Our Attorneys

Steven Fuller

Steven Fuller

Of Counsel / Boston

Practice Areas

Bar Admissions

Massachusetts
New Hampshire
U.S. District Court, Massachusetts
U.S. District Court, New Hampshire
U.S. Court of Appeals, First Circuit
Supreme Judicial Court, Massachusetts
Supreme Court, New Hampshire

Education

Suffolk University Law School, J.D.
Ithaca College, B.A.

Steven Fuller joined the firm in April 2015 as Of Counsel. He began his legal career as an enforcement attorney with the United States Securities & Exchange Commission in 1987. In 1989, he was appointed a Special Assistant United States Attorney in the District of Rhode Island. Mr. Fuller left government service in 1991 to take an in house counsel position with Banc One New Hampshire Asset Management Corporation where he served as the Litigation Manager overseeing outside counsel and handling real estate loan workouts during the wide spread collapse of the New England banking industry. Mr. Fuller next joined the Boston law firm now known as Nixon Peabody, LLP where for the following 14 years, he was a litigator whose practice focused on all areas of financial services and broker/dealer litigation and FINRA arbitration, including defending corporate and individual clients in enforcement and disciplinary proceedings before securities industry self-regulatory organizations, the SEC, and state agencies charged with enforcing the securities laws. He has successfully defended civil and criminal regulatory investigations in many jurisdictions nationally and regionally. In 2007, Mr. Fuller moved his practice to a Florida firm, Akerman Senterfitt, where he continued with the same legal disciplines until deciding to found his own practice in his native New Hampshire. For better than 5 years Mr. Fuller practiced in NH as a partner at Allen-Fuller, PA.

Mr. Fuller frequently counsels brokerage, advisory, and hedge fund clients on a full range of compliance and legal issues, including soft dollar, marketing and sales, research, directed brokerage, money laundering and Patriot Act compliance, and ADV and BD disclosure.

In 2012 and 2013 Mr. Fuller was lead defense trial counsel in two federal prosecutions arising out of FBI undercover stings targeting micro-cap fraud in the Boston area. The cases raised significant issues of legal entrapment and conspiracy to commit securities and wire fraud.

In 2012, Mr. Fuller was lead counsel in the first successful FINRA arbitration (Straccia v. Focus Capital et al), challenging an investment adviser’s extensive use of trading strategies focusing on leveraged ETFs for risk adverse clients. .

Mr. Fuller’s experience includes having represented well-known firms and individuals in the high-profile, post-tech bubble government investigations of Wall Street research and IPO allocation practices. He frequently counsels brokerage firms on compliance and internal investigations, and has defended high-profile clients in civil and criminal prosecutions arising out of government investigations into brokerage firm and mutual fund Market Timing Practices, as well as in the investigations relating to the mutual fund and brokerage industries’ Gift and Gratuity practices. Mr. Fuller has also successfully defended numerous insider trading and “shelf space” investigations. Mr. Fuller frequently counsels brokerages on compliance and internal investigations, and has defended and prosecuted numerous civil lawsuits, administrative proceedings, government investigations, and securities industry arbitrations. In addition to having successfully litigated SEC subpoena enforcement actions, he has also litigated involuntary exchange delisting proceedings for a public company.

Mr. Fuller is a certified mediator and an accomplished trial lawyer with more than 28 favorable decisions trying cases. Mr. Fuller also represented the SEC requested Receiver in the investigation and wind-up of two SEC registered Investment Advisory Firms linked to a large and complex Ponzi scheme orchestrated by their principal, and is separately defending civil and criminal investigations of a Massachusetts hedge fund linked to the embezzlement of tens of millions of dollars.

Mr. Fuller has substantial experience defending and prosecuting non-compete and “raiding” cases, has successfully litigated numerous abusive sales practice cases including suitability, unauthorized trading, selling away, improper mark-ups/mark-downs, market manipulation, churning, and misappropriation of information, fraud, and theft offenses.

Other Representative Work

  • Successfully represented Court appointed receiver in negotiating multi-million dollar settlement for the benefit of investors in a high profile ponzi scheme in SEC v. Bradford Bleidt (USDC Dist. Massachusetts).
  • Defending a securities analyst in FINRA Enforcement action relating to failure to disclose employment discussions with a covered company.
  • Represented former CEO of a publicly traded software company in federal court litigation by the SEC who has charged him with Sarbanes Oxley violations and securities fraud based upon allegations of improper revenue recognition decisions of the software company.
  • Represented high profile real estate syndicator in SEC investigation of issuer shelf space/pay to play investigation.
  • Successful defense of Prudential branch office management team in State of Massachusetts, SEC and US Attorney mutual fund market timing trading practices.
  • Successful defense of high profile analyst in NY Attorney General and SEC investigations research and investment banking conflicts of interest investigations and litigation.
  • Successful representation of Hedge Fund consortium in connection with SEC and US Attorney (Dist. NY), investigation of IPO allocation practices.
  • Successful prosecution by private investor fund against bulge bracket brokerage firm relating to fraudulent sales practices relating to interest strips.
  • Successful prosecution by small brokerage firm against Kidder Peabody for stepping away from a multi-million dollar foreign bond trade immediately following issuing country’s public announcement that triggered the immediate collapse of its currency causing the bond’s value to drop precipitously.
  • Successful defense of “bet the company” closely held brokerage firm’s multi-million dollar customer arbitration resulting in defense verdict following 10 day arbitration.
  • Defense awards in two separate multi-million dollar customer arbitrations arising out of failed charitable remainder trust investment/tax avoidance investment structures.
  • Lead defense counsel in more than 100 NASD/NYSE securities arbitrations where exceptional settlements were negotiated and settled, and zero dollar awards in 22 of 23 NASD/NYSE customer arbitration trials.
  • Successful defense of dozens of selling away arbitrations.
  • Counseled Russian brokerage firm on the acquisition and operation of U.S., NASD registered brokerage firm including consulting on all aspects of its operations and compliance, including trading desk, retail sales, licensing and policy and procedure.
  • Formation and registration of brokerage firm, investment advisor and hedge fund management vehicles at NASD, State and Federal levels, including tailoring policy, procedure, supervisory and operational manuals to existing and anticipated business practices within the appropriate regulatory framework.
  • Representation of numerous fund managers and research firms concerning soft dollar practices.
  • Extensive representation of advisory and brokerage clients mark-up/mark-down practices, ADV disclosure, proxy voting practices, conflict disclosure, drafted codes of ethics and insider trading policies, record retention policies, and reviewed and advised on issues ranging from revenue sharing to gifts and gratuities practices.
  • Successfully worked with numerous clients to mock audit advisory and brokerage firms in preparation for pending regulatory audits.

Published Work and Lecture

In law school, Mr. Fuller was a member of the Suffolk University Transnational Law Journal. Mr. Fuller is a member of the NASD’s Panel of Arbitrators, is a certified mediator in the Commonwealth of Massachusetts, and has presented courses relating to securities arbitration to Bar Association continuing legal education seminars and SEC-sponsored “Town Meetings.”

Mr. Fuller is the author of the course materials entitled Securities Arbitration; The Practice and Recent Developments, presented at the 10th Annual New England Securities Law Conference.

Mr. Fuller was a panelist speaker at the 2004 Boston Bar Association CLE Seminar titled Corporate Governance Update—Governing in the Shadow of Scandal.

Mr. Fuller was chosen in each of the years 2004 and 2005 by a poll of his Massachusetts peers as one of Massachusetts’ Super Lawyers in the securities litigation practice area by Boston Magazine.

 

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