DANIEL R. WALFISH
J.D., Yale Law School
B.S., Yale College
U.S. District Court for the Southern District of New York
U.S. District Court for the Eastern District of New York
U.S. Court of Appeals for the District of Columbia
U.S. Court of Appeals for the Federal Circuit
U.S. Supreme Court
Dan represents companies and individuals in litigation matters as well as investigations involving the Securities and Exchange Commission and other financial regulators. He also counsels clients on compliance with the securities laws.
Dan has a deep understanding of the federal securities laws along with the SEC’s process for enforcing them, and regularly writes and speaks on securities law and related issues. Dan’s experience inside and outside of government includes SEC and Commodity Futures Trading Commission proceedings involving a wide range of issues, including allegations of regulatory violations by registered investment advisers, “spoofing” and other forms of unlawful trading, violations of disclosure requirements under the 1933 Act, violations of the reporting and recordkeeping requirements under the 1934 Act, market manipulation, and insider trading.
Dan also has broad-based experience with complex business litigation, having handled a wide range of cases for clients appearing as plaintiffs and defendants in federal and state courts at the trial and appellate level in a variety of industries, including insurance, finance, transportation, hospitality, and entertainment. Dan’s experience includes counseling companies and individuals on employment matters.
From January 2010 to December 2014, Dan was with the Securities and Exchange Commission’s Enforcement Division in New York, where, as Senior Counsel, he litigated and investigated a number of notable cases, including the SEC’s first enforcement action against a “dark pool” alternative trading system (ATS) and a series of cases arising from the packaging and sale of collateralized debt obligations (CDOs) in the run-up to the financial crisis of 2008. Dan was a recipient of the agency’s Ferdinand Pecora Award for exceptional contributions to the Enforcement Division.
Before co-founding Walfish & Fissell, Dan practiced with the global law firm Milbank LLP. Earlier in his career he spent four years as an associate at one of Washington, D.C.’s most prominent and highly regarded boutique litigation firms.
Dan graduated from Yale Law School in 2004, where he was an editor of the Yale Law Journal, and then clerked for Judge Lewis A. Kaplan of the U.S. District Court for the Southern District of New York.
Selected Publications and Speaking Engagements
Remedies and Sanctions in SEC Enforcement Actions
Chapter co-authored by Daniel Walfish in Practising Law Institute’s SEC Compliance and Enforcement Answer Book (2020 edition), August 23, 2019
The Post-Lucia Executive Order on ALJs
NYU Compliance and Enforcement Blog, July 18, 2018
SEC Administrative Proceedings After Lucia
Law360, June 27, 2018
High Court Rules Appointments Process for SEC Judges Violated Constitution
Quoted in Wall Street Journal, June 21, 2018
If Lucia Wins On SEC Judges, What Comes Next?
Law360, April 20, 2018
The Trump Administration’s Move Against SEC Judges
Law360, Dec. 11, 2017
Other People’s Money: SEC Disgorgement After ‘Kokesh’
New York Law Journal, Sept. 8, 2017
What is Spoofing?
Panelist, Futures Industry Association Legal & Compliance Conference, May 5, 2016
The Law Surrounding Spoofing in the Derivatives and Securities Markets
Co-authored publication of Milbank, Tweed, Hadley & McCloy 2015-2016
The Real Problem with SEC Administrative Proceedings, and How to Fix It
Forbes.com, July 20, 2015