Jenner & Block

"'Supercharging' the Martin Act: The Schneiderman Wall Street Agenda," Bloomberg Law Reports - Securities Law

In this article, Jenner & Block Partner Peter B. Pope makes several predictions about the enforcement agenda of the next “Sheriff of Wall Street,” New York’s Attorney General-elect Eric Schneiderman.  Noting that New York voters have given Mr. Schneiderman “the keys to what may be the most powerful securities regulation law ever written – New York State’s Martin Act,” Mr. Pope forecasts that the new Attorney General will be an aggressive enforcer, working to “assure a level playing field for investors,” and taking on other financial product areas such as credit and insurance.  He expects that the Attorney General’s office will look closely at forthcoming federal fiduciary duty rules to enhance the power of the Martin Act. 
 
At the same time, Mr. Pope writes that the Schneiderman regime will likely “see a better working relationship” with the enforcement staff of the SEC than existed under the prior Attorney General, which “should restore a level of fairness to targets and witnesses that has simply been missing in the past few years,” and that the new Attorney General, who understands how vital the financial industry is to New York’s tax base, will be focused on keeping the  industry in New York.

Mr. Pope is a partner in the Firm’s Litigation Department and a member of the White Collar Defense and Investigations Practice.  A seasoned civil and criminal litigator with a unique blend of public and private sector experience, Mr. Pope focuses on the representation of individuals and entities as defendants, targets, subjects or witnesses in criminal and regulatory investigations and proceedings; conducting internal investigations; and litigating civil actions.  He is a former Deputy Attorney General in charge, Criminal Division, of the New York State Attorney General’s Office and former Special Counsel to the New York State Attorney General.  From 2007-2008, Mr. Pope served as the Director of Policy for New York Governors Eliot Spitzer and David Paterson.