Michael A. Ungar focuses his practice on investigations and enforcement proceedings by the Division of Enforcement of the US Securities and Exchange Commission (SEC), federal criminal authorities, Financial Industry Regulatory Authority (FINRA), the Public Company Accounting Oversight Board (PCAOB), and state securities regulators and accounting boards. Michael also conducts internal investigations and provides guidance on securities compliance matters.
Michael has experience with enforcement matters involving investment advisors, broker-dealers, conduct by securities professionals (such as portfolio managers and chief compliance officers), financial fraud, accounting issues, corporate disclosure, the Foreign Corrupt Practices Act (FCPA), insider trading, market manipulation, short selling, ownership reporting, Section 5, and conduct by accountants and independent auditors.
Previously, Michael worked for more than 11 years in the Division of Enforcement of the SEC, including eight years as a branch chief. During his tenure at the SEC, Michael was responsible for a wide variety of enforcement matters in the SEC's major program areas. Notable enforcement matters included the first auditor independence action brought against a foreign audit firm, the first enforcement action under Sarbanes-Oxley's loan prohibition, and the first enforcement action brought under Regulation G (relating to non-generally accepted accounting principles (GAAP) financial results). Michael also conducted the investigation and litigated the ensuing enforcement action that resulted in a six-month suspension against an accounting firm accepting new audit clients.
Prior to joining the SEC, Michael was in private practice and represented clients in investigations by the SEC, federal prosecutors and the NYSE, securities arbitrations and commercial litigation.