Peter I. Altman

Altman is an Akin Gump partner specializing in white collar defense, securities litigation and investment fund-related actions. He left the firm for three years to serve in the Securities and Exchange Commission's enforcement division in Los Angeles before rejoining in 2016. The move afforded him significant experience of complex government investigations and litigation, which now helps him better serve clients with risk and compliance counseling, he said.

"I had always been interested in government service prior to going to the SEC and Akin is very supportive of its lawyers who want to go into government," he said. "The opportunity to work in the Division of Enforcement was really attractive to me, and I learned a great deal about the securities industry and how the government regulates it. Now that I'm back in private practice, I call on that time daily to help clients think through and navigate challenging issues."

Altman is a leader of the firm's representation of Arthur Hayes, a co-founder of one of the world's largest cryptocurrency derivatives trading platforms, BitMEX. Following an investigation by the Commodity Futures Trading Commission in 2019, Hayes and others were indicted on criminal charges of violating the U.S. Bank Secrecy Act by allegedly failing to implement anti-money laundering measures at the company. U.S. v. Hayes et al., 1:20-cr-00500 (S.D. N.Y., filed Sept. 21, 2020).

The application of this regulatory framework to cryptocurrency derivatives trading platforms is untested and unprecedented in a criminal case, and Altman and the firm expect to present a robust defense, he said, while declining to discuss the matter in detail. Hayes' criminal trial is set for March 2022.

Altman and colleagues also represent Hayes in a related CFTC enforcement action pending in the Southern District of New York, along with private civil lawsuits arising from BitMEX's operations.

In other matters, Altman co-led the representation of an individual in a CFTC probe over virtual currency trading practices. The individual is referred to as "Employee A" in a government release; no charges were filed against the client. In re Coinbase Inc., 8369-21 (CFTC, settled order filed March 19, 2021).

And Altman led the representation of a major hedge fund advisor in a SEC investigation over insider trading allegations by a former employee. No charges were filed against the client, identified only as "Advisor A" in a government release. In re Michael Mindlin, 3-19645 (SEC, settled order filed Jan. 10, 2020).

In both cases, settlements without charges and without client identification were the mark of highly positive outcomes, Altman said. "Success at keeping names out of the media is a big part of white collar practice. The biggest successes are often the ones you never hear about."

Altman added that he's glad he's at Akin Gump. "The firm has invested a lot in me, and I have invested a lot in the firm."

- John Roemer