Key Takeaways
Insider Trading Lawyer for SEC & FINRA Investigations – Protect your reputation, your license, and your future. If you or your firm is facing questions about insider trading, early counsel is critical. Regulatory agencies—including the SEC, FINRA, and the Department of Justice—prioritize insider trading enforcement and aggressively pursue civil and criminal penalties.
Table of contents
As a seasoned securities attorney, I represent individuals, brokerage firms, RIAs, financial professionals, and corporate executives in insider trading investigations, enforcement actions, and compliance matters.
Why You Need Immediate Legal Counsel in Insider Trading Matters
Insider trading is one of the most misunderstood and broadly enforced areas of securities law. Regulators look for:
- Trading patterns that appear unusual
- Communications with friends, family, or colleagues
- Access to material non-public information
- Leaks, tips, and “shadow” information chains
- MNPI obtained through professional relationships
Even innocent or routine trades can trigger scrutiny if they occur near:
- Earnings announcements
- M&A activity
- Analyst upgrades/downgrades
- Regulatory decisions
- Litigation developments
- Clinical trial results
The sooner an attorney intervenes, the more options you have to contain risk.
Insider Trading Defense Services
SEC & DOJ Insider Trading Investigations
I guide clients through every stage of the investigative process:
- Subpoenas for testimony or documents
- OTR interviews
- Trading record review
- Wells notices
- SEC cooperation decisions
- Parallel criminal investigations
- FINRA Insider Trading Matters
For registered reps or brokerage personnel, I assist with:
- Document requests
- 8210 letters
- On-the-record testimony
- Firm reporting issues
- Employment and U4/U5 considerations
- Compliance Reviews & Preventive Counseling
I help firms implement and refine insider-trading compliance programs:
- MNPI protocols
- Restricted/watch lists
- Trade pre-clearance systems
- 10b5-1 plan oversight
- Training and documentation
- Policies for remote work and digital communication
What You Risk in an Insider Trading Case
Regulators can pursue both civil and criminal penalties. Consequences may include:
- Loss of employment
- Industry bars or suspensions
- Civil fines up to 3x profits gained
- Criminal fines up to $5 million
- Prison sentences of up to 20 years
- Reputational damage that can be permanent
- A proactive defense strategy is essential to mitigate exposure.
Why Clients Choose Our Firm.
My partners and I have been defending financial professionals and firms for decades. Between the three of us, we have over 100 years of defense experience. I have been defending Wall Street and individual investors for over 35 years, and was part of the team that defended the financial printer in the first civil use of the misappropriation theory of insider trading. I have also represented investors in dozens of insider trading investigations. My partners are former SEC Senior Staff Attorneys who prosecuted such cases and now defend financial professionals and investors.
We bring our experience and knowledge to every insider trading case:
- Experienced in High-Stakes Securities Matters
- Decades of experience in FINRA arbitration, SEC enforcement, and securities litigation.
- Deep Knowledge of Insider Trading Law
- Insight into the evolving case law that shapes MNPI and tipper-tippee liability.
- Strategic, Hands-On Guidance
- Your matter is not delegated. You get direct, personal representation from one of our partners
- Protective of Your Licenses and Career
- Every tactical decision considers long-term professional implications.
Schedule a Confidential Consultation
If you’ve received an inquiry from the SEC, FINRA, or your employer — or if you anticipate one — contact me immediately. Your best defense begins before the first phone call from regulators.
👉 Request a confidential consultation today 212-509-6544 or email mja@sallahlaw.com
 | Representing Advisors and Investors, Nationwide. |
- Securities Attorney
- Insider Trading – The Legal and Illegal
- Hire a Securities Defense Attorney to Respond to an SEC Subpoena
- SEC Proposes Amendments Regarding Rule 10b5-1 Insider Trading Plans and Related Disclosures
Mark Astarita is a nationally recognized securities attorney, who represents investors, financial professionals and firms in securities litigation, arbitration and regulatory matters, including SEC and FINRA investigations and enforcement proceedings.
He is a partner in the national securities law firm Sallah Astarita & Cox, LLC, and the founder of The Securities Law Home Page - SECLaw.com, which was one of the first legal topic sites on the Internet. It went online in 1995 and is updated daily with news, commentary and securities law related links.
