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Robert  Long
Biography

Robert Long previously served as a senior attorney at the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), as well as a federal prosecutor with the U.S. Department of Justice (DOJ). As a result, Rob is uniquely qualified to defend regulatory and white collar investigations and prosecutions; advise corporations, hedge funds, broker-dealers, investment advisers, and other market participants on compliance and regulatory matters; and conduct internal investigations.


SEC Attorney Experience

Rob spent over ten years at the SEC in various capacities—Trial Attorney, Branch Chief, Senior Counsel, and Staff Attorney. In the SEC’s Division of Enforcement, Rob spearheaded enforcement litigation in federal courts and administrative proceedings, and directed/conducted complex investigations that resulted in significant enforcement actions, including halting a $160 million Ponzi scheme, charging a Fortune 500 company with FCPA violations, charging a Fortune 1000 company with accounting fraud, and prosecuting multiple insider trading cases and sophisticated market manipulation schemes. Rob also served in the SEC’s Division of Market Regulation (now the Division of Trading and Markets) where he reviewed market rules and analyzed market structure issues. While at the SEC, Rob served in the SEC's Fort Worth and Washington, DC offices.

FINRA Attorney Experience

As a Senior Regional Counsel in FINRA’s Department of Enforcement in Dallas, Rob investigated violations of FINRA, SEC, and Municipal Securities Rulemaking Board (MSRB) rules, and the federal securities laws. Rob successfully led enforcement cases involving high-frequency trading, complex products, inadequate anti-money laundering (AML) compliance programs, due diligence violations, supervision failures, misrepresentations in oil and gas offering materials, unsuitable recommendations, net capital violations, and broker misconduct.

DOJ Attorney Experience

Rob is also a former federal prosecutor. As an Assistant U.S. Attorney (AUSA) for the District of Arizona, and as a Special AUSA for the Northern District of Texas, Rob worked closely with various law enforcement agencies, such as the Federal Bureau of Investigation (FBI), Internal Revenue Service (IRS), U.S. Secret Service, and Postal Inspection Service, to prosecute high-profile white collar and public integrity cases. His cases included a 12 defendant mortgage and loan fraud scheme, a “politically sensitive” case of “extreme importance,” and an oil and gas offering fraud scheme that was included in The President’s Financial Fraud Enforcement Task Force. As a former federal prosecutor, Rob is versed in overt and covert investigative tactics.

Defense Attorney, Compliance Counsel, and Investigation Attorney

Since entering private practice, Rob has focused on:

  • Defending matters involving the SEC, FINRA, DOJ, FBI, Commodity Futures Trading Commission (CFTC), National Futures Association (NFA), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Trade Commission (FTC), Public Company Accounting Oversight Board (PCAOB), Financial Crime Enforcement Network (FinCEN), and state regulatory agencies, such as the Texas State Securities Board (TSSB).
  • Advising companies, broker-dealers, investment advisers, investment companies, and other market participants on compliance issues.
  • Conducting internal investigations for companies and coordinating referrals to law enforcement agencies.
  • Representing whistleblowers in connection with SEC matters.
  • Advising companies on responding to cyber security breaches.

Education

  • J.D., Catholic University of America, Columbus School of Law, 1998
  • B.S., Arizona State University, 1995
Representative Matters - Private Practice
  • Defended accounting firm and its executives in parallel SEC and PCAOB investigations.
  • Defended Corporate Counsel and Secretary of public company in SEC investigation.
  • Advise London-based brokerage firm on U.S. regulatory and compliance matters.
  • Defended in-house attorney of oil and gas company in SEC investigation.
  • Defended dually registered broker-dealer and investment adviser in parallel investigations by the SEC, FINRA, and TSSB.
  • Conducted internal investigation at multinational company into cyber security matter.
  • Defending telecommunications executive in “tipper-tippee” insider trading investigations by the SEC and DOJ.
  • Advised international company on responding to phishing incident and prepared referral to FBI and IRS.
  • Defended FOREX trader for commodity pool in CFTC investigation.
  • Advise broker-dealer affiliated with $20 billion fund complex on regulatory and compliance matters.
  • Defended individual in tax case initiated by The Attorney General of Texas.
  • Defended various broker-dealers in FINRA examinations and investigations involving, among other things, possible AML, net capital, OATS reporting, markup, supervision, and commission sharing violations.
  • Defended numerous registered representatives in FINRA investigations alleging, among other things, failures to supervise, violations of Regulation S-P, selling away, undisclosed outside business activities, and failures to update Form U4.
  • Defended company executive in FBI inquiry into certain financial transactions.
  • Conducted internal investigation into control and reporting issues at broker-dealer.
Representative Matters - Prosecuted

SEC Attorney Cases
  • Multiple insider trading cases, including actions against off shore traders, a banking and derivatives lawyer, an executive of a petroleum transportation and storage company, and an oil purchasing manager.
  • Fortune 1000 company charged with earnings management and accounting fraud.
  • High-speed broker-dealer sanctioned for effecting 772 short sales in financial stocks in violation of SEC short selling ban. 
  • Emergency actions halting $160 million affinity fraud scheme and $100 million Ponzi scheme.
  • Fortune 500 company sanctioned for violating the FCPA. 
  • Broker and his fund management company charged with running an $8 million oil and gas investment fraud. 
  • Investment adviser and its CEO charged with operating a fraud scheme that utilized a sales force that included former NFL players.  
  • Former broker charged with running a $930,000 stock scalping scheme (the illegal practice of recommending that others purchase a security, while secretly selling the same security). 
  • Market manipulation cases involving spoofing (a scheme used to obtain improper price improvements on stock trades).
FINRA Attorney Cases
  • Broker-dealer fined $200,000 for failing to implement an adequate AML program, participating in the unlawful distribution of unregistered securities, and failing to tailor its supervisory procedures to its business, which included providing direct market access (DMA) to high-frequency traders.
  • Firm sanctioned for failing to establish an adequate supervisory system and written supervisory procedures governing its sales of certain complex, structured products.
  • Broker-dealer expelled for selling $23 million in private placement offerings without conducting a reasonable investigation of the issuers and securities being sold and, therefore, not having a reasonable basis to believe the offerings were suitable for its customers.

DOJ Attorney Cases

  • President of an oil and gas company convicted and sentenced to 20 years in prison for running a fraud scheme.
  • 12 defendants indicted for operating an $8 million loan fraud ring in three states; charges included conspiracy, loan fraud, mail fraud, wire fraud, money laundering, social security fraud, aggravated identity theft, and false statements.  In a front page Arizona Republic article, the U.S. Attorney stated: "This was a brazen scheme. To shut it down, a top-notch team was assembled. The result is a significant indictment...."
  • Company and its President convicted of defrauding the Department of Agriculture's mad cow disease surveillance program.
Noteworthy
  • Recipient of two SEC, Division of Enforcement, Director’s Awards
  • SEC, Chairman’s Award for Excellence
  • Ultimate Investor Advocate Award
  • Gold Medal, President’s Council on Year 2000 Conversion
In the Media / Presentations
  • Quoted, Ransomware Attack: OCIE Urges Asset Managers to Take Preventive Measures, ACA Insight, May 22, 2017.
  • Quoted, Advisory Firm President Gets Home Detention for Obstructing SEC Investigation, ACA Insight, May 1, 2017.
  • Quoted, Danielle Verbrigghe and Billy Nauman, JP Morgan Leads FINRA Bars After String of Theft Allegations, FUNDfire - A Financial Times Service, April 27, 2017.
  • Quoted, Expect Clayton to Cast Critical Eye on Regulations, ACA Insight, April, 3, 2017.
  • Quoted, Danielle Verbrigghe and Bill Nauman, Criminal Brokers Slip Through Cracks in Self-Reporting System, FUNDfire - A Financial Times Service, March 16, 2017.
  • Quoted, New SEC Already Here as Piwowar and White House Make Changes, ACA Insight, March 6, 2017
  • Quoted, Lauren McGaughy, Beating Civil Charges Will Help AG Ken Paxton in Court of Public Opinion, The Dallas Morning News, March 5, 2017
  • Quoted, 10 Advisory Firms Learn the Meaning of Pay-to-Play, ACA Insight, February 6, 2017
  • Quoted, Examination Findings Led to Court Actions Against Platinum’s Founder, ACA Insight, January 30, 2017
  • Quoted, Clayton as SEC Chair Likely to Focus on Dealmaking, Non-Regulatory Agenda, ACA Insight, January 9, 2017
  • Quoted, MJW: The SEC Needs More Powerful Enforcement Tools, ACA Insight, December 5, 2016
  • Quoted, How to Give Testimony in an SEC Investigation: Preparation is Key, ACA Insight, November 14, 2016
  • Speaker, FINRA Dallas District Compliance Conference, Enforcement Developments, September 3, 2013
  • Speaker, FINRA Dallas District Compliance Conference, Exam Priorities, March 15, 2012
  • Speaker, FINRA Dallas District Compliance Conference, Current Regulatory Issues, September 27, 2011
  • Moderator, 35th Annual Southwest Securities Conference, Interviewing Techniques, August 26, 2011
  • Referenced, Paul Berkowitz, The Case of the Indian Trader: Billy Malone and the National Park Service Investigation at Hubbell Trading Post, 2011