Bruce M. Bettigole

Bruce M. Bettigole: Attorney with Eversheds Sutherland (US) LLP
  • Partner at Eversheds Sutherland (US) LLP (436 Attorneys)
  • 700 Sixth Street NW, Suite 700, Washington, DC 20001-3980
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Biography

Bruce Bettigole has more than 30 years’ experience as a securities enforcement lawyer and litigator, including 13 years in senior positions on the government/regulatory side. He has been lead trial counsel for the U.S. Securities and Exchange Commission (SEC) as Assistant Chief Litigation Counsel, Chief Counsel for NASD, now known as FINRA, Chief Counsel of NASD’s Criminal Prosecution Assistance Group, and Special Assistant United States Attorney for several U.S. Attorney’s offices. Bruce relies on his deep experience and insider’s knowledge of those agencies to represent clients involved in FINRA, SEC, Public Company Accounting Oversight Board (PCAOB), state securities commissions, and U.S. Department of Justice (DOJ) investigations and litigation, as well as in FINRA arbitrations and private securities class actions.

Bruce provides counsel across a broad spectrum of securities enforcement matters, including allegations of misrepresentations, omissions, accounting fraud, stock manipulation, insider trading, deficient policies and procedures, sales practices, supervision and other key issues. His clients include broker-dealers, investment advisors and their associated persons; major public corporations and their officers, directors and key management personnel; and audit partners at “Big Four” public accounting firms.

Bruce served as Director and Chief Counsel in NASD’s Enforcement Department from 2003 to 2004, where he supervised investigations and litigation. He was Chief Counsel of NASD’s Criminal Prosecution Assistance Group from its inception in 1998 until 2003, supervising the unit and assisting federal, state, and local prosecutors nationwide in criminal securities-related investigations and prosecutions. From 1991 to 1998, Bruce was Assistant Chief Litigation Counsel with the SEC. He also served as Special Assistant U.S. Attorney in New York, Florida, and Nevada, and was lead trial counsel for numerous securities fraud prosecutions.

Client Tools

•Crisis Response & Incident Investigation

Experience

“I have a unique combination of experiences-beginning with working for the SEC, FINRA and as a special assistant U.S. attorney and then working for years in private practice-so I have the benefit of substantial involvement with all the major players for what’s relevant and important for this practice.”

Experience

Served as nationwide counsel for an independent broker-dealer in a series of related regulatory matters, class actions and arbitrations concerning Regulation D offerings and other alternative investments.
Won partial summary judgment and a favorable settlement for the former executive of a public company in litigation against the SEC involving accusations of fraud related to a $1 billion reserve.
Convinced FINRA not to pursue any action against a major broker-dealer in an investigation of equity-indexed annuities.
Represented accounting firms and individual accountants in ancillary or standalone civil and criminal regulatory and enforcement proceedings before the SEC, DOJ and other governmental entities, as well as state and federal grand juries.

Publications

“Parallel proceedings involving the SEC, FINRA, state securities commissions and federal prosecutors are at an all-time high. More than ever, defense counsel need to be sensitive to these issues and comfortable dealing with all the relevant agencies.”

Legal Alerts

Legal Alert: Russian telecom giant to pay record-breaking penalty for FCPA violations (March 12, 2019)
On March 6, 2019, Mobile TeleSystems PJSC (MTS) consented to pay an $850 million sanction-the largest Foreign Corrupt Practices Act (FCPA) criminal penalty ever paid to the United States-and to a ...

Legal Alert: Proposed Regulation BI coverage of retirement investors (March 5, 2019)
There is some debate about the intended scope of proposed Regulation BI (Best Interest) coverage in the case of retirement investors.The SEC explicitly contemplated that the proposal would be ...

Legal Alert: The best interest standard under FINRA’s suitability rule (February 26, 2019)
In connection with the US Securities and Exchange Commission’s proposed Regulation Best Interest, the Financial Industry Regulatory Authority (FINRA) has asserted (with some case law support from the ...

Legal Alert: Broker-dealers selling annuities - preparing for the best interest standard under New York’s amended Insurance Regulation 187 (February 14, 2019)
Broker-dealers selling annuity products in New York will soon need to comply with New York's recently amended Insurance Regulation 187 ( Suitability and Best Interests in Life Insurance and Annuity ...

Legal Alert: The SEC’s litigation against a firm for allegedly inadequate disclosure of shareholder service fees and 12b-1 fees (January 28, 2019)
During the past several years, the US Securities and Exchange Commission (SEC) has settled more than a dozen cases where the SEC alleged (with the firms neither admitting nor denying the charges) ...

Legal Alert: The far reach of state law - Nevada proposes fiduciary duty regulations for broker-dealers and investment advisers (January 28, 2019)
Under Nevada law, financial planners owe a fiduciary duty to their clients.1 In accordance with this duty, a financial planner must disclose, at the time advice is given, any gain the financial ...

Legal Alert: The other shoe has dropped - The SEC follows up with firms that didn’t self-report under the share class initiative (December 12, 2018)
The Share Class InitiativeOn February 12, 2018, the Division of Enforcement of the US Securities and Exchange Commission (SEC) announced the Share Class Selection Disclosure Initiative ...

Legal Alert: US Department of Justice relaxes Yates Memorandum’s requirements for earning cooperation credit (December 3, 2018)
On November 29, 2018, the US Department of Justice (DOJ) modified prior guidance on individual liability for corporate misconduct by affording federal prosecutors discretion to focus on “individuals ...

Legal Alert: Ex-banker forfeits $43.7 million and pleads guilty to conspiracy to violate the FCPA and launder money (November 5, 2018)
A former banker has agreed to forfeit $43.7 million and has pled guilty to Foreign Corrupt Practices Act (FCPA) violations and money laundering in one of the largest individual FCPA enforcement cases ...

Legal Alert: The Department of Justice (DOJ) issues new guidance on choice of compliance monitors for FCPA and other criminal division cases (October 16, 2018)
On October 12, 2018, Brian Benczkowski, Assistant Attorney General for the Criminal Division of the United States Department of Justice (DOJ), announced1 the “Selection of Monitors in Criminal ...

Articles

Challenges to the SEC’s Enforcement Remedies (Fall 2017)
Partnering Perspectives
In June 2017, the US Supreme Court unanimously held in Kokesh v. Securities and Exchange Commission that disgorgement as a remedy in SEC civil injunctive actions is subject to the five-year statute ...

FINRA Continues to Step Up Focus on Senior Investors (June 27, 2017)
Law360
In April 2017, the Financial Industry Regulatory Authority’s (FINRA) National Adjudicatory Council (NAC) introduced new sanction guidelines that allow the NAC and FINRA staff to consider the ...

The Final Rule: DOL’s Expanded Definition of Investment Advice Fiduciary Under ERISA and Revised Complex of Exemptions (April 12, 2016)
Just less than a year since its proposal, and just more than six months after receiving thousands of pages of commentary, petitions and hearing testimony, the Department of Labor finalized its ...

2015 Amendments to the Federal Rules of Civil Procedure (November 24, 2015)
The Litigation Practice Group of Sutherland Asbill & Brennan LLP has published “2015 Amendments to the Federal Rules of Civil Procedure.” This publication reflects important changes to the Federal ...

What Does It Take to Make the SEC Happy? (October 27, 2014)
Law360
To ensure that broker-dealers (BDs) do not inadvertently facilitate an unlawful distribution of securities, the Securities and Exchange Commission has long required BDs to conduct a “reasonable ...

Novel Theory in Wyly Case Could Change SEC Disgorgement (October 20, 2014)
Law360
In a case against Dallas billionaires Sam Wyly and the estate of his late brother, Charles, Judge Shira Scheindlin of the U.S. District Court for the Southern District of New York agreed with the ...

Broker-Dealers’ Internal Investigations and Claims of Privilege Under FINRA Rule 4530 After ‘Halliburton’ (April 22, 2014)
Bloomberg BNA Securities Regulation & Law Report
The decision by the U.S. District Court for the United States ex rel. Barko v. Halliburton Co. held that a government contractor’s internal investigation of its employees’ wrongdoing is not protected ...

Alternative Investments: What Regulators Are After (June 19, 2013)
Law 360
Regulators continue to pursue investigations and enforcement actions involving alternative investments. In this recent article from Law360, Sutherland Partners Bruce Bettigole and Cheryl Haas and ...

Defending Clients in Financial Regulatory Authority Investigations - and - Defending Clients in Public Company Accounting Oversight Board Investigations (2011)
Defending Corporations and Individuals in Government Investigations, 2011 ed. and annual updates

Anti-Money Laundering Compliance: Regulators Focus on Manipulation (September-October 2009)
Reprinted with permission Practical Compliance & Risk Management for the Securities Industry

Newsletters

Eversheds Sutherland’s Securities Enforcement Global Update (Winter 2019)
Eversheds Sutherland has completed its Securities Enforcement Global Update for Winter 2019, highlighting newsworthy events, cases and sanctions from financial regulators in the United States and ...

Eversheds Sutherland’s Securities Enforcement Global Update (Fall 2018)
Eversheds Sutherland has completed its Securities Enforcement Global Update for Fall 2018, highlighting newsworthy events, cases and sanctions from financial regulators in the United States and ...

Eversheds Sutherland Corporate Crime and Investigations Global Newsletter (September 2018)
Eversheds Sutherland's quarterly Corporate Crime and Investigations Global Newsletter provides our clients and colleagues with updates from around the world. The newsletter aims to highlight ...

Eversheds Sutherland’s Securities Enforcement Global Update (Summer 2018)
Eversheds Sutherland has completed its Securities Enforcement Global Update for Summer 2018, highlighting newsworthy events, cases and sanctions from financial regulators in the United States and ...

Eversheds Sutherland’s Securities Enforcement Global Update (Winter 2018)
Eversheds Sutherland has completed its Securities Enforcement Global Update for Winter 2018, highlighting newsworthy events, cases and sanctions from financial regulators in the United States and ...

Eversheds Sutherland’s Securities Enforcement Global Update (Fall 2017)
Eversheds Sutherland has completed its Securities Enforcement Global Update for Fall 2017, highlighting newsworthy events, cases and sanctions from financial regulators in the United States and ...

Partnering Perspectives: Insights from Inside and Outside the Corporate Law Department (Fall 2017)
With the US poised to decrease regulation and the outcome of Brexit unknown, multinational institutions face a great deal of unpredictability in the regulatory landscape. We are pleased to present ...

Eversheds Sutherland’s Securities Enforcement Global Update (Summer 2017)
Eversheds Sutherland has completed its Securities Enforcement Global Update for Summer 2017, highlighting newsworthy events, cases, and sanctions from financial regulators in the United States and ...

Presentations

“The number one issue our clients face today is the ongoing saga of how to survive regulatory scrutiny and still manage to run their businesses.”

Presentations

Older Investors Summit 2017 (October 19, 2017)
Eversheds Sutherland (US) Partner Holly Smith moderates the panel, The View from Capitol Hill: The Senior$afe Act and Beyond and Eversheds Sutherland (US) Partner Bruce Bettigole moderates the ...

Roundtable Discussion: Final DOL ERISA Fiduciary Definition and Related Exemptions (May 4, 2016)
Sutherland hosts a roundtable on the “Final DOL ERISA Fiduciary Definition and Related Exemptions” on May 4, 2016, in Minneapolis, Minnesota. The program is an in-depth discussion regarding the U.S. ...

Webcast: Senior Investors (March 22, 2016)
ACA Compliance Group
Sutherland Partner Bruce Bettigole presents Senior Investors, a webcast hosted by the ACA Compliance Group on March 22, 2016.

Webcast: A Share vs. I Share Issues (March 22, 2016)
Sutherland Partner Bruce Bettigole presents A Share vs. I Share Issues, a webcast hosted by the ACA Compliance Group on March 22, 2016.

Discovery and Pre-Hearing Preparation (February 12, 2015)
FINRA Disciplinary Hearings Forum
Sutherland Partner Bruce Bettigole moderates the panel Discovery and Pre-Hearing Preparation at the FINRA Disciplinary Hearings Forum held February 12, 2015, at the SIFMA Conference Center in New ...

Developing Effective Compliance Programs (December 11, 2013)
Defending Corporations and Individuals in Government Investigations
Government enforcement agencies are investigating corporate conduct with unprecedented vigor and creating a regulatory environment that poses enormous risk to companies and their executives. ...

How to Investigate When You Are Being Investigated (September 21, 2013)
National Asian Pacific Bar Association Northeast Regional Conference (New York)

Fundamentals of Broker-Dealer Regulation 2010 (June 28, 2010)
Practising Law Institute
Sutherland Partners Clifford E. Kirsch and Bruce Bettigole are speaking at PLI’s program, Fundamentals of Broker-Dealer Regulation 2010, June 28, 2010, at the PLI New York Center in New York, New ...

News

In the News

S.D.N.Y. Judge Permits Novel Theory and Allows SEC to use Unpaid Taxes as Measure of Disgorgement in Securities Fraud Case (October 1, 2014)
Law.com
Sutherland’s legal alert, “S.D.N.Y. Judge Permits Novel Theory and Allows SEC to use Unpaid Taxes as Measure of Disgorgement in Securities Fraud Case,” was featured in Law.com.

Careful: Corporate credit card charges can kill a career (January 20, 2014)
InvestmentNews
Financial advisers should think twice when considering whether an expense, even a small-ticket item, really belongs on the corporate credit card. In this article in InvestmentNews, Sutherland partner ...

Press Releases

16 Eversheds Sutherland (US) Attorneys Named 2018 Washington DC Super Lawyers and Rising Stars (April 23, 2018)
WASHINGTON-Eversheds Sutherland (US) LLP is pleased to announce that 10 of its attorneys based in Washington DC have been selected as top attorneys in the District of Columbia by Super Lawyers . ...

Four Eversheds Sutherland Attorneys Named Lawyer of the Year; 80 Lawyers Recognized in 2018 Edition of The Best Lawyers in America (August 15, 2017)
Eversheds Sutherland is pleased to announce that four attorneys have been selected as “Lawyer of the Year” in their respective fields by The Best Lawyers in America, and 80 attorneys have been ...

Eversheds Sutherland 2016 Pro Bono Hours Add Up for Worthwhile Causes (July 31, 2017)
Eversheds Sutherland is pleased to announce that its attorneys spent more than 15,000 hours on 614 pro bono matters in 2016. The cases, which ranged from contract disputes to high-profile asylum ...

17 Eversheds Sutherland (US) Attorneys Named 2017 Washington DC Super Lawyers and Rising Stars (April 25, 2017)
WASHINGTON-Eversheds Sutherland (US) LLP is pleased to announce that 10 of the firm’s attorneys based in Washington DC have been selected as top attorneys in the District of Columbia by Super ...

Six Sutherland Attorneys Named Lawyer of the Year; 81 Lawyers Recognized in 2017 Edition of The Best Lawyers in America (August 15, 2016)
ATLANTA and WASHINGTON-Sutherland Asbill & Brennan LLP is pleased to announce that that six attorneys have been selected as “Lawyer of the Year” in their respective fields by The Best Lawyers in ...

20 Sutherland Attorneys Named 2016 Washington DC Super Lawyers and Rising Stars (April 21, 2016)
WASHINGTON-Sutherland Asbill & Brennan LLP is pleased to announce that 13 of the firm’s attorneys based in Washington DC have been selected as top attorneys in the District of Columbia by Super ...

Five Sutherland Partners Named “Lawyer of the Year” 82 Lawyers Recognized in 2016 Edition of The Best Lawyers in America (August 17, 2015)
ATLANTA and WASHINGTON-Sutherland Asbill & Brennan LLP is pleased to announce that five partners have been selected as “Lawyer of the Year in their respective fields by The Best Lawyers in America, ...

23 Sutherland Attorneys Named 2015 Washington, DC, Super Lawyers and Rising Stars (April 23, 2015)
WASHINGTON (April 23, 2015)-Sutherland Asbill & Brennan LLP today announced that 19 of the firm’s attorneys based in Washington, DC, have been selected as top attorneys in the state by Super ...

Three Sutherland Partners Named “Lawyer of the Year,” 83 Lawyers Recognized in 2015 Edition of The Best Lawyers in America (November 3, 2014)
ATLANTA and WASHINGTON-Sutherland Asbill & Brennan LLP is pleased to announce that three partners have been selected as “Lawyer of the Year in their respective fields by The Best Lawyers in America, ...

26 Sutherland Attorneys Named 2014 Washington, DC, Super Lawyers and Rising Stars (May 9, 2014)
WASHINGTON - Sutherland Asbill & Brennan LLP today announced that 20 of the firm’s attorneys based in Washington, DC, have been selected as top attorneys in the state by Super Lawyers. ...

Awards and Rankings

Named to The Best Lawyers in America in the areas of administrative/regulatory law, securities regulation and litigation - securities law (2007-2019)

Selected for inclusion in Washington, D.C., Super Lawyers (2013-2018)

President’s Award - NASD (2002)

Eastern District of New York, U.S. Attorney’s Office for assistance in prosecution of Hanover Sterling defendants (2001)

Southern District of New York, U.S. Attorney’s Office for assistance in prosecution of Gordon Hall and Melvin Lloyd Richards (2000)

District of Nevada, U.S. Customs and U.S. Treasury for prosecution of Teletek, Inc. defendants (1999)

Areas of Practice (15)

  • Securities Enforcement & Litigation
  • Financial Services Litigation
  • Internal Investigations
  • Corporate Crime and Investigations
  • Broker-Dealer
  • Investment Adviser
  • Director & Officer Liability
  • Class Action Defense
  • Financial Services
  • Professional Liability
  • Alternative Dispute Resolution
  • Insurance
  • Litigation
  • Crisis Management
  • Securities Fraud Class Action

Education & Credentials

Contact Information:
202.383.0165  Phone
www.eversheds-sutherland.com
University Attended:
Yale University, B.A., cum laude
Law School Attended:
Columbia Law School, J.D., Harlan Fiske Stone Scholar
Year of First Admission:
1981
Admission:
U.S. Court of Appeals for the Fourth Circuit; New Jersey; District of Columbia
Memberships:

Professional Activities

Member, American Bar Association
Member, Securities Industry and Financial Markets Association (SIFMA) Compliance and Legal Society

Birth Information:
1956
ISLN:
909046987

Peer Reviews

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*Peer Reviews provided before April 15, 2008 are not displayed.

Documents (46)

Documents by this lawyer on Martindale.com

Washington, District of Columbia

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