedings.

Corporate Internal Investigations
When problems arise, we act as independent counsel in internal investigations and as defense counsel in litigation involving alleged violations. We have advised boards of directors and audit committees, and conducted confidential investigations into a wide range of matters, including alleged financial and accounting irregularities affecting numerous statutes and regulations, often requiring financial restatements and corporate disclosures.

We have performed special board committee investigations and internal investigations for companies, boards of directors, audit committees, or special litigation committees into allegations of securities fraud, financial fraud, insider trading, investment management, market manipulation, financial irregularities requiring financial restatements, misappropriation of corporate assets or business opportunities, and a wide variety of other alleged criminal activity: commodities fraud, bank fraud, mail and wire fraud, bribery, tax fraud, government contract fraud, federal and state program fraud, Foreign Corrupt Practices Act (FCPA) violations, and money laundering.

Our attorneys represent board of directors’ special litigation committees and third-party professional firms in many shareholder derivative actions and shareholder suits. Senior corporate executives in some of the most noteworthy cases in the country relating to allegations of accounting fraud, securities fraud, and corporate misconduct have relied on our attorneys.

Corporate Compliance Programs
Our attorneys know the requirements for programs that will protect our clients under the Sarbanes-Oxley Act of 2002, the revised organizational sentencing guidelines and state fiduciary duty laws. We are well versed in government enforcement policy directives that impact corporate compliance. We help clients assess their risk potential in a wide variety of substantive areas, and have advised clients on establishing corporate codes of conduct and other standards, procedures, and training programs to prevent and detect improper conduct. We assist clients to establish monitoring and auditing programs, whistleblower hotlines, and incentive, disciplinary, remediation and reporting programs and procedures. We also advise regarding establishing effective training programs, much of which we can conduct.

Whistleblowers
We advise clients on how to respond to whistleblower allegations. Our experience includes the procedures developed under the Sarbanes-Oxley Act of 2002 regarding the investigation of such claims and the procedures for adjudicating such claims, as well as the investigation and adjudication of such allegations under a variety of other federal statutes. Other employees sometimes contact the federal government directly and in some circumstances such allegations become qui tam proceedings; our government contract attorneys have handled many such cases.

Anti-Money Laundering (AML)
We advise on all aspects of AML rules and regulations, both in the compliance counseling and enforcement contexts. Our attorneys are familiar with the long-standing AML legal framework set forth in the Bank Secrecy Act and the Title 18 of the US Code, as well as the more recent standards imposed by Title III of the USA Patriot Act.

Tax Practice
Our attorneys form one of the nation's premier tax advisory practices, regularly appearing as special tax counsel in a wide variety of transactions and advising corporations on all aspects of tax management, including planning, IRS audits, administrative appeals, and litigation.

A major highlight of our wide-ranging tax practice is our extensive experience in handling tax controversies, both at administrative levels and in litigation before the courts. We represent clients in civil and criminal controversy matters at all levels within the IRS and in the Tax and District Courts. When necessary, we litigate Tax Court cases and refund suits on behalf of our clients in all federal courts. In our criminal practice, we defend our clients throughout the entire process, including grand jury investigations, jeopardy assessment review hearings, summons enforcement contests, post-indictment proceedings, trial, and post-trial proceedings.

Financial Services Industry Experience
We represent a diverse group of domestic and international commercial banks, mortgage banks, thrift institutions, credit unions, banking trade associations, bank holding companies, investment banks, hedge funds, private equity funds, pension funds, mutual funds and investment advisors and their officers and directors. We have represented clients before the Federal Reserve, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, FinCen and The IRS in the Department of the Treasury, the Securities and Exchange Commission, the Department of Labor, the NASD and NYSE.

Mortgage Securitization Experience
We also have deep experience in mortgage and asset securitization and structured finance issues. We represent a major Washington based trade association involved in commercial mortgage asset securitization issues in public policy, legislative and amicus brief matters. We have also represented a congressionally chartered corporation on residential mortgage securitization-related issues and public policy and legislative matters. Steptoe attorneys have represented issuers of over two billion dollars of asset backed securities.

Restructuring Experience
We have a sophisticated practice team representing lenders, debtors, creditors and purchasers in the workout or restructuring of troubled real estate loans and investments both within and outside of bankruptcy proceedings, a practice in which we formulate and implement complex and innovative approaches to workouts and troubled real estate transactions.  Liquidation of assets is occurring more frequently and imminently in bankruptcy cases, and judicious sale and acquisition strategies are critical.  Our attorneys have represented debtors, secured, unsecured and subordinated creditors, equity security holders, trustees, purchasers, sureties and insurers regarding financially troubled enterprises, both in the United States and abroad, with particularly deep experience in failed or failing real estate and construction projects.

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