Fort Lauderdale, FL SEC defense attorney David R. Chase talks about what you should do if you receive an SEC subpoena. He stresses that receiving an SEC subpoena can naturally cause anxiety or panic, but emphasizes that the first step should be retaining experienced SEC defense counsel to provide guidance and protect the individual’s interests. He points out that the early stages of an investigation are critical because individuals may make decisions out of fear or uncertainty that can significantly worsen their situation. For example, he cautions against speaking with SEC attorneys without legal representation, explaining that even seemingly innocent conversations can become problematic because the SEC may use an individual’s statements against them.

He also emphasizes the importance of preserving all documents and warns that deleting, altering, or fabricating records can potentially transform what might otherwise be a manageable civil SEC matter into a criminal case if the conduct is viewed as obstruction of justice. He further notes that although an individual may feel compelled to discuss the investigation with a close friend or trusted colleague, those conversations are not protected by attorney-client privilege, and the person involved could potentially be called as a witness to testify about what was discussed. He cautions individuals against putting information about the SEC investigation in writing through emails, text messages, or social media because those communications may also be discoverable by the SEC during its investigation.

He concludes that anyone who receives an SEC subpoena should immediately contact and retain experienced counsel to protect their rights, avoid actions that could worsen the situation, and improve the likelihood of successfully resolving the matter.