Head of White-Collar and Co-Head of RISC
Norton Rose Fulbright US LLP
Kevin Harnisch is Head of White-Collar and Co-Head of Regulation, Investigations, Securities and Compliance (RISC), United States. Kevin litigates before the SEC, FINRA and other self-regulatory organizations, the Department of Justice, the CFTC, US attorney's offices, and federal courts. He handles matters relating to securities enforcement defense, internal investigations, anti-corruption issues, and represents corporations and their directors and officers, broker-dealers, hedge funds, private equity funds, and investment banks.
Kevin served as a Branch Chief in the Division of Enforcement of the SEC, where he led cases regarding financial fraud, market manipulation, insider trading, the Foreign Corrupt Practices Act (FCPA), and municipal bond offerings. He has authored numerous articles, and he frequently lectures on federal securities law and anti-corruption issues. He has experience defending public companies in a wide array of SEC, DOJ and other government agency investigations. Those investigations often pertain to such issues as the accuracy of financial statements, undisclosed related party transactions, the adequacy of internal controls, the FCPA and other anti-corruption laws, responses to whistleblowers, and potential insider trading.
Recent Articles & Comments
The 2026 examination priorities reflect the Commission’s focus on the core aspects of investor protection. Compliance with Regulation Best Interest, identifying and addressing conflicts of interest, and adhering to applicable fiduciary duties are fundamental aspects of investor protection. Given the rapid evolution of AI, it is not surprising to see emerging financial technologies as an additional area of focus.
Reforms to the waiver process for the disqualifications that can flow from the settlement of an enforcement action are long overdue. In many instances, the potential disqualifications have no meaningful link to the issues relevant to the enforcement action. Everybody would benefit by having clarity and predictability regarding the circumstances in which waivers will be granted.
This policy statement regarding criminal referrals is consistent with the DOJ’s theme of allocating its investigative and prosecutorial resources to matters involving intentional or otherwise egregious conduct. Matters involving recidivists, specialists, or large financial implications fall squarely within those buckets.
This decision reinforces the common-sense notion that not all deceptive conduct with respect to corporate information constitutes wire fraud. Requiring criminal prosecutors to prove that the property in question had commercial value to its owner is what prevents prosecutors from using the federal wire fraud statute to attempt to incarcerate people who are simply dishonest or unethical.
There are many ways to demonstrate that intangible information has commercial value. For…