Eva Ciko Carman


  • JD, Georgetown University Law Center, 1991; Editor, International Environmental Law Review
  • BA, summa cum laude, Boston College, 1988; Captain of BC’s Nationally Ranked Division One Varsity Soccer Team


  • New York
  • Crain’s New York Business “Notable Women in Law” (2020)
  • The Best Lawyers in America (2020-2021)
  • Chambers USA (2015-2020)
  • Legal 500 - Litigation (2015-2016)
  • Financial Times – Innovative Lawyers: Honored for excellence advising private equity clients advising on SEC rules and assessments (2015)
  • Burton Awards: Law360 Distinguished Legal Writing Award (2018)
  • Super Lawyers (2018-2019)

Eva Ciko Carman


Eva Carman is a managing partner of the New York office and co-head of the global Securities Enforcement practice. She is Chambers-ranked for “Nationwide, Securities: Regulation: Enforcement,” where she is recognized by clients as “extraordinarily knowledgeable,” “exceptionally smart” and “superb at what she does.”

She has 27 years of experience representing investment advisers and boards in connection with Securities and Exchange Commission examinations, investigations and litigated actions. Her focus is on investment company, private equity, hedge fund and credit fund defense. Her practice is nationwide. She has had recent cases in seven of the SEC's regional offices and the Washington office. Her high-profile successes include the dismissal of claims against one of the central figures in the credit crisis cases - the former head of Countrywide Home Loans. Her recent non-public successes include two rare mid-investigation dismissals of fee and expense investigations, and complete defense of a portfolio manager of a prominent hedge fund in an insider trading case. As a result of her years in the industry and track record of success, she is well-regarded by the most selective firms, who not only seek her counsel in investigations and litigated matters, but also for regulatory guidance on matters relating to insider trading, custody, anti-corruption, design and implementation of compliance programs intended to address complex and novel trading and business issues. She has also been tapped to conduct internal investigations, the most recent of which was of a commodities broker that was under investigation for complex issues associated with accounting disclosures. Throughout these matters, Eva has demonstrated the skills that make her a sought-after counselor and advocate: knowledge of the regulators, sensitivity to the nuances of working in a politically charged atmosphere, and a deep understanding of her clients' industry and businesses.


Because of the nature of her enforcement practice, many of Ms. Carman’s most successful matters are not public. A sampling of some of her public successes are as follows:

  • Lead defense counsel for both respondents in the Securities & Exchange Commission matter known as SEC v. Everest Capital LLC and Marko Dimitrijevic, File No. 3-19777 (April 30, 2020).
  • Lead counsel for a senior executive of Countrywide in the NY Funds securities class action. Successful in garnering one of only two dismissals at the summary judgment phase in that action. (Pappas v. Countrywide Financial Corporation)
  • Successfully defended a host of accounting professionals and audit firms in connection with SEC and CFTC investigations into issues associated with the audit of CFTC registrants. 
  • Won a trial victory in a Delaware Chancery Court resulting in a precedent-setting opinion relating to a dissident director’s efforts to take control of a company. (Gunther v. 5i Sciences
  • Defended hedge funds, portfolio managers and other investors in connection with a host of insider trading investigations and cases. 
  • Conducted FCPA diligence and investigations for companies with operations in Brazil, China, India, Russia and Europe. 
  • Defended the CEO of an insurance company in a criminal action alleging falsification of the accounting documents and performance figures used to launch an initial public offering of the insurance company. 
  • Represented the president of an investment adviser in connection with criminal claims that the investment adviser was running a Ponzi scheme with investor funds. 
  • Successfully defended a number of market-timing investigations by the SEC, the CFTC and the New York Attorney General.



  • Panelist, “A View From the Front: Practical Guidance Learned from Exams of Private Fund Advisers,” Chambers & Partners, Ropes & Gray and RSM co-hosted GC Seminar, New York (April 2016)
  • Presenter, “SEC enforcement actions against private equity firms – a view from the front lines,” Private Fund Compliance Forum 2016 (May 10, 2016)
  • Guest lecturer, Issues in SEC Enforcement Seminar -- NYU Law School, 2015
  • Presenter, National Society of Compliance Professionals Annual Conference, New York, June 2013
  • Presenter, “Private Equity Firms: Surviving the New World of SEC Regulation,” Ropes & Gray webcast, March 2012
  • Current Developments in Anti-Corruption Enforcement: What Every Transactional Lawyer and Business Litigator Should Know, presented to the Ropes & Gray Business Advisory Group
  • Panelist, SEC Enforcement Priorities and Initiatives, presented to the City Bar Counsel on Investment Management, 2012
  • Panelist, “From SEC Examinations to Enforcement Actions, Ascendant National Compliance Management Conference, 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, What Every In-House Hedge Fund Lawyer Needs to Know About the New SEC Enforcement Paradigm, webcast 2012
  • Presenter, “The New SEC Enforcement Paradigm and the Ethics of Internal Investigations,” 2011 Investment Management webcast
  • Presenter, “What Every Hedge Fund In House Counsel Needs To Know About the New SEC Enforcement Program and The Ethics of Internal Investigations,” 2011 Hedge Fund Counsel Event
  • Presenter, “The New SEC Enforcement and Investigation Paradigm,” 2010 NRS and Investment Adviser Association Investment Management Regulatory Compliance Conference
  • Presenter, “New SEC Enforcement Powers Over the Asset Management Industry,” 2010 Ascendant Investment Adviser Compliance Conference For Advisers and Managers
  • Presenter, “The Sinking Market’s Effect on Investment Funds: Litigation and Enforcement Issues Every Investment Fund Executive Should Know” “Hiding in Plain Sight: What the Madoff Scandal Means for the Future Regulation of Advisers,” Ropes & Gray webcast, February, 2009
  • Presenter, “SEC Enforcement Relating To Structured Products,” IM Industry Conference
  • Panelist, “Regulatory Focus On Unified Managed Accounts,” IM Industry Conference
  • Panel Chair, “Regulatory Enforcement Relating to Funds of Funds,” industry conference presentation
  • Presenter, “Dealing with the SEC: Enforcement Actions & Civil Litigation,” conducted seminars for securities professionals on topics relating to SEC enforcement actions
  • Presenter, “Discovery Strategy in Complex Litigation,” conducted seminar on complex litigation issues for members of the Theodore Roosevelt American Inn of Court
  • Presenter, “SEC Presence Exams – Issues for Private Equity Firms,” Ropes & Gray webcast, February 2013

Selected Media

  • "Chancery Court Rejects Books and Records Request," Elizabeth Bennett, Delaware Law Weekly, December 22, 2010 (Volume 13; Issue 51)
  • "Ropes & Gray Wins Unusual Chancery Court Ruling Barring Controversial Board Member from Access to Corporate Documents," David Bario, American Lawyer Litigation Daily, (November 29, 2010)
  • JD, Georgetown University Law Center, 1991; Editor, International Environmental Law Review
  • BA, summa cum laude, Boston College, 1988; Captain of BC’s Nationally Ranked Division One Varsity Soccer Team
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