Insider Trading Trends, Cases and Prosecutions in 2024

Attorney Benjamin Kinsley is the Chief of the Oakland Brand of the US Attorney's Office of the Northern District of California.

A co-leader of BakerHostetler’s Blockchain team, Teresa Goody Guill?n has a broad securities, litigation/investigations and corporate practice that includes representing businesses and individuals in securities enforcement and other government investigations and conducting investigations for corporate board committees and companies. She is a former litigation counsel for the U.S. Securities and Exchange Commission in its Office of the General Counsel, nationally regarded for the depth of her knowledge of the federal securities laws. Teresa also counsels on general corporate, securities and compliance issues, as well as capital raises under Regulations S, D, A and CF. Teresa’s experience includes emerging issues associated with blockchain, cryptocurrencies and digital assets, non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs), web 3.0, DeFi platforms and alternative trading systems (ATSs).

Teresa has extensive experience in representing private and public companies, financial institutions, investment managers, boards of directors, corporate officers and others in complex financial, disclosure and corporate governance matters. As a certified fraud examiner and holding an MBA, she brings her financial knowledge and business acumen to her investigations and defense strategies, as well as to her corporate practice. Clients often call on her combined business and legal background, along with her astute judgment and solutions-oriented, pragmatic approach. As a recognized leader in securities enforcement, regulatory compliance, corporate governance and crisis management, Teresa has appeared on CNBC, Fox Business Channel and Bloomberg, and she has been quoted in leading publications, including The Wall Street Journal, The Financial Times, Bloomberg Law and Law360. She is called upon to serve as an authority in court cases on corporate governance and fiduciary duties, and lectures at Georgetown McDonough School of Business on corporate governance, mitigating corporate risk and entrepreneurship. She also teaches "Digital Law and Policy" as an Adjunct Professor at Georgetown University, The Graduate School of Arts and Sciences. Teresa is a Cryptocurrency Tracing Certified Examiner (CTCE).

Christopher D. Frey, a former federal prosecutor, an experienced trial attorney, and a partner in the firm's San Francisco office, focuses his practice on white collar and regulatory defense, government and internal investigations, and high-stakes civil litigation.

Mr. Frey regularly advises major global companies and leading financial institutions, individual executives, and Boards of Directors in highly sensitive and confidential matters. He has amassed significant experience in the Foreign Corrupt Practices Act (FCPA), anti-money laundering, economic sanctions, and securities areas. Mr. Frey also routinely provides strategic counseling on compliance issues and crisis management.

Before joining Latham, Mr. Frey was a partner in the Tokyo office of another global law firm, where he advised clients based in Japan, South Korea, China, Taiwan, Singapore, and elsewhere in Asia. Mr. Frey also served as the head of that office for approximately two and a half years.

Earlier in his career, Mr. Frey served for over six and a half years as an Assistant US Attorney in the Criminal Division of the US Attorney’s Office for the Southern District of New York. As a member of the Securities & Commodities Fraud Task Force as well as the Complex Frauds and Cybercrime Unit, he investigated and prosecuted a wide array of complex white-collar matters, including FCPA violations, insider trading, accounting fraud, market manipulation, investment fraud, money laundering, intellectual property, cybercrimes, and criminal tax offenses.

During his tenure as a prosecutor, Mr. Frey was the lead trial lawyer in numerous jury trials, and he has substantial appellate experience, having briefed and/or argued over a dozen appeals before the US Court of Appeals for the Second Circuit. Mr. Frey is a recipient of the US Department of Justice’s John Marshall Award for Outstanding Legal Achievement.

From 2014 to 2015, Mr. Frey served as Associate Counsel in the Office of the White House Counsel under President Barack Obama. In that capacity, Mr. Frey helped develop and execute the White House’s response to various Congressional investigations and related hearings, and provided legal and strategic advice to White House staff and Executive Branch officials on compliance, oversight, and risk management issues.

Mr. Frey also maintains an active pro bono practice, which focuses on LGBTQ rights and the representation of indigent criminal defendants, among other matters.

Mr. Frey has previously served on both the New York City Bar Association’s Criminal Advocacy Committee and its Judiciary Committee, which reviews and evaluates all judicial candidates for the federal and state courts in New York City. Mr. Frey is currently a member of BALIF (the Bay Area’s LGBTQ Bar Association) and LeGal (the LGBT Bar Association of Greater New York).

Rahul Kohlhatkar is an Assistant Regional Director, Division of Enforcement, at the U.S. Securities and Exchange Commission.

Shannon represents corporations and individuals in complex disputes and litigation, internal corporate investigations and Securities and Exchange Commission investigations and actions. Shannon successfully defended a drug development company and its officers and directors in a victory that validated how many life science companies disclose clinical data to the public before the Ninth Circuit Court of Appeals. She also served on the trial team for the first defendant to obtain an acquittal in a stock-options backdating prosecution. Shannon has handled a wide variety of other complex litigation matters, including securities litigation, high-stakes licensing disputes, commercial contract litigation, corporate governance disputes and merger litigation. Her clients have included companies in the life sciences, hardware, software, semiconductor, food and public utility industries. Shannon serves as Northern California head of Cooley’s business litigation practice.
Shannon was a member of the Stanford Law Review and served as a law clerk for the Honorable Sarah Vance of the US District Court for the Eastern District of Louisiana from 2000 to 2001. Shannon has repeatedly been named a Northern California “Rising Star” by San Francisco Magazine and received Silicon Valley’s YWCA Tribute to Women Award.