Nowell D. Bamberger’s practice focuses on cross-border complex contentious disputes matters, including litigation, complex investigations, and international arbitration.

His practice focuses on representation of multinational firms and individuals in criminal and regulatory investigations in the United States and the Asia/Pacific region, and related government and private civil litigation. His recent experience includes acting for major financial institutions, investment professionals, and issuers in internal investigations, criminal corruption and market manipulation investigations, and related class action litigation.

Nowell joined the firm in 2008 and became a partner in 2017. He has spent extended periods working from the firm’s offices in Hong Kong and London, and holds dual U.S. and Italian citizenship.

Notable Experience

Litigation

  • Lead U.S. counsel for Medytox Inc. in national litigation alleging misappropriation of trade secrets related to the manufacture and sale of botulinum toxins products in South Korea.

  • HSBC in U.S. antitrust and commodities class action litigation alleging the manipulation of benchmark interest rates in Australia and Singapore.

  • Samaraneftegaz in U.S. litigation concerning the enforcement of foreign arbitral awards.

  • Tomskneft in connection with Irish High Court litigation concerning the enforcement of foreign arbitral awards.

  • Foreign financial institutions in U.S. bankruptcy litigation related to the BVI liquidation of the Fairfield Sentry fund.

  • A foreign waste disposal firm in litigation regarding toxic waste disposal under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA).

  • Banc of America Securities LLC in litigation related to residential mortgage backed securities.

  • A foreign investment company subject to bankruptcy claims pursuant to the Securities Investor Protection Act related to its investment with Bernard L. Madoff Investment Securities LLC.

  • The Bank of New York Mellon and various subsidiaries in class action civil litigation and enforcement actions brought by the New York Attorney General and U.S. Department of Labor related to investments with the Ponzi scheme operated by Bernard L. Madoff Investment Securities LLC.

  • The Russian Federation in what is reported to be the largest-ever international arbitration by amount of damages sought (over $100 billion) in three parallel UNCITRAL arbitrations in The Hague involving expropriation claims under the Energy Charter Treaty brought by former majority shareholders of Yukos Oil Company.

  • OAO Samaraneftegaz in defense of lawsuit brought by Yukos Capital S.a.r.l. to enforce arbitral award in New York. Obtained stay pending parallel proceedings in Russia and then order granting discovery into validity of alleged arbitration agreement on which the award is based.

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Investigations

  • BHP Billiton and Vale in an investigation into of the collapse of the Fundão tailings dam in the Minas Gerais region of Brazil, reportedly the largest environmental disaster in the history of Brazil.

  • HSBC in parallel investigations in the U.S., U.K., Hong Kong and elsewhere concerning interest rate benchmark setting and the global foreign exchange markets.

  • A major financial institution in a global criminal investigations by the U.S. DOJ and other authorities into potential bribery and money laundering by Unaoil.

  • A major financial institution in a complex confidential investigation before Bank Negara Malaysia Berhad, the Malaysia central bank.

  • A major Japanese financial institution in an investigation concerning public corruption before the U.S. Securities & Exchange Commission.

  • A European financial institution in an internal investigation and before U.S. regulators in a matter related to swap curve marking.

  • A major European bank in an investigation concerning trading practices in the U.S. dollar swaps market.

  • A major financial institution in connection with regulatory investigations concerning LIBOR and other benchmark rates.

  • Various other investigations matters that remain confidential.

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Selected Activities

Comments and Articles Editor, Pacific Rim Law & Policy Journal, University of Washington School of Law

Publications

SCOTUS Case Sets Limits on Agency Deference,” co-author, Cleary Gottlieb Alert Memorandum, July 3, 2019

SEC and CFTC Chairs Sign Enhanced Multilateral Memorandum of Understanding Expanding Cross-Border Enforcement Cooperation,” Cleary Enforcement Watchblog post, June 3, 2019.

CFTC Division of Enforcement Releases First Public Enforcement Manual,” co-author, Cleary Gottlieb Alert Memorandum, May 13, 2019. 

CFTC Enforcement Division Issues New Advisory on Self-Reporting and Cooperation,” co-author, Cleary Enforcement Watch blog post, Marcy 15, 2019

CFTC Issues First Whistleblower Award Originating From Both a Related Action and a Company Outsider,” co-author, Cleary Enforcement Watch blog post, March 11, 2019; republished by Law360; republished by Harvard Law School Forum on Corporate Governance and Financial Regulation, March 26, 2019; republished by Law360, April 2, 2019 (with Jennifer Kennedy Park, Alex Janghorbani, and Jim Wintering)

U.S. Subpoena Fails to Secure the Production of Witness Statements and Disclosed Documents in English Proceedings,” co-author, Cleary Gottlieb Alert Memorandum, February 19, 2019

Court Holds That 5th Amendment Self-Incrimination Privilege Precludes Compelling Fingerprint or Facial Recognition Access to Digital Devices,” co-author, Cleary Enforcement Watch blog post, January 23, 2019.

First Ever Criminal Bank Secrecy Act Charge Brought Against U.S. Broker-Dealer,” co-author, Cleary Enforcement Watch blog post, January 7, 2019.

Virtual Currencies, Manipulation, Cooperation, and More: CFTC Enforcement Division’s 2018 Annual Report,” co-author, Cleary Enforcement Watch blog post, November 26, 2018; republished by New York University School of Law Compliance & Enforcement Blog, November 28, 2018.

Two Strikes and You’re Out: The Litvak Saga Comes to an End,” co-author, Cleary Enforcement Watch blog post, August 9, 2018

Government Moves to Voluntarily Dismiss Remaining Charge Against Jesse Litvak, Foregoing a Third Trial,” co-author, Cleary Enforcement Watch blog post, July 31, 2018

California District Court Holds That FIRREA’s 10-Year Statute of Limitations Reaches Risks Caused to Financial Institutions by Their Own Employees,” co-author, Cleary Enforcement Watch blog post, July 27, 2018; republished by The CLS Blue Sky Blog, July 31, 2018.

Second Circuit Holds That U.S. Law Firm Need Not Produce Foreign Client’s Documents Pursuant to 28 U.S.C. § 1782,” co-author, Cleary Gottlieb Alert Memorandum, July 17, 2018.

CFTC Announces Two Significant Awards by Whistleblower Program,” co-author, Cleary Enforcement Watch blog post, July 17, 2018

CFTC Chairman Announces Formal Cooperation Agreement With State Securities Agencies,” co-author, Cleary Enforcement Watch blog post, May 24, 2018

Second Circuit Again Reverses Fraud Conviction of RMBS Trader Litvak,” co-author, Cleary Enforcement Watch blog post, May 8, 2018

Canada Proposes New Deferred Prosecution Agreement Program,” co-author, Cleary Enforcement Watch blog post, April 12, 2018

CLOUD Act Establishes Framework To Access Overseas Stored Electronic Communications,” Cleary Gottlieb Alert Memorandum, April 4, 2018.

China’s New Anti-Corruption Authority And Related Developments,” co-author, Cleary Enforcement Watch blog post, April 4, 2018.

Recent CFTC Enforcement Actions: Spoofing and Virtual Currency Task Forces,” co-author, Cleary Enforcement Watch blog post, April 4, 2018.

DOJ Announces Expansion of Approach Encouraging Self Reporting and Cooperation,” co-author, Cleary Enforcement Watch blog post, March 5, 2018.

The New Italian Law on Whistleblowing Procedures and Its Impact on Compliance Programs,” co-author, Cleary Enforcement Watch blog post, February 26, 2018.

Supreme Court Clarifies the Scope of Dodd-Frank’s Whistleblower Protections,” co-author, Cleary Gottlieb Alert Memorandum, February 23, 2018.

Cross-Border Investigations: A Look Back on 2017, and Ahead to 2018,” co-author, Cleary Gottlieb Alert Memorandum, February 15, 2018.

‘Oral Downloads’ of Counsel Interviews Waived Attorney Work Product Protection from Disclosure,” co-author, Cleary Gottlieb Alert Memorandum, December 22, 2017.

Hong Kong SFC and HKMA Issue New Guidelines for Reducing and Mitigating Hacking Risks Associated with Internet Trading,” co-author, Cleary Gottlieb Alert Memorandum, November 11, 2017.

CFTC Announces New Enforcement Strategy Focused on Self Reporting,” co-author, Cleary Gottlieb Alert Memorandum, September 26, 2017.

CFTC’s Demanding New Cooperation Guidelines for Companies and Individuals,” Cleary Gottlieb Alert Memorandum,January 24, 2017; republished by Journal of Investment Compliance, August 2017

Cleary Gottlieb Analyzes Second Circuit Reversal of Rabobank Libor Convictions,” The CLS Blue Sky Blog, July 28, 2017.

CFTC Approves Amendments to Whistleblower Rules Including Significant Enhancements of its Anti-Retaliation Protections,” co-author, Cleary Gottlieb Alert Memorandum, May 25, 2017.

Events

  • Tiantong & Partners In-house Conferences, July 2019
  • University of Pennsylvania ALR Symposium - One Belt One Road: Global China Amid the Wave of Anti-Globalization?, February 2019
  • Innoxcell Asia Pacific Summit 2018, September 2018
  • In-House Congress Shenzhen, July 2018
  • Risk Management Issues for Chinese Enterprises Investing Abroad, Beijing, PRC, November 2017
  • Trump: Year One, The Administration’s Enforcement Priorities and Their Impact on Companies in Asia, Hong Kong, November 2017
  • Global Crisis Management: Legal Privilege in the Cross-Border Context, The Conference Board Governance Watch, New York, USA, July 2017
  • Navigating Cross Border Government Investigations and Prosecutions, ABA Global White Collar Crime Institute, São Paulo, Brazil, June 2017
  • Cross-Border Investigations: Navigating an Increasingly Challenging Landscape, Zurich, Switzerland, June 2017
  • The Basics of International Arbitration of Investment Disputes, Legal Capacity Building Program, sponsored by the Institute of Legal Practice and Development, Kigali, Rwanda, May 2013