David Chase
Top rated Securities Litigation attorney in Fort Lauderdale, Florida
The Law Firm of David R. Chase, P.A.
Practice areas: Securities Litigation, White Collar Crimes
Licensed in Florida since: 1992
Education: University of Miami School of Law
Selected to Super Lawyers: 2006 - 2007, 2009 - 2019, 2021 - 2026 
Free Consultation The Law Firm of David R. Chase, P.A.
1700 East Las Olas Blvd.Suite 305
Fort Lauderdale, FL 33301 Phone: 800-760-0912 Email: David Chase Visit website
Details 
David Chase, a nationally recognized and acclaimed SEC defense lawyer, represents those under SEC investigations, DOJ securities fraud grand jury investigations and FINRA inquiries around the country, including all the financial centers: New York City, Washington, DC, Chicago, San Francisco, San Diego, Austin, Dallas and Houston.
David uniquely understands how the SEC conducts its investigations, settlement negotiations, and prosecutions as he served in the SEC’s Enforcement Division as a Senior Counsel in the SEC’s Miami Regional Office for approximately four years. He now uses this inside knowledge to strategically defend his clients to avoid charges or negotiate favorable settlements where required.
For the last thirty years, David has successfully represented individuals, securities professionals, investment advisors, hedge fund managers, and companies who find themselves under the SEC’s crosshairs. Cases handled include insider trading, stock manipulations, crypto fraud, Ponzi schemes, and investment advisor fraud, among others.
David, a SEC Subpoena Lawyer, will personally handle your case and patiently guide you through the complex and oftentimes stressful investigatory process. He crafts a defense strategy for each of his clients based upon their objectives and personal circumstances.
David has been widely quoted and published on SEC cases, and has appeared on Bloomberg, CBC and other media outlets. Additionally, David has served for over a decade as an Adjunct Professor of Law at the University of Miami School of Law, where he teaches a course on SEC Investigations.
First Admitted: 1992, Florida
Professional Webpage: http://www.securitiesfrauddefense.net/attorney-profile/
Bar / Professional Activity
- Florida Bar, 1992
Videos
- Bloomberg Interview on Stock Market Activity in Gamestop, Financial Services, 2021
- Anatomy of an SEC Investigation: From Inception to ResolutionUnderstanding how the U.S. Securities and Exchange Commission (SEC) initiates, conducts, and concludes an investigation is vital for legal practitioners and targeted individuals alike [00:07]. Key stages include:How Investigations Begin: [00:07] Inquiries commonly originate from whistleblowers, media reports, or regulatory referrals—such as suspicious trading alerts from FINRA or NASDAQ—as well as the SEC’s proprietary analytics technology [00:28].Informal vs. Formal Inquiries: [01:08] Investigations typically start informally (requesting voluntary cooperation, though licensed entities like investment advisers and broker-dealers are mandated to cooperate) [01:19]. If necessary, the SEC secures subpoena power to launch a formal investigation, compelling document production and sworn testimony [01:42].The Wells Notification: [02:46] Upon concluding an investigation, if the SEC believes it has sufficient evidence, it issues a Wells notice informing the target of its intent to recommend an enforcement action [02:57]. This provides defense counsel an opportunity to formally argue against charging [03:07].Resolution Paths: [03:17] Cases that are not dropped can either be settled through negotiation or proceed directly to litigation [03:22]. 🔗 Watch the full discussion: Under SEC Investigation? What You Need to KnowTop 5 Hashtags:#SEC, #SecuritiesLaw, #WhiteCollarDefense, #RegulatoryCompliance, #Litigation, Under SEC Investigation? What You Need to Know, Finance, Financial Services, Securities Compliance, Litigation, 2005
- Proving Insider Trading: What the SEC Must Establish and Defense StrategiesIn insider trading investigations, the U.S. Securities and Exchange Commission (SEC) carries the burden of proving that an individual traded while in possession of material non-public information (MNPI) [00:07]. Key takeaways for legal professionals include:Core Legal Elements: [00:07] The SEC must demonstrate either a tip derived from a breach of fiduciary duty or the misappropriation of confidential information by someone who was granted lawful access for professional purposes [00:33].Evidentiary Hurdles: [00:57] Despite clear legal definitions, insider trading cases are notoriously complex and challenging for the government to prove at trial [01:08].Navigating SEC Interviews: [01:20] For clients who are entirely innocent, counsel may advise speaking truthfully to investigators to directly deny the allegations [01:31].Invoking the Fifth Amendment: [01:42] When appropriate, asserting constitutional protections allows clients—both innocent and guilty—to remain silent and avoid being ensnared by ambiguous circumstances or misinterpreted statements [02:10].Shifting the Burden: [02:33] Remaining silent strategically prevents the SEC from using a client's own words against them, forcing the agency to independently establish its case by a preponderance of the evidence [02:45]. 🔗 Watch the full discussion: What Does the SEC Need to Prove to Win an Insider Trading Case?#InsiderTrading, #SEC, #WhiteCollarDefense, #SecuritiesLaw, #SECEnforcement, What Does the SEC Need to Prove to Win an Insider Trading Case?, Financial Services, Banking, Securities, Corporations, 2026
- Navigating Parallel SEC & DOJ Investigations: High Stakes and Strategic DefenseWhen the U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) simultaneously investigate the same facts and individuals, the legal landscape escalates rapidly [00:06]. Key strategic considerations include:Heightened Complexity & Dangers: [00:20] Parallel proceedings drastically magnify the stakes, requiring defense counsel experienced in both civil regulatory frameworks and criminal enforcement.Complicated Testimony Decisions: [00:44] A routine decision regarding whether a client should testify during an SEC deposition becomes exceptionally perilous when a pending criminal probe is underway [00:55].Anticipating DOJ Referrals: [01:15] Effective defense strategies in SEC matters must constantly factor in the distinct possibility of a criminal referral [01:22].Life-Changing Consequences: [01:41] Because criminal prosecution carries the grave threat of incarceration [01:41], safeguarding a client's constitutional and legal interests takes absolute priority [01:06]. 🔗 Watch the full discussion: Facing Parallel Investigation by Both the SEC & DOJ? Strategic Insights #WhiteCollarCrime, #SEC, #DOJ, #SecuritiesLaw, #InsiderTrading, Facing Parallel Investigations by Both the SEC and DOJ?, Financial Services, Banking, Securities, Corporations, 2026
- How the SEC Makes Formal Charging DecisionsWhen evaluating whether to bring formal charges or negotiate a settlement, the U.S. Securities and Exchange Commission (SEC) weighs several critical factors:Quality and Credibility of Evidence: [00:17] The strength, persuasiveness, and reliability of the underlying evidence are foundational to any enforcement action.Investor Harm vs. Technical Violations: [00:27] The SEC prioritizes cases involving actual economic harm to investors over isolated technical infractions that caused no financial damage.Target History (Recidivism): [00:49] Individuals or entities with a prior record of securities law violations or criminal prosecution face a significantly elevated risk of being prosecuted.Remediation & Mitigation: [01:08] Proactive mitigation efforts—such as adopting robust compliance policies and procedures or terminating individuals responsible for violations—are heavily factored into charging and settlement discussions.Shifting Administration Priorities: [02:00] Enforcement priorities naturally evolve across different political administrations [02:12], meaning conduct scrutinized under one regime may carry different risks under another.Watch the full discussion: How Does the SEC Make Formal Charging Decisions?, How Does the SEC Makes Formal Charging Decisions?, Financial Services, Banking, Securities, Corporations, 2026
- Critical Mistakes to Avoid in an SEC InvestigationReceiving an SEC subpoena can trigger immediate panic, but reacting hastily can lead to irreversible missteps that alter the entire trajectory of an investigation. In a recent video discussion, securities defense attorney David R. Chase breaks down the most common—and dangerous—self-inflicted errors targets make, and how to avoid them to protect your livelihood and reputation.Key Pitfalls to Avoid:Speaking with the SEC Unrepresented: Attempting to "explain everything away" under the assumption that an innocent conversation will make the investigation go away is a major mistake. Every word can be used against you, especially when you may not fully know the scope of what is being investigated.Discussing the Matter or Putting Things in Writing to Third Parties: Conversations, text messages, and emails with friends or business associates are not protected by legal privilege and can easily be subpoenaed and used as evidence by the SEC.Destroying or Altering Documents: Deleting or altering relevant files after receiving a subpoena can constitute obstruction of justice, instantly escalating a containable civil matter into a serious criminal offense.Choosing the Wrong Legal Representation: Relying on a general practitioner (such as an attorney who handles real estate closings, DUIs, or general litigation) is a critical error. SEC investigations require specialized defense counsel—ideally a former SEC enforcement attorney—who understands federal securities laws and the commission's unique playbook.Recommended Next Steps:Upon receiving an SEC subpoena, the immediate priority should be to secure experienced, niche-focused SEC defense counsel to guide you through the process and safeguard your legal and financial interests from day one.Watch the full video on YouTube: What are the Critical Mistakes to Avoid in an SEC Investigation? , What are the Critical Mistakes to Avoid in a SEC Investigation?, Financial Services, Banking, Securities, Corporations, 2026
Educational Background
- University of Miami School of Law, 1989-1992
Scholarly Lectures / Writings
- A strategic analysis on how to effectively defend and beat a SEC Insider Trading Investigation., Author, How To Beat a Insider Trading Investigation, HG.Org, Financial Services, Pharma, Biotechnology, Crypto, 2017
- How the SEC Determines “Profit” in Insider Trading Cases When No Gain is Realized: An Analysis of the MacDonald CaseA common misconception among targets facing an insider trading investigation is that if they never actually sold the shares or exercised option contracts, they haven't made a profit—meaning there is no realized gain and nothing for the government to claw back (or to disgorge). However, Securities and Exchange Commission (SEC) enforcement and federal case law tell a different story. In a recent post on the SEC-FINRA Defense Blog, SEC Defense Attorney David R. Chase examines how the SEC and federal courts measure "profit" when no actual cash gain has been realized, looking closely at the landmark precedent established in SEC v. MacDonald.Key Takeaways for Practitioners and Defendants:The "Paper Profit" Fallacy: Defendants often mistakenly believe that holding onto securities shields them from disgorgement or financial penalties.The MacDonald Standard: Under SEC v. MacDonald, courts measure ill-gotten gains by determining the "paper profit" that accrues during the gestation period—the time necessary for the market to fully absorb and react to the original material nonpublic information (MNPI).Disgorgement Beyond Actual Sale: Disgorgement can be calculated based on the market's reaction within a reasonable time after public dissemination of the inside information, regardless of whether the trader actually sold the stock at its peak or held onto it indefinitely.High-Stakes Defense: Because insider trading investigations involve complex calculations of trading records, market impact, and intent, early and sophisticated legal counsel is critical to challenge the government's theories of disgorgement.To read the full analysis and learn more about navigating SEC and FINRA defense, visit the David R. Chase, P.A. Law Firm Blog.SecuritiesLaw #InsiderTrading #WhiteCollarDefense #SuperLawyers, Author, How the SEC Determines “Profit” in Insider Trading Cases When No Gain is Realized: An Analysis of the MacDonald Case, David R. Chase, SEC Defense Law Firm of David R. Chase, Finance, Financial Services, Securities Compliance, Litigation, 2026
- A detailed explanation of how the SEC conducts its investigations., Author, SEC Investigations: The Process Explained, Law Firm of David R. Chase, 2024
- A primer on the three key considerations in choosing a SEC Defense Attorney, Author, Choosing a SEC Defense Lawyer: Three Considerations, HG.Org, Financial Services, Pharma, Biotechnology, Crypto, 2023
Industry Groups
- Financial Services Industry
Office location for David Chase
1700 East Las Olas Blvd.
Suite 305
Fort Lauderdale, FL 33301
Selections
19 Years Super Lawyers
- Super Lawyers: 2006 - 2007, 2009 - 2019, 2021 - 2026