Practice Area
SEC Enforcement & Securities Litigation
When the SEC enters life of an individual or company, the response in the first hours can determine everything. Khalil Kinchen defends individuals, executives, and companies at every stage of SEC enforcement and securities litigation-from the opening investigation to federal court and beyond.
Overview
The SEC is not just a regulator. It is a litigant.
The Securities and Exchange Commission wields two distinct enforcement tools: administrative proceedings before its own judges and civil litigation in federal court. Both carry severe consequences—disgorgement, civil penalties, officer and director bars, and reputational harm that can end careers. In serious cases, SEC civil referrals become DOJ criminal prosecutions. The agencies coordinate, share evidence, and move in parallel.
Khalil Kinchen represents individuals and businesses facing the full range of SEC enforcement actions and parallel criminal exposure. Our practice spans investigations, Wells Notice responses, administrative proceedings, federal court litigation, and parallel DOJ defense. The Wells Notice is not a formality—it is the critical opportunity to persuade the SEC Division of Enforcement not to recommend charges, and we treat every Wells submission as a primary advocacy document. What you say to SEC staff in the early stages of an investigation becomes a roadmap for prosecutors. We assess criminal referral risk from the first contact and coordinate civil and criminal defense strategy from day one. Many securities enforcement attorneys handle only the civil side. We handle both.
We have navigated the interplay between civil and criminal securities enforcement at the highest levels—for corporate executives, investment advisers, broker-dealers, public company officers and directors, financial professionals, and businesses operating in capital markets.
SEC Enforcement and Securities Litigation Services
Securities fraud and insider trading
Accounting fraud and financial statement manipulation
Investment adviser and broker-dealer violations
FCPA enforcement (SEC civil and DOJ criminal)
Cryptocurrency and digital asset enforcement
Public company disclosure violations
Parallel civil and criminal defense strategy
FINRA regulatory defense
Disgorgement and civil penalty litigation
How We Approach SEC Enforcement
Our Method
Early Engagement
& Parallel Coordination
The moment an SEC subpoena arrives—or before, if contact has been made—we engage. We assess criminal referral risk immediately, coordinate document preservation, and develop a strategy that accounts for parallel DOJ exposure from day one. What you say to SEC staff becomes a roadmap for prosecutors. We manage that risk with discipline.
Wells Notice Response
The Wells Notice is your opportunity to persuade the SEC Division of Enforcement not to recommend charges. A compelling, well-constructed Wells submission can result in declination, a reduced charge, or a more favorable settlement. We treat every Wells response as a critical advocacy document—not a formality.
Federal Court Litigation
When the SEC files in federal court, we are trial-ready. We have litigated securities enforcement cases and have the experience to contest liability, challenge damages theories, and cross-examine SEC experts. Our trial preparation begins at the investigation stage—not when the complaint is filed.
Administrative Proceedings Defense
When the SEC elects to proceed administratively, the stakes are real and the forum is the SEC's home court. We have experience defending clients before SEC Administrative Law Judges and on appeal to the full Commission. We challenge the procedural and substantive limits of the administrative process, including the constitutional questions that courts are still resolving.
Disgorgement &
Penalty Mitigation
Even when liability is established, the financial consequences are not fixed. We litigate disgorgement amounts, contest penalty calculations, and develop mitigation arguments that can dramatically reduce what our clients pay.
Negotiation &
Pre-Litigation Resolution
Many SEC matters resolve before the filing of a complaint. We negotiate directly with Enforcement staff and senior SEC officials to seek declinations, deferred prosecution arrangements, and consent decrees that protect our clients' ability to operate, lead companies, and participate in capital markets. We know what the SEC values in a settlement and use that knowledge strategically.
Parallel Criminal Defense
SEC enforcement and DOJ prosecution frequently run on parallel tracks. We coordinate civil and criminal defense strategy, assert Fifth Amendment rights where appropriate, manage document production to avoid criminal exposure, and communicate with both agencies when doing so advances the client's interests. Many securities enforcement attorneys handle only the civil side. We handle both.
Notable Client Outcomes
Track Record
No Charges Filed
Represented CFO of a multinational energy company in a two-agency investigation involving alleged FCPA violations and parallel SEC securities fraud theories. Secured declination from both agencies without charges or penalties.
FCPA / Securities Fraud Investigation
No Charges Filed
Federal Securities Fraud Investigation
Defended executive of national healthcare provider in a parallel SEC criminal investigation and related shareholder lawsuit. Client avoided criminal charges and achieved favorable resolution of the civil proceeding.
Successful Resolution
Energy Company General Counsel/Chief Financial Officer
Successfully handled parallel SEC civil action & DOJ indictment in Southern District of New York. Client also named in federal shareholder-derivative and class-action suits in Southern District of Texas.
Successful Resolution
SEC Civil Action - Oil Drilling Executive
Successfully navigated deposition of client by SEC and avoided any additional legal action by SEC.
Avoided SEC Action
CFO – National Food Distribution Company
Successfully defended executive charged in federal court in Southern District of Texas with violating the FCPA in Nigeria.
Avoided Charges
Securities Fraud — High-Level Executive
Defended a senior executive in a securities fraud investigation that resulted in criminal convictions against other executives at the same company. Client was never charged criminally.
Client Experience
What You Can Expect from Khalil Kinchen
Why Khalil Kinchen
Experience on both sides of the courtroom.
Securities enforcement defense is a specialty within a specialty. The attorneys at Khalil Kinchen have spent careers navigating the intersection of civil regulatory enforcement and federal criminal prosecution—the exact terrain where SEC matters become their most dangerous.
We have secured declinations in multi-agency investigations, won dismissals before trial, defended clients in parallel civil and criminal proceedings, and argued securities enforcement questions before the Fifth Circuit Court of Appeals. We bring that experience to bear from the moment you retain us.
Multi-Agency Coordination — SEC, DOJ, IRS, CFTC, and FERC experience across parallel proceedings
Fifth Circuit — Appellate experience including securities enforcement and FCPA victories
Trial-Ready — We prepare every matter for federal court from day one
Where We Go Deeper
Parallel Criminal Defense
Few securities enforcement firms have the criminal trial experience to defend clients when the DOJ enters the picture. We do. That capability is not a supplement to our SEC practice—it is central to it.
Cryptocurrency & Emerging Asset Enforcement
The SEC's enforcement posture toward digital assets, DeFi platforms, and cryptocurrency exchanges is aggressive and evolving. We monitor regulatory developments in real time and represent clients in this rapidly expanding enforcement environment.
Take The First Step
The SEC takes its time.
You should use yours wisely.
The period before formal charges, however long it lasts, is the most consequential window for advocacy — and the moment when having experienced counsel in your corner matters most.