Molly is co-chair of the firm’s fintech practice group. As a former Securities and Exchange Commission prosecutor, Molly brings her seasoned trial and trial preparation skills to a range of clients in complex commercial litigation and government, regulatory, and criminal investigation matters.
In her government role, Molly prosecuted cases in all areas of federal securities enforcement, including accounting fraud, offering fraud, options backdating and market-timing. During her tenure at the SEC, her legal skills and acumen were recognized by her receipt of the Director’s and Chairman’s Awards for Excellence.
In private practice, she has represented investment companies, broker-dealers, and individuals in investigations conducted by various regulators, including the SEC, FINRA, and the California Department of Business Oversight. Molly also has substantial experience conducting internal investigations for corporations.
In addition to her government regulatory and investigation practice, Molly represents business clients in a range of different types of commercial litigation. She has tried to verdict several large cases, including misappropriation of likeness, breach of contract, antitrust, and securities fraud cases.
Molly served as a law clerk to Stephen Trott on the U.S. Court of Appeals for the Ninth Circuit.
Experience
Civil Litigation
- Represented large financial institution in litigation brought by pension fund alleging failure to properly disclose mutual fund fees.
- Represented fintech company in litigation against commercial borrower for breach of contract.
- Member of trial team that successfully defended a large retail chain in a jury trial in Los Angeles Superior Court, in which a model alleged misappropriation of his likeness.
- Represented various financial institutions in litigation alleging that they aided and abetted Ponzi schemes.
- Represented financial institution in litigation alleging breach of fiduciary duty and conversion.
Enforcement
- Represented four senior executives in connection with an SEC investigation for failure to supervise a rogue financial advisor, which post-Wells submission, was closed without enforcement action.
- Represented broker-dealer in an SEC investigation concerning the disclosure of financial adviser compensation, which was closed without enforcement action.
- Represented Chief Investment Officer in an SEC investigation of a real estate investment fund.
- Represented issuer of securities in securities fraud investigation by SEC, which resulted in no charges being brought.
- Represented prominent, early Bitcoin adopter in settlement with SEC.
- Represented board member of public company in SEC securities fraud investigation.
- Represented a cryptocurrency investor in an SEC investigation of a cryptocurrency exchange.
- Represented executives in an SEC investigation concerning potential insider trading, which resolved without charges.
- Represented Chief Financial Officer in an SEC investigation of real estate investment trust.
- Represented executive in an SEC investigation and subsequent federal litigation concerning fraudulent EB-5 program.
- Represented insurance company in SEC investigation related to variable annuities.
- Represented broker dealer in FINRA investigation concerning suitability of share classes of 529 plans.
Internal Investigations
- Conducted internal investigation of financial institution concerning potential AML issues.
- Conducted internal investigation concerning potential sales practice issues.
- Conducted internal investigation concerning potential churning and suitability issues involving more than a dozen financial advisers.
- Anti-Bribery & Anti-Corruption (FCPA)
- Bank Defense and Counseling
- Bank Secrecy Act and Anti-Money Laundering Counseling and Defense
- Commercial Litigation
- Government Investigations & White Collar Litigation
- Political Investigations Litigation and Enforcement
- Securities Enforcement & Regulatory Counseling
- Shareholder & Directors & Officers Litigation
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LMU Loyola Law School Los AngelesJD
cum laude, Order of the Coif, Editor-in-Chief, Loyola of Los Angeles Law Review
1993 - Georgetown UniversityBSFSInternational Politics1987
Member, National Association of Federal Equity Receivers
Executive Committee, Red Mass for the Saint Thomas More Society
Member, American Bar Association
Member, California State Bar, Litigation Section
Member, Los Angeles County Bar Association
Member, Women’s Lawyers Association of Los Angeles
Member, Women’s White Collar Defense Association
- Speaker, "Navigating Maternity Leave Policies in the Finance Industry," Deal Us In: Get to Know the Women of Deal Us In, August 19, 2020
- Speaker, "What to Expect in SEC and FINRA Enforcement," Mid-2020, What to Expect… A Look Toward the Future, July 15, 2020
- Speaker, When the Plates Stop Spinning: How Financial Institutions Can Prepare for Ponzi Scheme Investigations and Litigation, May 14, 2020
- Speaker, Fintech Happy Hour, February 12, 2020
- Speaker, Tenth Annual SEC & DOJ Hot Topics 2017, December 8, 2016
- Speaker, "2010 Advanced Corporate and Securities Fraud Course," U.S. Department of Justice and Federal Bureau of Investigation, September 16, 2010
- Hon. Stephen S. Trott, U.S. Court of Appeals for the 9th Circuit, 1993-1994
- California
- U.S. Court of Appeals for the 9th Circuit
- U.S. Court of Appeals for the 11th Circuit
- U.S. District Court for the Central District of California
- U.S. District Court for the Eastern District of California
- U.S. District Court for the Northern District of California
- U.S. District Court for the Southern District of California
Selected for inclusion in “Legal 500 United States,” Fintech, 2023
Named to “Southern California Super Lawyers,” Business Litigation, Super Lawyers, Thomson Reuters, 2018-2021
Director’s Award, Securities and Exchange Commission, 2008
Chairman’s Award for Excellence, Securities and Exchange Commission, Senior Initiatives Team, 2007
Lawyer of the Year, Constitutional Rights Foundation, 1997
- Co-author, "When Investors Rush In: The Close of Sam Bankman-Fried’s Criminal Case Signals More Lawsuits Against Private Equity Firms to Recoup Losses," New York Law Journal, February 20, 2024
- Author, SEC Issues Risk Alert on Reg BI Deficiencies Identified During Exams, McGuireWoods Legal Alert, February 2, 2023
- Author, Is the Future of the Dollar Digital? The Fed Talks Updating Greenbacks to the Blockchain, Consumer FinSights, May 26, 2022
- Author, New York State Department of Financial Services Takes Aim at Blockchain Entities Circumventing Sanctions on Russia, Consumer FinSights, May 11, 2022
- Author, SEC Signals Enhanced Focus on Crypto Assets by Expanding the Enforcement Unit Tasked With Protecting Crypto Markets, Consumer FinSights, May 3, 2022
- Author, Enforcers Eye Crypto Tax Dodgers, Their Accountants and Lawyers, Consumer FinSights, April 7, 2022
- Author, Federal Framework for Digital Asset Regulation Comes into Focus, Consumer FinSights, March 15, 2022
- Author, Despite $100M Settlement With SEC, BlockFi Still Under Fire From Investors, Consumer FinSights, March 10, 2022
- Author, First FCPA Settlement of 2022 — Enforcement on the Horizon, Subject to Inquiry, March 1, 2022
- Author, SEC Onslaught of Proposed Rules Turns Focus to Investment Advisers, McGuireWoods Legal Alert, February 24, 2022
- Author, 2021 Brought SEC Focus on Crypto Exchanges and Lending Platforms, Consumer FinSights, January 10, 2022
- Author, Biden Administration to Focus on Cryptocurrency as Working Group Issues Report on Stablecoins, Consumer FinSights, December 7, 2021
- Author, SEC Speaks 2021: New Enforcement Director Resolves to Restore Public Trust, Empower Staff, McGuireWoods Legal Alert, October 25, 2021
- Author, In Securities Fraud Cases, “Generic” Statements May Demonstrate Lack of Price Impact at Class Certification, Class Action Countermeasures, June 23, 2021
- Author, Oral Arguments Held in Challenge to OCC’s Fintech Charter, Consumer Finsights, March 24, 2021
- Author, SEC Announces 2021 National Examination Priorities, Subject to Inquiry, March 4, 2021
- Author, SPAC Litigation Likely to Surge in 2021, McGuireWoods Legal Alert, February 1, 2021
- Author, Congress Affirms and Extends SEC’s Disgorgement Powers, Subject to Inquiry, January 13, 2021
- Author, CFPB Grants Historic Approval to Payactiv, Approving Payactiv’s Earned Wage Access (EWA) Program under Regulatory Sandbox Policy, Consumer FinSights, December 31, 2020
- Author, SEC Takes Another Step to Prioritize Fintech Innovation, Consumer FinSights, December 7, 2020
- Author, Yet Another Mutual Fund Fee Issue or “Death by a Thousand Cuts”: FINRA Sweep of Rights of Reinstatement Waivers, Subject to Inquiry, November 17, 2020
- Author, 2020 NASAA Fintech and Cybersecurity Symposium — Key Comments, Consumer FinSights, November 2, 2020
- Author, The New California Consumer Financial Protection Law, Consumer FinSights, September 17, 2020
- Author, Funding Circle Approved to Issue Paycheck Protection Program Loan, Consumer FinSights, April 25, 2020
- Author, Fintech Lenders Approved to Participate in the Paycheck Protection Program, Consumer FinSights, April 15, 2020
- Author, New Emergency Rules Apply in All California Courts During COVID-19 Crisis, McGuireWoods Legal Alert, April 10, 2020
- Author, The Role of Fintech Lenders in the Paycheck Protection Program, Consumer FinSights, April 9, 2020
- Author, Square Obtains FDIC Charter to Operate Its Own Bank as an Industrial Loan Company, Consumer FinSights, March 20, 2020
- Author, U.S. Fintech Company Becomes First to Acquire a Regulated Bank, Consumer FinSights, February 24, 2020
- Author, California and New York Governors Plan to Expand Consumer Financial Protection, Consumer FinSights, January 16, 2020
- Author, FINRA Releases Its 2020 Risk Monitoring and Examination Priorities, Subject to Inquiry, January 15, 2020
- Author, SEC Announces 2020 Examination Priorities, Subject to Inquiry, January 8, 2020
- Author, The More Things Change, the More They Stay the Same – Joint Statement by FINRA and the SEC on the Customer Protection Rule and Digital Asset Securities, Consumer FinSights, July 9, 2019
- Author, SEC 2019 Fintech Forum, Consumer FinSights, June 13, 2019
- Author, Securities Enforcement Update: Cyber Unit Files First ICO Fraud Action, McGuireWoods Legal Alert, December 4, 2017
- Author, A Circuit Split is Born: 11th Circuit Rules SEC’s Disgorgement Claim Subject to 5-Year Statute of Limitations, Subject to Inquiry, June 6, 2016
- Author, FINRA Issues Sweep Letter on Firms’ Cultural Values, Subject to Inquiry, February 22, 2016
- Author, Just Admit It – SEC Requiring Admissions with Increased Frequency, Subject to Inquiry, December 7, 2015
- Author, FY2015 SEC Enforcement Report, Subject to Inquiry, October 28, 2015
- Author, SEC Proposes to Amend Rules Governing Administrative Proceedings, Subject to Inquiry, September 25, 2015
- Co-author, "Why The SEC Delay Over Crowdfunding Rules is Stifling Bitcoin Innovation," CoinDesk, June 13, 2014
- Author, All Relief Sought by SEC Subject to 5-Year Statute of Limitations, Subject to Inquiry, May 21, 2014
- Author, In a First, SEC Sanctions Employee for Misleading Chief Compliance Officer, Subject to Inquiry, September 11, 2013
- Author, "SEC makes first move to clarify new settlement policy," Los Angeles Daily Journal, September 6, 2013
- Author, SEC Requires Admission of Liability in Settlement with Falcone and Harbinger Capital Partners, Subject to Inquiry, August 23, 2013
- Author, SEC’s Focus on Municipalities and Municipal Securities Continues, McGuireWoods Legal Alert, July 24, 2013
- Author, Another SEC Enforcement Action Confirms Increased Focus on Municipalities and Municipal Securities, McGuireWoods Legal Alert, May 24, 2013
- Author, Recent SEC Enforcement Actions Demonstrate Increased Focus on Municipalities and Municipal Securities, McGuireWoods Legal Alert, May 7, 2013
- Author, U.S. Supreme Court Narrows SEC’s Ability to Seek Civil Penalties in Enforcement Actions, Subject to Inquiry, February 28, 2013
- Author, Avoiding Waiver of the Attorney-Client Privilege, Subject to Inquiry, February 19, 2013