Matthew O'Hara Quoted in Compliance Week Article on SEC’s Increased Use of Administrative Law Proceedings
Matthew O'Hara, a partner in the firm's Chicago office, was quoted in the article "Lawyers Decry SEC's Expanded Use of Administrative Law Proceedings," which appears in the September 30, 2014 issue of Compliance Week. The piece focuses on the U.S. Securities and Exchange Commission's (SEC's) expanding use of administrative law proceedings rather than federal court actions in enforcement matters.
The article notes that the SEC is increasingly using such proceedings—and thereby bypassing the federal court system—to, among other things, "prosecute insider-trading cases on its own terms." Critics note many disadvantages of the SEC's expedited administrative law proceedings, especially as they affect the rights of the accused. Says Mr. O'Hara, "It is a venue that potentially poses problems for defendants. The SEC’s enforcement staff says they intend to bring more cases in the forum and we’ve begun to see that. Some of these cases raise cutting-edge issues, as opposed to run-of-the-mill enforcement actions, and parties who are averse to the SEC would prefer to be in a federal court, but they won’t necessarily have that option."
Please visit Compliance Week's website to read the full article (subscription required).
Mr. O'Hara concentrates his practice in the litigation, trial and appeal of complex commercial matters in federal and state courts. He has tried cases involving antitrust, the federal securities laws, breach of fiduciary duty, trade secrets, trademark infringement, breach of contract, license agreements, executive employment, warranties under the Uniform Commercial Code and criminal defense. He also litigates cases involving private shareholder and partnership disputes, legal malpractice, the Uniform Fraudulent Transfer Act and other commercial matters.