Elizabeth "Lizzie" Baird focuses her practice on securities enforcement defense, internal investigations, and regulatory counseling. She routinely represents broker-dealers, public companies, investment advisors, senior management, and compliance officials in the financial services sector in connection with private and public investigations and enforcement proceedings brought by the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), Commodity Futures Trading Commission (CFTC), and other self-regulatory organizations and government agencies.
Prior to joining Steptoe, Lizze was the Deputy Director of the Securities and Exchange Commission’s Division of Trading and Markets, where she helped establish and maintain standards for fair, orderly, and efficient markets, and regulated major securities market participants. In this role, she oversaw the Offices of Broker-Dealer Finance, Derivative Policy and Trading Practices, and Fixed Income. Additionally, she led the cryptocurrency and digital efforts for the Division of Trading and Markets.
In addition to the regulatory and enforcement insights she offers clients, Lizzie brings a practical understanding of the daily challenges and needs of securities market participants, having spent nearly a decade on Wall Street as a municipal bond trader early in her career.
- District of Columbia
- J.D., Georgetown University Law Center, 1996
- A.B., Brown University, 1983
- Represented broker-dealers in various investigations conducted by the SEC, CBOE and FINRA, into securities lending practices*
- Represented a private equity fund in an investigation into the practices of an NRSRO*
- Represented broker-dealers in enforcement actions by both state and federal securities regulators into certain variable annuity sales practices*
- Represented a CFO of a public company in an investigation into financial fraud*
- Represented former Enron president Jeffrey K. Skilling in various investigations*
- Represented an investment adviser in the mutual fund investigations initiated by the SEC and N.Y. Attorney General Spitzer*
- Represented a public corporation in a disclosure matter before the SEC*
- Represented a market maker in a manipulation investigation conducted by the NASD*
- Represented a public corporation in an investigation of proxy solicitation violations before the SEC*
- Represented a silver trader in an investigation by the CFTC*
- Represented a major wire house in the SEC’s yield burning investigation*
- Represented a clearing broker in litigation before the SEC*
- Represented a clearing broker in a net capital investigation by the NASD*
- Represented an investment adviser in an insider trading investigation by the SEC*
- Represented a public corporation in a foreign corrupt practices investigation before the SEC*
- Conducted an investigation for a public company into short sales of its common stock*
- Conducted an internal investigation for a major wire house with respect to certain municipal bond underwriting issues*
- Conducted an internal investigation for a corporation with respect to certain accounting issues*
- Conducted an internal investigation for a public corporation regarding certain internal controls*
- Conducted an internal investigation for a major investment banker with respect to allegations of insider trading*
*Matters handled at prior firms.
News & Publications
June 24, 2021
Board Member, McLean Citizens Association (2015-2018)