E. Andrew Southerling Partner

Andrew is co-chair of the SEC Enforcement & Litigation team for the Government Investigations and White Collar Litigation Department. He has more than two decades of experience in securities regulation and enforcement and has successfully represented corporations, financial institutions and individuals in a wide range of high-stakes and novel civil and criminal investigations and enforcement actions.

Drawing on his experience in government service and private practice, clients look to Andrew for counsel on securities enforcement matters, securities litigation and regulatory compliance counseling. He represents corporate and individual clients in U.S. Securities and Exchange Commission (SEC), U.S. Department of Justice (DOJ), Financial Industry Regulatory Authority (FINRA), state attorneys general, and Congressional investigations and enforcement proceedings. Andrew also conducts internal investigations on behalf of corporate management and boards of directors and advises clients on developing and implementing effective compliance programs. Prior to entering private practice, Andrew served a six-year tenure at the SEC in the Division of Enforcement.

Andrew’s representations have included complex securities issues involving political intelligence and insider trading, municipal bond underwriting and sales and trading, financial reporting and disclosures, the Foreign Corrupt Practices Act (FCPA) , high frequency trading, market manipulation, broker-dealer and investment adviser sales practices, and enforcement matters involving foreign regulators. He regularly advises clients in connection with developing responses to regulatory examinations and inquiries and designing strategies to ensure prospective compliance with the securities rules and regulations. Andrew also has extensive experience in conducting corporate internal investigations and often provides counsel and strategic responses in connection with whistleblower and other corporate crisis issues.

During his tenure in the SEC’s Enforcement Division, Andrew spearheaded some of the Enforcement Division’s then most complex and high-profile investigations and enforcement actions. They included a joint civil and criminal investigation involving the financial reporting and disclosures of the largest nonprofit healthcare organization in Pennsylvania; municipal securities fraud involving advance refundings and conflicts of interest, including a global settlement related to yield burning; complex options trading schemes on a regional stock exchange; and private equity and investment adviser fraud. Andrew worked closely with the DOJ, FINRA, Department of Treasury, and state regulators during his tenure at the SEC.

Before joining the SEC, Andrew was a litigation associate with a prominent Philadelphia law firm. His international background includes advanced academic coursework at the University of Hamburg and the Goethe Institute. Andrew has worked for two large multinational manufacturing companies, Hauni Werke, AG and Kunstoffe Kruger, AG, in Hamburg Germany.

Andrew is a frequent speaker at securities industry conferences and author on securities enforcement issues. He is proficient in German.

  • Catholic University of America Columbus School of Law, JD
  • Villanova University, BA

Member, American Bar Association

Member, District of Columbia Bar Association

Member, Securities Industry and Financial Markets Association

  • Speaker, "Product Supervision and Hot Topics," Fidelity Broker-Dealer Compliance Roundtable, April 2019
  • Panelist, "Municipal Securities & Public Finance," SIFMA C&L Annual Seminar, March 24-27, 2019
  • Moderator, "A Discussion with former SEC Commissioner Paul Atkins," Bond Dealers of America 10th Annual National Fixed Income Conference, October 25-26, 2018
  • Speaker, "Current Enforcement Priorities – Insider Trading and FCPA," 2017 Advanced Topics in Hedge Funds, July 2017
  • Speaker, "Securities Litigation Developments," Global Public Company Academy, July 2017
  • Panelist, The National Municipal Bond Summit, March 2017
  • Speaker, 2017 SEC Examination & Enforcement Trends Roads Show, March 2017
  • Speaker, "Outlook on Legislation, Regulation, and Enforcement," Bond Dealers of America Annual Strategy Session, February 2017
  • Speaker, BDA National Fixed Income Conference, October 2016
  • Speaker, 2016 SEC and FINRA Year in Review, March 2016
  • Speaker, 2016 SEC Examination and Enforcement Trends Roundtable Road Show, March 2016
  • Speaker, "Outlook on Enforcement and Regulation in Fixed Income Markets," Bond Dealers of America Annual Strategy Session, January 2016
  • Speaker, 4th Annual Fixed-Income Legal and Compliance Roundtable, January 2016
  • Speaker, "2014 SEC and FINRA Year in Review for Broker-Dealers," Webinar, March 2015
  • Speaker, SEC and FINRA 2012 Year in Review, February 2013
  • District of Columbia
  • Pennsylvania
  • U.S. District Court for the District of Columbia
  • U.S. Supreme Court
  • German
  • Author, "SEC Speaks 2017: Developments and Successes in the Enforcement Program," March 2017
  • Author, "The Salman Decision; The Supreme Court Weighs in on Insider Trading," December 2016
  • Author, "SEC Speaks 2016; Enforcement Panels Double Down on Use of Data Analytics ," February 2016
  • Author, "Selection Broker-Dealer Enforcement Cases and Developments: 2014 Year in Review – February 2015," February 2015
  • Author, "SEC Targets Corporate Insiders for Failing to Promptly Disclose Stock Transactions," September 2014
  • Author, "2013 SEC and FINRA Year in Review for Broker Dealers and Investment Advisers," March 2014
  • Author, "Select Broker-Dealer, Investment Adviser, and Investment Company Enforcement Cases and Developments; 2013 Year in Review," February 2014
  • Author, "New Era of Aggressive Insider Trading Enforcement Panel (the STOCK Act and Political Intelligence)," Business Lawyers Institute, November 2013
  • Author, "Dodd-Frank and the SEC Whistleblower Program," Business Lawyers Institute, November 2013
  • Author, "The Impact of Recent Regulatory and Enforcement Initiatives on Banks, Broker-Dealers, and Other Market Participants Selling Municipal Securities," BISA-BDA Municipal Securities Webinar, October 2013
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