David M. Rosenfield, counsel in Herrick's Litigation Department, concentrates his practice in white collar criminal defense, corporate internal investigations and securities and commodities regulation and litigation, representing individuals, corporations and senior executives. David represents and defends clients before federal agencies including U.S. Attorneys' Offices, the SEC, the CFTC, the FDIC, and the Department of Health and Human Services; state agencies, such as the New York State Attorney General's Office and the New Jersey Division of Criminal Justice; and self-regulatory agencies, such as the Financial Industry Regulatory Authority.
In August 2011, David began serving his 3-year term as chairperson of the White Collar Crime Committee of the American Bar Association's Business Law Section. He regularly speaks at seminars and authors articles for publication on government investigations, corporate internal investigations, securities industry regulation and anti-money laundering compliance. David has appeared on CNBC, PBS and Bloomberg Television to discuss white collar criminal matters such as the Madoff and Rajaratnam cases, and has been quoted on white collar issues in various national publications.
Prior to joining Herrick, David was Senior Counsel and Manager of Legal Process at The Bank of New York, where he provided legal counsel to the Anti-Money Laundering Committee and taught the laws and regulations section of the Advanced Anti-Money Laundering Seminar. He also conducted several internal investigations for the bank and coordinated its responses to inquiries from federal and state bank regulators. David also supervised the bank's 15-person Legal Process Department, which processed and responded to legal papers served on the bank.
Prior to that, David was a prosecutor in the Frauds Division of the U.S. Attorney's Office for the District of New Jersey in Newark. He prosecuted white collar criminal cases, including three complex securities fraud cases in which he supervised detailed, lengthy investigations and coordinated the activities of Assistant U.S. Attorneys, federal law enforcement agents and investigators from regulatory agencies.
One of the cases, which resulted in 14 guilty pleas and the conviction of two others following a jury trial, involved a "boiler-room" brokerage firm in which fraudulent sales practices were used to defraud customers out of more than $100 million. The other two cases involved the market manipulation of low-priced stocks, as a result of which investors lost tens of millions of dollars. The two manipulation cases involved lengthy jury trials and resulted in convictions. David received letters of commendation from the Attorney General of the United States and the Director of the FBI for his successful prosecution of U.S. v. Eric Wynn, et al. (D.N.J.), a market manipulation securities fraud case.
David was previously a Staff Attorney in the Division of Enforcement of the Securities and Exchange Commission in Washington, D.C. where he co-authored a paper entitled "An Overview of Market Manipulation: Legal and Practical Aspects."
Representation of three directors of a failed New York City community bank in the defense of claims by the FDIC that the directors failed to exercise due care in their oversight of the bank's loan portfolio.