Overview
(March 23, 2026, Chicago) – Steptoe LLP is pleased to announce that Vincent P. (Trace) Schmeltz, III, a nationally recognized investigations and financial regulatory litigator, has joined the firm as a partner in its Investigations, White‑Collar Defense & Compliance and Financial Innovation and Regulation groups in Chicago.
Trace joins Steptoe from Barnes & Thornburg, where he co‑chaired the Financial and Regulatory Litigation and Fintech groups. He brings extensive experience handling trials, SEC, DOJ, and CFTC investigations; complex securities and commodities litigation; directors special committee matters; and high‑stakes enforcement actions.
With more than two decades in practice, Trace guides and defends clients facing allegations of financial malfeasance, fraud, misappropriation, breach of fiduciary duty, and other sensitive regulatory issues. His clients have included Fortune 500 companies, auditors, investment banks, hedge funds, futures commission merchants, fintech companies, and corporate directors.
"Trace's strong practice, industry knowledge, and track record leading some of the most sensitive special committee matters make him an extraordinary addition to our national platform and a key part of our Chicago strategic expansion," said Steptoe Chicago Office Managing Partner Rachel Cannon. "He enhances our ability to serve clients confronting complex multi‑agency investigations and governance challenges in a rapidly evolving regulatory landscape."
At Steptoe, Trace will focus on internal corporate investigations; SEC, CFTC, and DOJ enforcement defense; independent investigations and representations of Board Special Committees; governance and fiduciary litigation; financial misconduct matters; fintech regulatory issues; and securities and commodities disputes.
He joins a growing roster of high-profile lateral hires that reflects Steptoe's strategic focus on financial services and emerging technologies, complex investigative matters, and global risk management. Recent additions include Jamari Buxton, Matt Galvin, Carl Hahn, Marlon Paz, Jonathan Drimmer, Yousuf Aftab, Christian Auty, and Michel Paradis.
"Steptoe's platform is attractive in its depth, collaborative culture, and commitment to sophisticated investigative and regulatory work," said Trace. "I'm excited to join this world‑class team and help expand its capabilities in Chicago and across the financial services sector."
Trace earned his J.D. from the University of Kansas School of Law and his B.A. from Principia College.
About Steptoe
In more than 110 years of practice, Steptoe has earned an international reputation for vigorous representation of clients and innovative thinking before governmental agencies, successful advocacy in litigation and arbitration, and creative and practical advice in structuring business transactions. Steptoe has more than 500 lawyers and other professional staff across offices in Beijing, Brussels, Chicago, Hong Kong, Houston, London, Los Angeles, New York, San Francisco, and Washington, DC. For more information, visit www.steptoe.com.
