Firm / Organisation

Murphy & McGonigle, P.C.

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This content is provided by Murphy & McGonigle, P.C..

Chairman: James A. Murphy
Number of partners: 37 Number of lawyers: 53
Languages: English, French, German, Mandarin Chinese, Spanish, Vietnamese

Firm Overview:
Murphy & McGonigle serves the litigation, enforcement defense, and regulatory counseling needs of clients across the full spectrum of the financial services industry – from national banks, broker-dealers, investment advisers, and hedge funds, to national and international securities markets and exchanges. Many of the firm’s partners formerly served in senior positions at the US Department of Justice, SEC, FINRA, CFTC, and the New York State Department of Financial Services, and several served in senior executive positions in major financial institutions on Wall Street. The firm’s singular focus is on the efficient delivery of high quality, cost-effective legal services. The litigation and enforcement practices are backed by an innovative electronic discovery and data management consulting practice, StraDIM. The firm operates in New York, Washington, DC and Richmond, Virginia.

Main Areas of Practice:  

Audit & Accounting
Commodities, Futures & Derivatives
Cybersecurity, Cybercrime & Incident Response
Discovery Counseling Services
Enforcement Defense & Government Investigations
Financial Services Advisory & Counseling
FinTech & Blockchain
Independent Monitoring & Independent Consulting
International Advisory
Independent Monitoring/Independent Consulting
Private Funds Advisory & Enforcement Defense
Securities & Complex Commercial Litigation
Securities Arbitration & Alternative Dispute
Trading & Markets Counseling
White Collar Defense, Investigations, & Compliance Counseling

Securities & Complex Commercial Litigation:
■Represented Freddie Mac’s former chief financial officer in three putative class actions alleging securities fraud under the 1934 Act. One action was dismissed. In the other two, we defeated the plaintiffs’ class certification motions
■Represented an independent market maker in successfully moving to dismiss 28 of 29 claims. The firm then successfully moved for summary judgment on the remaining 1933 Act claim for sale of unregistered securities
■Represented national securities exchanges in successfully moving to dismiss breach of contract claims arising out of the exchanges’ method of data dissemination. The dismissal was affirmed by the Second Circuit

Trading & Markets Counseling:
■Serving as counsel to a national market system plan comprised of multiple markets
■Serving as outside counsel to the Best Execution Committee of a large national broker-dealer
■Assisting multiple broker-dealers with SRO (including FINRA) examinations, investigations, and enforcement actions regarding complex financial responsibility issues
■Assisting multiple firms in qualifying as Alternative Trading Systems under Regulation ATS in the digital security space

Regulatory Enforcement Defense:
■Representing a former CEO in ongoing federal court litigation over revenue recognition
■Representing a securities trader in ongoing SEC federal court litigation charge recordkeeping violations
■Representing the controlling person of so-called global day trading funds in a FINRA settlement of ‘layering and spoofing’ charges
■Representing a major discount broker-dealer in an SEC investigation of differentiated product compensation and related matters

FinTech & Blockchain:
■Representing companies on the use of distributed ledger technology in the trading, clearance, and settlement of security-based swaps
■Representing a client on developing the legal and regulatory infrastructure to support a platform for trading digital securities
■Representing companies seeking to launch Security Token Offerings
■Representing companies for ongoing counsel on algo developments for clients For updates in blockchain and crypto assets, visit the firm’s Blockchain Law Center:

Commodities, Futures & Derivatives:
■Representing a swaps dealer in a joint DOJ and CFTC investigation into alleged manipulation of the ISDAfix rates benchmark
■Representing an international bank in connection with CFTC investigation relating to client fee reconciliations
■Representing a global quantitative trading firm setting up a swap dealer For updates in Commodities, Futures & Derivatives, visit the firm’s blog:

Investment Advisory:
■Representing RIAs evaluating whether to participate in the SEC’s Mutual Fund Share Class Selection Disclosure Initiative
■Representing four advisors transitioning from a wirehouse to an independent registered investment advisor in a breach of contract and fiduciary duty action. The firm defeated a TRO after a full-day evidentiary hearing following expedited briefing and discovery
■Represented a leading international partnership of independent, fiduciary wealth management firms

Cybersecurity, Cybercrime & Incident Response:
■Advising financial services firms with data privacy and data protection compliance
■Advising financial services firms and a major retailer in responding to data breaches
■Defending the chief technology officer of a brokerdealer in an SEC investigation concerning the company’s alleged failure to conduct a comprehensive investigation of a phishing attack

White Collar Defense, Investigations & Compliance Counseling:
■Representing financial services industry professionals and a financial services firm in multiple insider trading investigations, including civil charges brought by the SEC and a criminal indictment by a US Attorney’s Office
■Representing a financial services industry professional investigated for alleged improper payments to a state pension official
■Representing a large specialty medical practice group in a civil and criminal False Claims Act investigation relating to alleged Medicare billing fraud