FacultyFaculty/Author Profile

Fredric Firestone

SEC
Associate Director, Division of Enforcement
Washington, DC, USA


Fredric (Rick) Firestone is a partner in the law firm of McDermott Will & Emery LLP and is based in the Firm’s Washington, D.C., office.  His practice focuses on investigations and enforcement proceedings by the Division of Enforcement of the U.S. Securities and Exchange Commission (SEC), federal criminal authorities, Financial Industry Regulatory Authority (FINRA), the Public Company Accounting Oversight Board (PCAOB) and state securities regulators. Rick also conducts internal investigations, advises on corporate responsibility and governance issues, and provides guidance on securities compliance matters.  Rick is the head of the Firm’s SEC defense practice.

Prior to joining the Firm, Rick was an Associate Director of the SEC’s Division of Enforcement. He worked at the SEC for 12 years and was an Associate Director for more than three years.  As a senior officer of the Division of Enforcement, Rick was responsible for the supervision of numerous, complex investigations and enforcement actions.

Rick oversaw some of the SEC’s most important and highest profile enforcement matters. He spearheaded the SEC’s investigation and settlements with multiple firms in connection with the collapse of the auction rate securities (ARS) market. The ARS settlements resulted in the return of more than $50 billion to harmed investors, the largest financial remedy in the history of the SEC. Rick was responsible for significant enforcement actions in the WorldCom and Enron matters. He also oversaw investigations and enforcement actions in all of the SEC’s major program areas, including accounting, investment adviser and municipal securities fraud; violations of the Foreign Corrupt Practices Act; insider trading; misconduct by securities professionals; and conduct by accountants and independent auditors.

Rick was recognized with the Stanley Sporkin Award, the Division of Enforcement’s highest honor.

Prior to joining the SEC, Rick was in private practice as a trial lawyer in the Washington, D.C., area. He also served as a judge advocate in the U.S. Navy. Rick tried numerous courts-martial and was appellate defense counsel in espionage and capital murder cases, among others.

Rick is admitted to practice in the District of Columbia and the state of Maryland.

Education
Washington University in St. Louis, J.D., 1986
Washington University in St. Louis, B.A. (cum laude), 1982 

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