Matt Solomon joined the firm as a partner after serving for 15 years as a white-collar prosecutor and unit chief with the U.S. Department of Justice and as a senior enforcement official with the U.S. Securities and Exchange Commission—most recently as the SEC’s Chief Litigation Counsel.

At Cleary, Matt represents U.S. and foreign financial institutions, public companies, asset managers, and individual executives and employees, on a broad range of issues and disputes spanning from regulatory compliance and remediation advice to advocacy and litigation against the government and private parties. Matt leverages his background and experience in all three branches of government to represent his clients’ interests before regulatory, congressional and criminal authorities, including matters before the SEC, DOJ, CFTC and State Attorneys General.

Before joining Cleary, Matt served as the SEC’s Deputy Chief Litigation Counsel in 2012, and was elevated to be the agency’s top litigator in 2013. As Chief Litigation Counsel, Matt led the SEC’s 150-attorney national trial unit and supervised the SEC’s litigated cases in federal court and administrative proceedings. Matt also regularly advised the commissioners on complex issues arising in settled and litigated cases.

Prior to the SEC, Matt served in several prominent positions over 10 years with the DOJ and on Capitol Hill, including as an Assistant U.S. Attorney and then Chief of the Fraud Unit for the 350-lawyer U.S. Attorney’s Office for the District of Columbia, Counsel to the Chairman of the Senate Judiciary Committee working on criminal and national securities issues, and an Honors Program trial attorney in the Criminal Division’s Public Integrity Section.

Matt has tried more than 20 criminal and civil cases to verdict, including as lead counsel in complex, white-collar jury trials in the District for the District of Columbia, the Northern District of California, the Eastern District of Kentucky and the District of Puerto Rico. He has also briefed and argued cases in the U.S. Court of Appeals for the D.C. Circuit, the First Circuit and the Seventh Circuit.

Notable Experience

Select Entity Investigations and Litigations

  • Nissan Motor Corp. in an SEC investigation and subsequent resolution in connection with former CEO Carlos Ghosn’s arrest and indictment in Japan

  • Deutsche Telekom and T-Mobile U.S. in a successful federal court trial in the SDNY defeating the efforts of 13 State Attorneys General to block a merger with Sprint.

  • OPKO Health, Inc., a publicly-traded healthcare company, in an SEC investigation, federal court litigation and subsequent resolution, and in connection with related federal derivative and class action litigation.

  • A global pharmaceutical company in connection with whistleblower allegations relating to potential accounting and disclosure issues.

  • Virtu Financial, Inc., a publicly-traded financial services company, in connection with several regulatory matters before the SEC and NYSE and in a subsequent SEC resolution.

  • The Audit Committee of a publicly-traded financial institution in connection with various controls issues.

  • Citibank, N.A., in connection with various regulatory investigations.

  • A private equity partnership, in connection with an SEC investigation and resolution in relation to compliance and disclosure issues.

  • Deutsche Bank, N.A. in multiple matters, including SEC and CFTC advocacy related to collateral consequences stemming from multiple civil and criminal resolutions.

  • Medytox Inc., a global pharmaceutical company, in Indiana state court litigation in connection with misappropriation of trade secrets allegations. 

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Select Individual Representations

  • A former CFO of a multi-billion-dollar hedge fund in connection with an SEC investigation into potential Adviser’s Act violations.

  • A CEO of a multi-billion-dollar fintech company in connection with an SEC investigation.

  • A partner at a Big Four accounting firm in connection with a PCAOB auditor independence inquiry.

  • A ranking U.S. Representative in connection with a federal public corruption investigation.

  • A procurement official of a global telecommunications company in connection with DOJ and SEC investigations into potential accounting fraud.

  • A former senior financial analyst at a Fortune 100 company in connection with an SEC investigation into potential accounting fraud.

  • The owner of a global hospitality company in connection with a federal public corruption trial.

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Select Compliance/Advisory Matters

  • Retained as an expert witness on the import of SEC administrative settlements in connection with a New York Supreme Court trial involving a dispute between hedge fund partners and their former fund.

  • Retained to train securities traders nationwide at a multi-billion-dollar hedge fund on civil and criminal insider trading laws.

  • Advised a Fortune 100 company in connection with redesigning its global compliance and investigative policies and procedures in multiple jurisdictions.

  • Advised a global financial institution on the efficacy of its information walls to guard against the improper use of material non-public information in securities transactions.

  • Conducted a privileged analysis of a multi-billion-dollar private equity fund’s fee and expense allocations between funds.

  • Advised a global hospitality company on its anti-corruption policies and procedures.

  • Advised multiple global financial institutions and investment advisers in connection with revisions to whistleblower and anti-retaliation policies and procedures.

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Selected Activities

Barrister, Edward Bennett Williams Inn of Court

Publications

Second Circuit: Criminal Fraud Statutes Do Not Require Prosecutors to Show that Tippers in Insider-Trading Cases Received a ‘Personal Benefit,’” (co-authored with David E. Brodsky, Lev L. Dassin, Victor L. Hou, Robin M. Bergen, and Jonathan S. Kolodner) Cleary Gottlieb Alert Memorandum, January 13, 2020

Headwinds and Shifting Priorities: Beyond the Numbers in the SEC Enforcement Division’s 2019 Annual Report,” (co-authored with Robin Bergen, Alexander Janghorbani, Jenny Paul, and Samuel H. Chang), November 11, 2019, republished by the NYU Compliance & Enforcement blog, November 12, 2019

Supreme Court to Consider Whether the SEC Has Authority to Seek Disgorgement in Federal Court Actions: Will the Court Further Prune the SEC’s Enforcement Powers?,” (co-authored with Robin Bergen, Jennifer Kennedy Park, Alexis Collins, and Alex Janghorbani, November 4, 2019, republished by Law360, November 6, 2019

SEC Brings Settled Action Against Mylan N.V. for Alleged Failure to Disclose Government Investigation,” (co-authored with Robin Bergen, Adam Fleisher, Rahul Mukhi and Alexander Janghorbani), October 8, 2019, republished by the Columbia Law School Blue Sky Blog, October 15, 2019 and Law360, October 17, 2019

Proposed Bad Actor Disqualification Act of 2019 Would Severely Limit the Availability of Waivers for Institutions Entering into Settlements with the SEC and DOJ,” (co-authored with Robin Bergen, Alexander Janghorbani, and Joon Kim), July 9, 2019; republished by Harvard Law School Forum on Corporate Governance and Financial Regulation, July 20, 2019

SEC’s Gladius Enforcement Shows That Cooperation Pays,” (co-authored with Pamela Marcogliese, Alex Janghorbani, and Jim Wintering) Law360 , March 12, 2019; republished by Harvard Law School Forum on Corporate Governance and Financial Regulation, March 14, 2019

Retail, Remedies, Resources and Results: Observations From the SEC Enforcement Division 2018 Annual Report,” (co-authored with Robin Bergen, Alexis Collins, Anne Hilby, and Adam Motiwala), Cleary Enforcement Watch blog, November 6, 2018; republished by the Harvard Law School Forum on Corporate Governance and Financial Regulation, November 24, 2018

The Tesla Settlement – What It Means for Other Companies,” (co-authored with Nicolas Graber and David Lopez) Harvard Law School Forum on Corporate Governance and Financial Regulation, November 14, 2018

Lorenzo v. SEC: Will the Supreme Court Further Curtail Rule 10b-5?” (co-authored with Roger Cooper and Les Silverman) Harvard Law School Forum Corporate Governance and Financial Regulation, July 30, 2018

Supreme Court Ruling on SEC-Appointed Judges,” (co-author with Alex Janghorbani), Harvard Law School Forum on Corporate Governance and Financial Regulation, July 16, 2018

Cleary Gottlieb Discusses SEC’s Latest Take on Digital Assets as Securities,” (co-author with Mike Krimminger, Pam Marcogliese and Zachary Baum), Columbia Law School Blue Sky Blog, June 21, 2018

Kokesh and Its Impact on SEC Enforcement, a Year Later,” (co-author with Alexander Janghorbani and Michael Heckmann), Law360, June 4, 2018

Failure to Disclose a Cybersecurity Breach” (co-author with Pam Marcogliese, Rahul Mukhi, and Kal Blassberger), Harvard Law School Forum on Corporate Governance and Financial Regulation, May 17, 2018 

The SEC Cyber Unit's First 6 Months, and What’s Ahead,” (co-author with Jonathan Kolodner, Rahul Mukhi, and Anne Titus Hilby), Law360, April 2, 2018

Pitfalls of Voluntary Remediation by Investment Firms,” (co-author with Robin Bergen, Adrian Rae Leipsic, and Alexis Collins), Law360, February 8, 2018

Supreme Court Grants Certiorari on the Constitutionality of SEC ALJ Appointments–What This Means for the Securities Industry,” (co-author with Alex Janghorbani and Richard R. Cipolla), Compliance & Enforcement blog from the Program on Corporate Compliance and Enforcement and New York University School of Law, January 24, 2018

Analysis of SEC Enforcement Division Annual Report,” (co-author with Robin Bergen and Alexis Collins), Harvard Law School Forum on Corporate Governance and Financial Regulation, December 6, 2017

Cleary Gottlieb Discusses Federal Spoofing Conviction,” (co-author with Lewis Liman and Jonathan Kolodner), The Columbia Law School Blue Sky Blog, August 16, 2017

Supreme Court Applies Five-Year Statute of Limitations to SEC Disgorgement Claims,” (co-author with Lewis Liman and Alexander Janghorbani), Harvard Law School Forum on Corporate Governance and Financial Regulation, June 7, 2017

Fate of the SEC In-House Court: Careful What You Wish For,” (co-author with Alexander Janghorbani and Richard Cipolla), Law360, May 23, 2017 

“Acting SEC Chair’s Steps to Centralize the Process of Issuing Formal Orders—Are Commentators Drawing the Right Lessons?” (co-author with Lisa Vicens), Harvard Law School Forum on Corporate Governance and Financial Regulation, March 13, 2017

“GC Whistleblowing And Other Implications From Bio-Rad,” Law360, February 28, 2017

 

 

Events

  • Cambridge Forum on White Collar Crime & Regulatory Enforcement, Co-Chair, Miami, FL, November 7-9, 2018
  • PLIs 19th Annual Private Equity Forum, Panelist, “Compliance and Enforcement: Focus on Private Equity Funds,” New York, NY, July 17, 2018
  • SIFMA Compliance and Legal Society Annual Seminar, Panelist, “Litigating Against the Government,” Orlando, FL, March 21, 2018
  • American Investment Council’s General Counsels Day, Washington, D.C., November 8, 2017
  • The Conference Board’s Governance Watch – Recent Whistleblower Issues Webcast, New York, NY, September 12, 2017
  • American Investment Council: Chief Compliance Officers Working Group Meeting, “Tax Issues and SEC Enforcement in a Post-Kokesh World” (Washington, D.C.), Panelist, June 28, 2017
  • Annual SEC/DOJ Enforcement 2017 Update, Panelist, June 2017
  • “Insider Trading - Practical Considerations in Prosecuting and Defending Cases After Salman” panel discussion, sponsored by the Broker-Dealer Regulation and SEC Enforcement Committee of the D.C. Bar Corporation, Finance and Securities Law Section, Washington, D.C., February 2017
  • U.S. Securities and Exchange Commission’s 26th Annual International Institute for Securities Market Development, Presenter, “Remedies and Sanctions for Securities Law Violations,” Washington, D.C., April 2016
  • SIFMA Compliance and Legal Society Annual Seminar, Panelist, “Handling a Regulatory Investigation,” Orlando, FL, March 2016
  • The SEC Speaks in 2016, Featured Speaker, “Enforcement” panel, Washington, D.C., February 2016
  • Foreign Corrupt Practices Act and International Anti-Corruption Developments (PLI), Panelist, “Litigating FCPA Cases,” New York, NY, May 2015
  • Edward Bennett Williams Inn of Court, Panelist, “Financial Crimes,” Washington, D.C., March 2015
  • The SEC Speaks in 2015, Featured Speaker, “Enforcement” panel, Washington, D.C., February 2015
  • Columbia Law School Securities Law Institute, Panelist, “Current Issues in Securities Regulation: The Hot Topics,” New York, NY, November 2014
  • 38th Annual Southwest Securities Conference, Panelist, “Summary of Significant Regulatory Litigation,” Dallas, TX, August 2014
  • District of Columbia Bar Association, Panelist, “Defending a White-Collar Criminal Case,” Washington, D.C., June 2014
  • Sandpiper Partners, LLC, Panelist, “Economic Crime in the Digital Age: Latest Developments in Fraud, Anti-Corruption and Cyber Crime,” Philadelphia, PA, May 2014
  • Federal Bar Counsel Securities Law Section, Executive Council, Featured Speaker, Washington, D.C., March 2014
  • The SEC Speaks in 2014, Featured Speaker, “Enforcement” panel, Washington, D.C., February 2014
  • Sandpiper Partners, LLC, Panelist, “Annual Securities Litigation and 2013 Update,” Washington, D.C., April 2013
  • O’Melveny & Myers LLP, Panelist, “Anti-Corruption Trends Impacting Companies Doing Business in India,” Washington, D.C., March 2013
  • Boston Bar Association, Panelist, “Foreign Corrupt Practices Act,” Boston, MA, February 2013