Securities Accounting & Regulatory Enforcement | FTI Consulting
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Securities, Accounting & Regulatory Enforcement

In the global economy, clients are facing increasingly complex regulatory and legal challenges. The goal is to minimize the impact of these challenges on the client organization or to turn them into opportunities. FTI Consulting has extensive experience in a wide range of regulatory actions and litigation matters involving securities, accounting and enforcement cases. Our professionals are skilled at helping client management successfully address their challenges.

Our Service Offerings

Class Actions

  • Class certification-related analyses (e.g. commonality, class conflicts)
  • Event studies, price impacts and market efficiency
  • Assessment of loss causation, materiality and assessment of economic damages for class members

We have extensive experience analyzing and testifying in class actions related to securities, employment (discrimination, wage and hour), ERISA, TCPA, consumer fraud and deceptive advertising. Our experts have significant econometric and statistical expertise and extensive experience performing event studies and adverse impact analyses and assessing conjoint analyses and hedonic regressions.

Investigations and Regulatory Enforcement

  • Sales practices
  • Whistleblower claims
  • Anti-money laundering
  • Technical accounting and financial restatements
  • SEC/DOJ inquiries, subpoenas and Wells notices
  • Anti-trust government investigations
  • Big data mining and analytics
  • Structured and unstructured data review
  • White collar defense

FTI Consulting has been engaged in some of the largest and most visible investigations in recent years, including the Madoff investigation and the Wells Fargo account scandal. We have the capability to respond rapidly, manage and analyze large and varied data sets, conduct interviews, and prepare credible analyses and presentations.

Our professionals, including former regulators as well as seasoned accounting and industry experts, routinely present our analyses to the SEC, DOJ, company boards, the CFTC, and the PCAOB. Our clients include 53 of the Fortune 100 companies.

Accounting Disputes

  • Financial reporting, U.S. GAAP, IFRS compliance
  • Internal control assessments
  • Audit workpaper review
  • Accounting materiality assessments

Our team includes former regulators at the SEC, FASB, the PCAOB, and former audit partners who are deeply experienced in accounting issues and developments. We assist clients respond to regulatory inquiries as well as provide expert witness services in litigation.

Antitrust

  • DOJ price fixing investigations
  • Effects on competition from mergers and acquisitions
  • Markets as defined under the antitrust laws
  • Claims of monopolization
  • Exclusionary business practices
  • Price discrimination
  • Price-fixing
  • Predatory pricing

Our experts have a wide range of expertise and experience in antitrust matters, both in regulatory and judicial settings and for both plaintiffs and defendants. Our antitrust experts often partner with our accounting experts to provide a global analysis of a company’s practices and prices. We have worked on several such cases involving criminal allegations of global price fixing and monopolization.

Due Diligence and Corporate Governance Claims

We have significant experience analyzing due diligence processes, both in M&A settings as well as in a variety of industries, such as the issuance of RMBS and other structured securities. In corporate governance matters, we have analyzed executive compensation and the practices of board members and committees.

Market Timing, Brokerage Fee and Trading Issues

  • Analysis of market timing in mutual fund trading
  • Analysis of trading communications and trade records
  • Analysis of trading patterns, pricing levels and bid-offer spreads

Also, we have extensive experience in analyzing financial institution and broker-dealer trading practices. We have addressed anti-trust regulatory concerns with respect to a variety of financial products, including government, corporate and SSA bonds, municipal debt instruments, fixed income derivatives, foreign exchange and structured securities. Our experts draw upon their actual trading and investment management experience in securities markets.

Insider Trading and Market Manipulation

  • Analysis of market information to assess allegations of insider trading
  • Analysis of trades and quotes data to assess allegations of market manipulation (e.g., spoofing)

We have comprehensive access to data and information including historical market news, analyst reports, trading data to assess allegations of insider trading. Our experts have the ability to perform sophisticated large data analytics, analyze intra-day trades and quotes data to assess allegations of market manipulation and to find unusual patterns trading activity.

Broker-Dealer Disputes Involving Suitability, Churning and Best Execution

  • Analysis of investments and their suitability for different investors
  • Analysis of trades and quotes data to assess best execution and to identify improper trading practices

Digital Assets and Cryptocurriencies

FTI Consulting blockchain and cryptocurrency experts are uniquely positioned to provide valuable insights into various aspects of cryptocurrencies, including AML-related issues. We draw upon our knowledge of the economics and valuation of digital tokens, their trading patterns, as well as evolving regulatory environment. The solutions that we offer in the context of AML investigations, regulatory probes and private litigations are leveraged and enhanced through our partnerships with top blockchain/cryptocurrency researchers, long experience working with regulators, and our advanced data analytics platform.

  • Economics of blockchain, tokens, smart contracts and dApps
  • Token intrinsic valuation, liquidity and decentralization analysis
  • Token event studies, market manipulation, loss causation and damages analysis
  • Digital asset transaction reviews and monitoring and tracing
  • Assessment and development of AML/KYC compliance programs
  • Cybersecurity and computer forensics
  • Cryptoasset identification and recovery
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