Marc Fagel is a retired attorney who, throughout his 28-year legal career, specialized in SEC enforcement and securities litigation. Since retiring, Mr. Fagel has focused on writing and other projects, while undertaking occasional consulting and expert witness engagements on behalf of individuals subject to SEC investigations and examinations. He is currently a lecturer at Stanford Law School, teaching legal writing to first-year law students.
He also continues to serve as a resource for reporters on SEC enforcement matters. (See recent insider trading articles in Salon and the Wall Street Journal; as well as a summer 2022 appearance on CBS Saturday Morning discussing Elon Musk's proposed Twitter acquisition.)
From 2013 until 2019, Mr. Fagel was a partner in Gibson, Dunn & Crutcher’s San Francisco and Palo Alto offices and a Co-Chair of the Firm’s Securities Enforcement practice group. Mr. Fagel’s practice focused on the representation of public companies and their officers and directors, as well as financial institutions, hedge funds and private equity firms, accounting firms, and others in investigations conducted by the Securities and Exchange Commission, Department of Justice, FINRA, and other regulatory bodies. Mr. Fagel also represented clients in connection with internal investigations, regulatory examinations, and related civil litigation.
Prior to joining the Firm, Mr. Fagel spent over 15 years with the SEC, most recently serving as Regional Director of the SEC’s San Francisco Regional Office from 2008 to 2013. In his role as Regional Director, he was responsible for administering the SEC’s enforcement and examination programs for Northern California and the Pacific Northwest, managing a staff of more than 100 lawyers, accountants, and other professionals. Before his appointment as Regional Director, Mr. Fagel served as the office’s Associate Regional Director in charge of enforcement. While at the SEC, Mr. Fagel conducted and supervised investigations in nearly every subject area of the SEC’s enforcement program, including public company disclosure and reporting; insider trading; and matters involving major financial institutions, investment advisors, mutual funds, hedge funds, and broker-dealers.
Before joining the SEC, Mr. Fagel spent six years as an associate in the San Francisco office of Morrison & Foerster, where he specialized in representing technology companies and their officers and directors in securities fraud class action litigation. Mr. Fagel received his undergraduate degree from Princeton University and graduated with honors from the University of Chicago Law School, Order of the Coif.
If you're a glutton for punishment who happens to have 90 minutes to spare, feel free to watch this interview with the SEC Historical Society discussing the evolution of the SEC during my 15-year tenure with the agency.