Financial Institutions and Banking

Regulatory Enforcement and Compliance

Regulatory Enforcement and Compliance

NERA economists assist clients in responding to formal investigations and requests for data and analyses from regulatory entities, such as the Division of Enforcement at the SEC, the DOJ, offices of State Attorneys General, and self-regulatory organizations such as FINRA. NERA's capabilities include the construction and analysis of large and complex transaction databases, analysis and implementation of computerized surveillance procedures, and preparation of summary materials responsive to regulators' requests. NERA's expertise in financial regulation enables us to support firms in all economic aspects of regulatory policy, including responding to market abuse investigations, defending enforcement actions, providing expert testimony, and quantifying regulatory impacts and risks. NERA's extensive experience with the analysis of damages and disgorgement measures aids clients in negotiating settlement agreements.

Recent examples of NERA's work in this area include:

  • Analyses of transactions on the behalf of financial firms in order to determine whether customer trades received best execution
  • Evaluation of loss and market-to-market procedures for securities containing subprime mortgages for a financial firm
  • Consulting work and expert testimony related to automated surveillance of specialists in national and regional stock exchanges
  • Consulting to financial institutions regarding compliance practices and response to regulatory orders
  • Construction and analysis of a complex database in response to market timing allegations in a mutual fund family
  • Comparative analysis of customers' experience in brokerage versus fee-based accounts in a regulatory matter

NERA also has extensive experience working with mutual fund families in their discussions with regulators. Our experts provide economic analysis to aid with the detection of market timing and late trading and the measurement of corresponding losses to mutual fund shareholders. In addition, our experts consult with mutual fund families on cases in which traders have sought damages from fund families as the result of the abrogation of contracts that allowed market timing.

In addition, NERA works with specialist firms involved in civil and criminal proceedings. Our experts have extensive experience analyzing data, reports, and algorithms used in automated surveillance of specialists' trading and exchange rules for equities and options.

Name Title Location Phone Email
Dr. Patrick Conroy Senior Managing Director Miami +1 305 341 5025 patrick.conroy@nera.com
Tomas Haug Senior Managing Director Berlin
Brussels
+49 30 700 1506 10
+32 2 282 4340
tomas.haug@nera.com
Dr. Vinita Juneja Senior Managing Director
Chair of NERA's White Collar, Investigations and Enforcement Practice
New York City
London
Toronto
+1 212 345 3148
+44 20 7659 8618
+1 416 868 7314
vinita.juneja@nera.com
Dr. Faten Sabry Senior Managing Director
Chair of NERA's Global Securities and Finance Practice
Bankruptcy Practice Chair
New York City
London
+1 212 345 3285
+44 20 7659 8618
faten.sabry@nera.com
Dr. Ling Ling Ang Managing Director Washington, DC
Chicago
+1 202 466 9259
+312 573 2827
lingling.ang@nera.com
Mark L. Berenblut Affiliated Consultant Toronto
New York City
London
+1 416 868 7311
+1 917 475 0020
+44 20 3769 1096
mark.berenblut.affiliate@nera.com
Dr. Sharon Brown-Hruska Affiliated Consultant Washington, DC +1 202 466 3510 sharon.hruska.affiliate@nera.com
Dr. Andrew Carron Affiliated Consultant New York City
London
+1 212 345 5407
+44 20 7659 8500
andrew.carron.affiliate@nera.com
Title Type Author
Recent Trends in Securities Class Action Litigation: H1 2023 Update Report Edward Flores and Svetlana Starykh
Snapshot of Recent Trends in Asbestos Litigation: 2022 Update White Paper Mary Elizabeth Stern and Lucy Allen
Trends in Canadian Securities Class Actions: 2021 Update White Paper Bradley A. Heys, Robert Patton, Jielei Mao
NERA Experts Contribute Chapter to "The Future of the Profit Split Method" Book Dr. Harlow Higginbotham and Dr. Vladimir Starkov
Trends in Canadian Securities Class Actions: 2020 Update Report Bradley A. Heys, Robert Patton, and Jielei Mao
Transfer Pricing Roundtable in Financier Worldwide. Expert QA Dr. Vladimir Starkov and Philip de Homont
Amount B: Facts and Circumstances Matter—Even for Routine Distributors Published Article Dr. Harlow Higinbotham, Dr. Niraja Srinivasan, and Dr. Vladimir Starkov
Recent Trends in Securities Class Action Litigation: 2020 Full-Year Review Report Janeen McIntosh and Svetlana Starykh
Recent Trends in Securities Class Action Litigation: H1 2020 Update Report Janeen McIntosh and Svetlana Starykh
Snapshot of Recent Trends in Asbestos Litigation: 2020 Update Report Mary Elizabeth C. Stern and Lucy P. Allen