Mr. Riely’s work at the firm has included representing and advising corporations and individuals in compliance, criminal defense matters, government enforcement matters, internal investigations and litigations.  This includes working on matters relating to accounting fraud, the Federal Corrupt Practices Act (FCPA), the adequacy of public company disclosures, anti-money laundering, and insider trading.

In his 10 years at the SEC, Mr. Riely worked on a wide-range range of investigations and enforcement actions.  They include:

Cases Involving Investment Advisers: 

  • Insider trading action against hedge fund advisory firm, portfolio manager, and doctor involved in clinical trial.
  • Failure to supervise matter against hedge fund adviser’s owner and chief executive officer for failures relating to portfolio manager who participated in insider trading scheme;
  • Case against a portfolio manager and a hedge fund advisory firm for failure to supervise and failure to maintain adequate policies and procedures to prevent insider trading;
  • Case against hedge fund advisory firm for engaging in insider trading scheme and engaging in a separate fraudulent scheme to falsely inflate the value of securities held by the portfolios managed by the hedge fund advisory firm;
  • Case against portfolio manager of hedge fund advisory firm that participated in an insider trading scheme and valuation fraud;
  • Case against portfolio manager of hedge fund advisory firm that participated in valuation fraud; and
  • Case against an investment advisory firm and its owner for fraud based on a misleading press release announcing their offer to purchase a majority stake in retail bookseller.

Cases Involving Other Financial Services Firms:

  • Cases against broker-dealers for disclosure and regulatory failures relating to the operation and maintenance of their dark pools;
  • Case against a broker-dealer and chief anti-money laundering officer of broker-dealers for failures related to the execution of the firm’s anti-money laundering program;
  • Case against proprietary trading firm and one of its co-founders for engaging in a market manipulation scheme via a strategy known as “spoofing”;
  • Case against a broker-dealer for its violation of the market access rule in connection with a trading incident in which the firm sent thousands of mispriced options to the market; 
  • Case against a broker-dealer for improper securities lending practices in violation of the provisions of Regulation SHO;
  • Case against broker for participating in cherry picking scheme by fraudulently allocating winning trades to his own account and a disproportionate part of losing trades to client accounts; and
  • Action involving a foreign bank operating in the United States without registering as investment adviser or broker-dealer.

Cases Involving Corporate Issuers or Conduct of Employees of Corporate Issuers:

  • Case against Israeli-based company for violating internal controls and books and records provisions of Foreign Corrupt Practices Act;
  • Case against an issuer for disclosure failures in connection with the defense of a hostile tender offer;
  • Case against a former vice president of a major pharmaceutical company for insider trading;
  • Case against a financial analyst working at major pharmaceutical company and his former business school classmate for insider trading; and
  • Case against a director of statistical programming for a biopharmaceutical company for insider trading.