Mark S. Mandel

A former chief of the New York office of the U.S. Securities and Exchange Commission's Division of Broker-Dealer Enforcement, he has, in his over 20 years as a private practitioner, represented investment banks, corporations, investment advisers, hedge funds, and directors and officers in many high-profile matters, from SEC, DOJ, state attorneys general and self regulatory organization investigations to national securities class actions.

Mr. Mandel has consistently been involved in significant securities industry cases, including, among others: high frequency trading, the CDO investigations; structured and complex products investigations; the Squawk Box investigations; auction-rate securities; student loan investigations; options back-dating; NYSE and SEC specialist investigations; and the Salomon Brothers treasury bond investigation. Recent favorable results include obtaining a no enforcement action result on behalf of a major financial institution in the Squawk Box investigations, the dismissal with prejudice of a major international investment bank from a $140 million securities fraud suit arising from the aborted sale of a Polish telecommunications company; obtaining, on behalf of a large NYSE-listed REIT, a no-enforcement action letter from the SEC following an investigation of a restatement stemming from allegations by a former chief financial officer claiming whistleblower status; and obtaining the dismissal with prejudice of an NYSE-listed international telecom company in a securities fraud suit seeking $100 million in damages arising out of the sale of a Greek cellular phone company.

Recognition

In 2013, Mr. Mandel was named a BTI Client Service All-Star, an elite group of attorneys nominated solely and exclusively by clients in BTI's independent study as delivering the absolute best in client service. He is also recognized in The Legal 500.

Education

Mr. Mandel earned his J.D. from American University, Washington College of Law and graduated with a B.B.A from Hofstra University.

Admissions

Mr. Mandel is admitted to practice in New York.

Selected Representations

•Obtaining a no enforcement action result on behalf of a family of hedge funds in an SEC investigation concerning a purported NAV restatement and related fund mergers following the implementation of FAS 157
•Obtaining a no enforcement action result on behalf of a large international broker-dealer in connection with an investigation relating to certain trading by the firm's convertible desk
•Representing a major broker-dealer in investigations by the SEC and numerous states' attorneys' general concerning auction-rate securities
•Representing a major broker-dealer in investigations concerning market-linked CDs and complex products
•Representing a major broker-dealer in connection with investigations concerning the sale of non-traditional exchange-traded funds
•Representing a domestic and off-shore hedge fund in litigation threatened by a Cayman Islands court-appointed receiver
•Obtaining dismissal of Section 16(b) complaint in the EDNY on behalf of an investment adviser, investment manager and hedge fund
•Obtaining the dismissal with prejudice of a large retailer from a $100 million class-action securities fraud suit in connection with a bond tender offer
•Successfully defending a former student loan executive in investigations brought by the New York State Attorney General, the U.S. Senate, the House of Representatives, the Department of Education, and various state attorneys general concerning student-lending practices
•Obtaining the dismissal with prejudice of a major broker-dealer in a consumer class action alleging breach of fiduciary duty in connection with stock-lending practices
•Obtaining a no-enforcement action letter from the NASD (now FINRA) on behalf of a large broker-dealer in an investigation relating to “B” shares

Selected Publications and Presentations

•“High Frequency Trading,” Credit Suisse, December 9, 2013
•“Complex Products: Adapting to a Hostile Environment,” Market Regulation Series, September 19, 2013
•“Penalties, Short-Swing Profits, and Bounties,” Insider Trading Law and Compliance Answer Book (Practising Law Institute) 2011-2013
•“Insider Trading Law and the New SEC Enforcement Environment,” Deutsche Bank's Global Prime Finance Client Dinner, November 2009
•Preparing for SEC Examinations of Private Fund Advisers,” Schulte Roth & Zabel Investment Management Hot Topics, November 2009
•“Market Rumors, Short Selling and Current Regulatory Focus,” Schulte Roth & Zabel LLP Investment Management Topics, October 2008