Securities and "Financial Markets"

Securities and Financial Markets

CRA experts in securities and financial market issues offer collective expertise across economics, finance, accounting, and the financial industry. Experts include leading academics from top-tier universities, former US Securities and Exchange Commission senior staff, and financial industry practitioners. CRA consulting staff is comprised of highly experienced, knowledgeable consultants, including former professors of finance, economics, and accounting, PhDs, MBAs, CPAs, CFAs, and other highly trained specialists.

CRA experts have delivered services for a wide range of financial companies and other firms including brokers, investment banks, auditors, exchanges, clearing houses, hedge funds, private equity funds, venture capital funds, mutual fund complexes, insurance companies, and individuals. Engagements with these clients have included expert support in litigation, arbitration, and regulatory actions in the US, Canada, Europe, and Australia.

Securities litigation

CRA has extensive expertise in federal and state securities litigation. We are frequently involved in matters alleging violations of Section 11 of the Securities Act of 1933 and Rule 10b-5 of the Securities Exchange Act of 1934. We work with clients from the early stages of litigation, providing economic foundations for procedural and liability arguments. Throughout the life cycle of a case, we assist counsel with class certification issues, in settlement negotiations, rebutting opposing experts’ allegations, and providing expert testimony.

In securities matters we have provided expert services in class actions, minority actions, derivative actions, ERISA, and other matters.

Securities at issue have included common and preferred stock, bonds, securitized asset backed instruments, options, futures, and complex derivative instruments. Engagements in these matters have included providing opinions on valuation issues as well as on the economic substance of the transaction.

Financial market issues

CRA experts have provided services in a range of litigation and regulatory matters related to market microstructure and trading behaviors in security markets. In addition to expertise in finance these matters have required knowledge of regulatory provisions and order-handling systems in a wide variety of financial instruments.

CRA’s experience in civil and criminal matters involving trading and market issues has included analysis of various areas such as high frequency trading, allegations of market manipulation, suitability, best execution, and insider trading.

CRA experts have also provided expertise in matters related to changes in the competitive structure of financial markets including the impact of ECNs and alternative trading systems as well as merger activity among exchanges and other financial institutions.

Trading and investments

The trading and investment experts at CRA provide clients with unparalleled service in securities, commodities, and over-the-counter (OTC) investment, and trading-related issues. With experience in every major market and a roster of well-known academic and industry affiliates, CRA offers clients broad-based expertise to address issues in this area.

In these matters, CRA’s teams offer strong expertise in the following areas:

  • Banking, insurance, pension, and real estate finance consulting
  • Business valuation
  • Complex derivative investment product valuation and model reviews and development
  • Rule 10 (b)-5 and Section 12 claims, and stock price impact analysis
  • Market manipulation and insider trading reviews
  • Risk management consulting
  • Assessment of duties related to negligence and supervisory claims
  • Hedge fund consulting and private equity related litigation and compliance
  • Municipal bond finance, trading, and investment
  • Mortgage-backed securities finance, trading, and investment