Back-to-Back Wins: B&T Team Achieves Second SEC Termination Letter in Two Months

For the second time in two months, the Securities and Exchange Commission’s (SEC) Enforcement Division has closed an insider trading investigation without recommending charges — this time involving trading ahead of a corporate merger. The decision follows counsel from Barnes & Thornburg’s Financial and Regulatory Litigation group, which once again helped a client avoid significant legal and reputational consequences.

D.C. partner Paul Kisslinger led the matter, drawing on his background in securities enforcement to guide the client through each stage of the inquiry — from responding to subpoenas and preparing for testimony to engaging in informal communications with SEC staff.

The result underscores the group’s ability to deliver favorable outcomes in complex, high-stakes regulatory matters, even amid increased scrutiny of insider trading and other traditional securities cases.