Peter I. Altman

Los Angeles

Peter I. Altman's practice primarily focuses on representing Securities and Exchange Commission registered investment advisers, and he has become deeply involved in investigations related to new technologies, including electronic trading systems, cryptocurrency and other digital assets.

Altman's extensive experience, especially his previous service in the Division of Enforcement of the SEC Los Angeles Regional Office, provides him with insights and skills in government investigations and litigation involving not only the SEC, but also the Commodity Futures Trading Commission and the Department of Justice.

Recently, Altman secured significant victories for clients in Massachusetts. U.S. v. Klyushin, et al., 1:21-cr-10104 (D. Mass., filed April 6, 2021) and SEC v. Kliushin, 21-CV-12088 (D. Mass., Dec. 20, 2021).

In these matters, Altman successfully represented an SEC Electronic Data Gathering, Analysis and Retrieval system (EDGAR) filing agent against allegations of insider trading stemming from a cybersecurity breach. His representation led to no charges against the client, which was identified as a principal victim of the hack.

Another notable case Altman has led is U.S. v. Coleman and SEC v. Coleman, where he represents an SEC registered investment adviser identified as a principal victim of fraudulent conduct by a borrower. Through strategic engagement and cooperation with the SEC and DOJ, Altman managed to keep the client's name out of the government's charging papers, demonstrating his ability to protect clients' interests while navigating complex legal landscapes.

Altman said in the matters he handles relating to cryptocurrency and other digital assets, overcoming the stigma attached to that industry relating to recent high-profile charges of misconduct and market volatility is an ongoing challenge.

"The industry includes a large spectrum of people, businesses, and products," he said. "Many or perhaps even most of the people in the industry are creative, well-intentioned and hardworking. In each case, we work with our client to understand the asset, the facts surrounding the conduct under investigation, and the applicable legal and regulatory landscape. We cannot change the facts associated with past conduct, but we can -- and do -- make sure that the government has the benefit of all of the context as part of our advocacy."

In addition, with government enforcement on the rise, regulators and prosecutors will look for new and different ways to apply existing law and regulation, including in the investment management industry, Altman added.

"We are already seeing regulatory examinations and enforcement investigations requesting types of data and forms of electronic communications that did not exist just a few years ago," he said. "This trend will only continue in white-collar cases. Proficiency with new technology and the ability to analyze both structured and unstructured data sets will be, as a result, key to successful representations."