Marc D. Powers understands the legal, business and regulatory environment surrounding his clients, where he confidently and creatively acts on behalf of his diverse client base. The former leader of the firm’s Securities Litigation and Regulatory Enforcement practice team, as well as the Hedge Fund Industry practice team, Marc is retained for complex securities and business litigation and SEC enforcement investigations, especially those involving high-profile parallel proceedings and insider trading.
Marc often acts as offsite General Counsel to emerging and established companies in varied industries, guiding them on their legal issues and strategic decisions to achieve their business, regulatory and compliance goals.
Marc also advises clients specifically on regulatory compliance with blockchain technology and the federal securities laws, and in forming cryptocurrency investment funds.
For hedge funds, Marc’s broad experience advises on all aspects of a fund’s operation, from formation to regulatory compliance to unavoidable litigations. He is an invited participant with the Risk, Legal and Compliance Working Group of the North American Fund Administration Association.
- Marc and his team are acting as U.S. counsel for a global blockchain development and marketing business based in Canada.
- Marc and his team advised a public company’s special committee with respect to efforts by an activist hedge fund manager to achieve substantive changes within the company, including on strategic alternatives and a possible proxy contest.
- Marc is advising clients on structuring investment funds managing digital assets to comply with evolving SEC/FTC/FINCEN/CFTC/IRS issues on cryptocurrencies and initial coin offerings, building relationships with blockchain technology thought leaders and first movers.
- Marc represented the former chairman, CEO and founder of an energy company in a consolidated securities class action filed in Houston, alleging fraud arising from financial restatements and a secondary preferred stock offering. The case was successfully settled for under $6 million with no contribution by the client.
- Marc represented Russian hedge funds in a civil SEC injunctive action where parallel criminal proceedings were brought against Ukranian cyber hackers accused of improperly obtaining public company earnings at news wire services for insider trading use. Settled with no admissions or penalty.
- Marc successfully resolved an SEC investigation against clients from Canada and Hong Kong involving an alleged penny stock “pump and dump” scheme without admissions and a small penalty.
- Marc represented the broker’s assistant who became a star witness in a high-profile SEC and criminal insider trading investigation, securities class action and criminal trial of Martha Stewart. While Marc’s client purportedly tipped Stewart and initially misled authorities about the stock trades, his testimony played a crucial role in the convictions. Marc’s representation assisted in saving his client from prison.
- Wolters Kluwer (CCH) Securities Regulation Advisory Board (2010 to present)
- American Bar Association: Presidential Task Force on the Attorney-Client Privilege (2005 to 2009)
- New York State Bar: Presidential Task Force on the Attorney-Client Privilege (2005 to 2009)
- New York County Lawyers’ Association
- Board of Directors (2002 to 2005)
- Committee on Securities and Exchanges: Co-Chair (1997 to 2002)
Community : The Center for Arts Education, Board Member, Nominations Committee: Chair.
- J.D., Hofstra University School of Law, 1980
- B.B.A., University of Wisconsin-Madison, 1977, Finance, with honors
- U.S. Supreme Court, 2009
- U.S. Court of Appeals, Second Circuit, 2011
- U.S. Court of Appeals, District of Columbia Circuit, 2006
- U.S. Court of Appeals, Third Circuit, 2004
- U.S. District Court, Eastern District of New York, 1981
Rate : $$$