In an era of shifting enforcement priorities and evolving regulatory landscapes, few practitioners possess the unique perspective that comes from extensive prosecutorial experience combined with cutting-edge defense work. Mark E. Bini, a partner in Reed Smith's Global Regulatory Enforcement Practice, brings nearly a decade of federal prosecutorial experience as an Assistant U.S. Attorney in the Eastern District of New York and Middle District of Florida, where he specialized in investigating and prosecuting financial and corporate crime, plus five years as an Assistant District Attorney in Manhattan.
With 26 trials under his belt—including some of the Department of Justice's most complex financial fraud cases—Mark has developed rare insight into prosecutorial decision-making that now benefits his corporate and individual clients. As a federal prosecutor, Mark served as a "CHIP" coordinator, leading EDNY's response to computer hacking and cryptocurrency fraud cases, and investigated multiple crypto fraud matters in parallel with the SEC and CFTC.
Since joining Reed Smith in 2021, Mark has distinguished himself by securing exceptional outcomes for clients, including time-served sentences for defendants facing decades in prison and twice obtaining rare SEC investigation termination letters in "bet the company" investment adviser cases. Most recently, his team secured a termination letter from the SEC in February 2025, with the agency formally stating it "did not intend to recommend enforcement action" against their registered investment adviser client—representing one of the most infrequent outcomes in securities enforcement.
Recognized by Chambers USA for White Collar Criminal Defense, clients describe Mark as "whip-smart and very effective" and "an absolute legal mastermind when crafting strategy." In this candid interview, Mark shares his insights on the current enforcement environment, effective defense strategies, and what companies should expect as regulatory priorities continue to evolve under the current administration.
Question 1: From Prosecutor to Defense Counsel - Understanding DOJ's Approach to Financial Crime
With nearly 10 years as an AUSA in EDNY and MDFL and 5 years as a state prosecutor, and having tried 26 cases including some of DOJ's most complex financial fraud trials, you have rare insight into prosecutorial decision-making. How has DOJ's approach to investigating and prosecuting financial crimes evolved, particularly in areas like securities fraud, crypto fraud, and FCPA violations? What factors do prosecutors weigh when deciding whether to bring charges, and how should companies and individuals position themselves during investigations to achieve favorable outcomes?
I think federal prosecutors who prosecute white collar cases in the current administration are focused on investigating old-school fraud cases—straight up misappropriation cases and cases where fraudsters tell blatant lies to steal funds from victims. I don't think we're going to see DOJ bring new criminal cases and investigations for purely regulatory type offenses where there is no bad intent. Federal prosecutors have always exercised discretion when making charging decisions, but in this more business-friendly environment companies in particular have greater opportunity to ask DOJ to exercise that discretion to focus on individual bad actors rather than punishing the company unnecessarily.