R. Daniel O'Connor
R. Daniel O’Connor focuses his practice on securities enforcement matters, internal investigations, related trial work and compliance consulting. A former SEC enforcement attorney and experienced trial lawyer, Dan works with corporations and individuals involved in civil and criminal government enforcement matters and represents entities in complex commercial disputes.
Dan also assists corporate management and directors in conducting internal investigations, addressing sensitive corporate governance issues, and establishing and evaluating regulatory compliance programs. Working with partners in the firm’s corporate and investment practice groups, he has particular expertise in evaluating and establishing anticorruption programs, resolving matters involving financial reporting and disclosure at public companies, and fiduciary and regulatory compliance issues at investment management groups.
Prior to re-joining Ropes & Gray in 2008, Dan was Senior Trial Counsel at the SEC where he handled prosecutions and investigations of corporate entities and individuals for civil and criminal violations of federal securities laws, including: various accounting and reporting fraud schemes, fraud by hedge funds and other investment advisers, FCPA issues, market manipulation, and broker-dealer fraud and failure to supervise.
- Carter’s Inc: Lead counsel representing a large public company clothing retailer in DOJ and SEC investigations related to the company’s reporting of margin support payments to wholesale customers in allegedly incorrect financial periods. Negotiated first ever Non-Prosecution Agreement with SEC wherein no enforcement action was taken against company in light of its cooperation with regulators.
- State Street Global Advisors: Lead counsel representing unregistered and registered investment advisers in SEC and state regulator investigations related to the use and disclosure of complex subprime asset backed securities in fixed income funds.
- Deputy Controller of Fortune 500 Public Company: Lead counsel of a team that successfully convinced SEC staff to withdraw Wells Notice and recommendation of an enforcement action related to revenue recognition issues associated with capital equipment sales.
- FCPA & OFAC Compliance: Evaluated and designed FCPA & OFAC compliance programs and related professional training programs for public companies, investment advisers, private equity firms, and private companies to address overseas investments, operations, and marketing activities.
- FCPA Enforcement: Represent public companies in ongoing SEC sweep inquiry related to relationships between issuers and sovereign wealth fund investors and associated third party intermediaries, as well as FCPA policies, procedures and associated compliance matters.
- Expert Networks: Represent expert network and associated investment adviser in ongoing SEC inquiry into operations of industry specific expert network.
- Insider Trading: Succeeded in helping private equity investment manager avoid enforcement action in connection with SEC investigation into trading around a public company merger.
- Hedge Fund Marketing & Trading: Represent hedge funds in SEC investigations into issues associated with performance and risk disclosures in marketing materials and trading practices involving alleged market manipulation, Rule 105 short sale issues, and insider trading.
- Life Sciences Company: Lead internal investigation into alleged disclosure issues associated with manufacturing deficiencies and FDA interactions and obtained successful termination of related SEC investigation with no enforcement action.
- R. Daniel O’Connor, Maria Carboni and Gina Riccio, “SEC Enforcement Focusing on Rule 105 of Regulation M,” The Harvard Law School Forum on Corporate Governance and Financial Regulation (November 2, 2013)
- Co-author, “Regulatory: Public company financial statements face increased scrutiny from the SEC,” Inside Counsel (September 18, 2013)
- R. Daniel O’Connor, Steven Goldschmidt and Daniel McCaughey, “Admitting Guilt: the SEC’s New Settlement Policy,” Fund Director Intelligence (September 2013)
- Quoted, "Nepotism: Is It a Crime? SEC Probe into J.P. Morgan's Hiring in China Shows Risks of Giving Jobs to the Well Connected," The Wall Street Journal (August 19, 2013)
- Quoted, "Don't Delay Tackling Problems, CCO's Told," Compliance Reporter (May 14, 2013)
- R. Daniel O’Connor, Kim B. Nemirow and Paul W. Boltz, Jr., "SEC’s Charges Against Chinese Affiliates Of U.S.-Based Accounting Firms Have Broad Implications," Bloomberg BNA Securities Regulation & Law Report (April 2013)
- R. Daniel O’Connor and Daniel V. McCaughey, "Standard Chartered and Anti-Money Laundering: Trends to Watch," BankDirector.com (November 2012)
- R. Daniel O'Connor, Asheesh Goel, Amanda Raad and Jessica Richheimer, "The Latest FCPA Target: Private Fund Advisers," Law360 (May 11, 2012)
- R. Daniel O'Connor, Richard D. Marshall, George B. Raine and Jacob E. Comer, "A Proactive And Analytical Approach To Enforcement," Law360 (December 2011)
- New Rules: Sovereign Fund Probe Awakens Financial Firms To Corruption Risk.; WSJ.com, (July 11, 2011)
- R. Daniel O’Connor, Zachary Brez, and Kelly O’Connell, “Dodd-Frank, Aiding-and-Abetting Scienter, and Principles of Fairness: Why the SEC Should Not be Allowed to Apply Section 20(e) Retroactively” BNA Securities Regulation & Law Report (July 2011)
- R. Daniel O’Connor, Richard Marshall, and Daniel McCaughey, “Khuzami on the ‘Epidemic of Perjury’,” Law360 (June 2011)
- R. Daniel O’Connor, Zachary Brez, and Joseph Cleemann, “Control Person Liability,” Bloomberg Law Reports – Securities Law (April 2011)
- R. Daniel O’Connor and Annmarie A. Tenn, “Officer & Director Bars in the Current Financial Crisis,” National Association of Corporate Director – Directors Monthly (February 12, 2009)
- R. Daniel O’Connor and Annmarie A. Tenn, “Bifurcated Settlements: A New Approach To O&D Bars,” Law360 (September 2008)
- Panelist, “Regulatory Update,” ACS Financial Accounting & Reporting Update Conference (June 2012)
- Presenter, “Navigating the FCPA “Resource Guide”: Enforcement Trends and Compliance Tips,” Ropes & Gray webinar (November 2012)
- Presenter, "What Every China-Based U.S.-Listed Company Needs to Know About U.S. SEC Enforcement Actions," Ropes & Gray webinar (June 2012)
- Panelist, “Securities Fraud 2012: Recent Developments in Enforcement and How SEC Administrative Trials May Alter the Landscape,” Boston Bar Association CLE Presentation (May 2012)
- Panelist, 7th Annual GAIM Ops Cayman Program (April 2012)
- Panelist, “Growing Role of Risk Management,” Thomson Reuters Conference (April 2012)
- Panelist, California Lawyer’s Biannual Rountable: White Collar Defense (January 2012)
- Presenter, “SEC Enforcement Trends for Public Company CFOs/Controllers”, Accounting Conferences and Seminars (June 2011)
- Presenter, “Responding to Government Subpoenas”, ABA Business Law Section's National Meeting (April 2011)
- Presenter, “Establishing Information Walls at Multifaceted Investment Firms”, Private Equity International's Compliance Conference (April 2011)