Skip to content
Photo of Dale Rose Goldstein

Dale Goldstein handles a wide variety of litigation matters, with a focus on securities litigation, trade secret disputes, products liability, and general commercial litigation. Dale has represented and advised major financial institutions, underwriters, investment advisers, and other organizations in connection with investigations by the Securities and Exchange Commission and Financial Industry Regulatory Authority (FINRA). She is also experienced in handling a range of government investigations and regulatory and compliance matters throughout the country. Additionally, Dale has experience with international criminal law matters.

On Oct. 7, 2020, the U.S. Securities and Exchange Commission (SEC) held an open meeting and issued a notice proposing a conditional exemption from securities broker-dealer registration under Section 15

Continue Reading SEC Proposes Exemption from Registration for Finders

When producing documents to regulators, financial services firms should remain mindful that such disclosures may inadvertently waive attorney-client privilege and work product protection as to third parties.  In In re Steinhardt Partners, L.P., the Second Circuit held that the voluntary disclosure of documents to the SEC waived any work product protection of the same documents from a third party, though it declined to adopt a “per se rule that all voluntary disclosures to the government waive work product protection.”  9 F.3d 230 (2d Cir. 1993).  In In re Kidder Peabody Securities Litigation, the S.D.N.Y. held that the disclosure of attorney-client materials and work product to an adverse government entity waived those privileges as to third parties, not only as to the materials provided, but also as to the underlying source documents.  168 F.R.D. 459 (S.D.N.Y. 1996).  Furthermore, in Gruss v. Zwirn, the S.D.N.Y. found that the disclosure of privileged materials to the SEC, notwithstanding the existence of a confidentiality agreement between plaintiff and the SEC, constituted a waiver of the privilege.  2013 WL 3481350 (S.D.N.Y. July 10, 2013).
Continue Reading Voluntary Disclosure to Regulators May Result in Waiver of Privileges