White Collar, Investigations and Enforcement

NERA economists have extensive experience in applying quantitative economic analysis in white collar criminal investigations and litigation. Our expertise enables us to support firms in all economic aspects of white collar matters, including responding to market abuse investigations, defending enforcement actions, providing expert testimony, and quantifying regulatory impacts and risks.

We have assisted clients with matters involving:

  • Accounting fraud
  • Bid rigging
  • Broker fraud
  • Buyer cartels
  • Commodities trading
  • Criminal option backdating
  • Criminal price fixing
  • Customer and geographic allocation
  • Foreign Corrupt Practices Act (FCPA), UK Bribery Act, and other Anti-Corruption Enforcement
  • Health care/pharmaceutical-related fraud
  • Insider trading
  • Market manipulation
  • Ponzi schemes
  • Stock price manipulation, including "married puts"
  • Tax shelters
  • Trade allocation

We frequently 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. Our capabilities include the construction and analysis of large and complex transaction databases, analysis and implementation of computerized surveillance procedures, and preparation of summary materials in response to regulators' requests. NERA experts' analysis of damages and disgorgement measures aids clients in negotiating settlement agreements.

Our experts have also done extensive research into applying greater precision to calculating the financial benefits of bribery. We can assist clients facing issues arising under the Foreign Corrupt Practices Act (FCPA) and other anti-bribery and anti-corruption laws by offering a more sophisticated economic approach to determining the true "value" of an alleged bribe.

We have supported clients in matters covering a variety of products and services, including agricultural commodities and natural resources, capital equipment, transportation and fuel surcharges, industrial inputs, and consumer goods and services. We also have 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, NERA has worked 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
Lucy P. Allen Managing Director New York City +1 212 345 5913 lucy.allen@nera.com
Dr. Patrick Conroy Managing Director Miami
New York City
+305 341 5025
+1 212 345 1466
patrick.conroy@nera.com
Richard J. Eichmann Managing Director San Francisco
Los Angeles
+1 415 291 1033
+1 213 346 3009
richard.eichmann@nera.com
Bradley A. Heys Managing Director Toronto
New York City
+1 416 868 7312
+1 212 345 2691
brad.heys@nera.com
Dr. Graeme Hunter Managing Director New York City +1 212 345 7724 graeme.hunter@nera.com
Dr. Hiroaki Ishigaki Managing Director Tokyo +81 3 6871 7041 hiroaki.ishigaki@nera.com
Dr. Vinita Juneja 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 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. Ramsey Shehadeh Managing Director Washington, DC +1 212 345 6089 ramsey.shehadeh@nera.com
Adam Warren Managing Director Chicago +1 (312) 573-2821 adam.warren@nera.com
Jorge Baez Director Miami
New York City
Mexico City
+1 305 341 5060
+1 212 345 5753
+52 55 9628 7550
jorge.baez@nera.com
Dr. Stephanie Plancich Director New York City +1 212 345 7719 stephanie.plancich@nera.com
Dr. Chris Stomberg Director Washington, DC +1 202 466 9219 chris.stomberg@nera.com
Erin B. McHugh Associate Director London
New York City
+44 20 7659 8736
+1 212 345 2990
erin.mchugh@nera.com
Timothy McKenna Associate Director New York City +1 212 345 5503 timothy.mckenna@nera.com
Dr. Jordan Milev Associate Director New York City +1 212 345 5516 jordan.milev@nera.com
Yuko Saito Associate Director New York City
Tokyo
+1 212 345 1963
+81 3 3500 3378
yuko.saito@nera.com
Gary Napadov Senior Consultant Chicago +1 312 573 2850 gary.napadov@nera.com
Ivelina Velikova Senior Consultant New York City +1 212 345 1160 ivelina.velikova@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
Todd Morrison Affiliated Consultant Washington, DC +1 202 466 9213 todd.morrison.affiliate@nera.com
Title Type Author
Trends in Canadian Securities Class Actions: 2021 Update White Paper Bradley A. Heys, Robert Patton, Jielei Mao
Structured ETFs White Paper Timothy McKenna, Dr. Airat Chanyshev, and Cinnie Lin
Recent Trends in Securities Class Action Litigation: 2021 Full-Year Review Report Janeen McIntosh and Svetlana Starykh
Trends in Canadian Securities Class Actions: 2020 Update Report Bradley A. Heys, Robert Patton, and Jielei Mao
Recent Trends in Securities Class Action Litigation: 2020 Full-Year Review Report Janeen McIntosh and Svetlana Starykh
Trends in Regulatory Enforcement in UK Financial Markets: 2019/2020 Year-End Update Report Erin B. McHugh
Recent Trends in Securities Class Action Litigation: 2018 Full-Year Review Report Svetlana Starykh, , et al.
Recent Trends in Securities Class Action Litigation: H1 2018 Update Report Svetlana Starykh, et al.
Recent Trends in Virtual Currency Regulation, Enforcement, and Litigation White Paper Dr. Sharon Brown-Hruska, et. al.
Recent Trends in Securities Class Action Litigation: Q1 2018 Update Published Article By Stefan Boettrich and Svetlana Starykh