Overview

With nearly three decades of experience in securities regulation and enforcement, Michael MacPhail represents publicly traded corporations, investment advisors, broker-dealers, transfer agents, accounting firms, law firms and individuals in a wide variety of high stakes civil and criminal investigations, enforcement actions and private litigation. In defending his clients, Mike draws on his 13 years of experience as an SEC enforcement attorney, which included investigating possible violations of federal securities laws and eventually serving as a Deputy Assistant Director with supervisory authority over a team of accountants, attorneys and paralegals.

Mike also represents clients in parallel criminal investigations by federal grand juries, U.S. Attorney's Offices and the U.S. Department of Justice, and represents companies in shareholder litigation, including class action and derivative lawsuits.

Securities Litigation

Mike handles investigations and litigation by securities regulators and has testified at trial as an expert witness regarding securities matters. He has significant experience with the following agencies:

  • U.S. Securities and Exchange Commission (SEC)
  • FINRA
  • Public Company Accounting Oversight Board (PCAOB)
  • Colorado Division of Securities
  • Colorado Board of Accountancy
  • Other state securities regulators in the Western United States

Financial Services Litigation

Mike also represents clients in disputes concerning advertising, consumer lending, mortgage foreclosures, debt collection/debt management, and franchisee issues. During these disputes, he deals with the Federal Trade Commission (FTC), the Commodity Futures Trading Commission (CFTC), the Colorado Department of Regulatory Agencies (DORA) and the Colorado Attorney General’s Office.

Representing Investment Advisers and Public Companies

Mike has particular expertise in defending publicly held companies and their officers and directors, broker-dealers and investment advisers, and accounting firms and CPAs during government investigations. He responds to pre-litigation subpoenas, prepares clients for testimony and responds to “Wells notices” of intended charges.

Government Experience

After working for the U.S. Court of Appeals for the D.C. Circuit, where he advised panels of judges including current U.S. Supreme Court Justices Clarence Thomas and Ruth Bader Ginsburg, Mike served for 13 years as an enforcement attorney with the SEC.

Credentials

Bar Admissions

Colorado

Court Admissions

U.S. Court of Appeals for the District of Columbia Circuit
U.S. District Court for the District of Colorado

Education

Oberlin College
B.A. cum laude (1985)

University of California, Hastings College of the Law
J.D. (1988)

Insights & Events

Other Perspectives
  • 2014 Enforcement Update 
    Colorado Bar Association, February 2014
  • What to Do When the SEC Comes Knocking
    Colorado Bar Association, November 2013
  • Are Civility and Professionalism Dead in 2013? 
    Utah State Bar Securities Workshop, September 2013
  • Keeping a Watchful Eye: The FBI's Crackdown on Insider Training
    InCOMPLIANCE, Spring 2013

Leadership & Community

Professional Associations

  • Colorado State Bar Association — Securities Subsection (Co-chair, 2011)
  • University of Denver Graduate Tax program, 2007 and 2008
  • American Bar Association
  • Securities Industry Association — Legal & Compliance Division

Honors

  • Super Lawyers — Securities Litigation, 2012-20
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