David L. Hirsch Partner

Dave is a highly respected member of the securities enforcement and regulatory counseling practice group at McGuireWoods, where he plays a key role shaping the strategic direction of the firm’s securities enforcement initiatives. Dave is recognized for his deep experience and keen insights, particularly navigating the intricacies of securities law as it applies to new technologies.

In addition to his extensive work in securities enforcement, Dave is a trusted adviser to clients on emerging issues related to cybersecurity, crypto assets, and AI. His ability to anticipate and respond to regulatory changes and uncertainty allows clients to stay ahead of potential challenges and capitalize on new opportunities in these dynamic fields.

Dave’s multidisciplinary approach ensures that his clients receive well-rounded guidance, whether they are launching new products or services, seeking guidance or exemptive relief from regulators, or facing an enforcement investigation. Dave counsels clients on governance and regulatory requirements as they apply to AI, cybersecurity, and digital assets, and guides clients through cyber incident response, leads internal investigations, and counsels corporate boards on cyber and AI related risks. He also frequently speaks and writes on these topics.

Prior to joining McGuireWoods, Dave served as Chief of the Crypto Assets and Cyber Unit in the SEC’s Division of Enforcement.  He assumed that role shortly before FTX collapsed and led the unit through a period of unprecedented activity and growth. He oversaw the SEC’s cyber, crypto and AI investigations from inception to resolution, including pioneering cases, landmark settlements, and fiercely contested litigation against well-funded and well-represented defendants.

Dave was instrumental in shaping and recommending the SEC’s cyber enforcement priorities and worked closely with other agency offices and divisions on rulemakings and proposals related to cybersecurity, such as the recently enacted Public Issuer Disclosure Rule. He led the agency’s enforcement actions concerning fraud and registration violations, including token sales, tokenized assets, NFTs, staking services, lending services, and the operations of intermediaries including DeFi entities and services.  He oversaw investigations involving AI and suspected violations of securities laws, including misrepresentations and fraudulent claims about the benefits or use of AI.

As counsel to Commissioner Caroline Crenshaw, Dave reviewed and advised on effectively all enforcement recommendations before the Commission and worked on a variety of policy and rulemaking proposals. In that role he worked with SEC leadership across multiple offices and divisions and met frequently with market participants, advocates, media and legislative staff.

In addition to these responsibilities, Dave led investigations into emerging technologies, including smart contract exploits and decentralized protocols such as DAOs, making critical recommendations on case management and litigation strategy.

Dave is on the NYU Center for Cyber Security Legal Advisory Board, and is an editor of the International Journal of Blockchain Law.