In another notable swing through the revolving door between government and BigLaw, two top Securities and Exchange Commission enforcement officials recently joined Willkie Farr & Gallagher LLP as partners. They join former SEC general counsel Robert Stebbins and former CFTC commissioner Christopher Giancarlo as government alumni at the firm.
In addition to their legal expertise, Kristina Littman and Adam Aderton carry with them over 25 combined years of agency experience, insights and relationships. Littman most recently led the SEC’s crypto assets and cyber unit while Aderton was the co-chief of the division of enforcement’s asset management unit.
Littman and Aderton are now well positioned to help undermine SEC chair Gary Gensler’s efforts to appropriately regulate asset management and crypto firms. The crypto industry is already designed to skirt existing regulations. And the industry’s recent turn to former government lawyers to defend its predatory products in Washington is particularly worrisome as the nation faces courts determined to weaken the administrative state. As we’ve noted before, Biden must move to block crypto’s access to the revolving door.
Check out our list of crypto revolvers here.
IMAGE CREDIT: “Revolving doors” by Valerie Everett is licensed under CC BY-SA 2.0