Joan E.McKown

Of Counsel

Washington + 1.202.879.3647

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Joan McKown has more than 30 years of experience in Securities and Exchange Commission (SEC) enforcement and financial regulatory matters including investigations, exams, internal investigations, and disputes throughout the United States. She has in-depth knowledge of investigatory issues relating to financial fraud, corporate disclosure, corporate governance, accounting, compliance, private equity, Foreign Corrupt Practices Act (FCPA), broker dealer, investment adviser, investment companies, and insider trading. Joan represents corporations, and financial services firms, and their officers, directors, and employees, counseling them to avoid regulatory scrutiny, and when necessary, resolving matters on the best terms possible.

Prior to joining Jones Day in 2010, Joan was the longest serving chief counsel in the Division of Enforcement at the SEC, where she played a key role in establishing enforcement policies and worked closely with Commission and senior SEC staff. Joan literally wrote the book on SEC enforcement when she oversaw creation of the first version of the SEC Enforcement Manual. As chief counsel, she led hundreds of Wells meetings and settlement negotiations. At Jones Day, Joan has extensive experience submitting persuasive Wells submissions, having reviewed thousands of such submissions while on the SEC staff.

Joan serves as the immediate past president of the board of trustees of the Legal Aid Society of the District of Columbia. She frequently speaks and writes on SEC enforcement-related topics.

Experience

  • Multinational Fortune 500 company resolves SEC accounting issues investigation and obtains declination from DOJJones Day represented a multinational Fortune 500 company in a SEC and DOJ investigation regarding accounting issues related to multiple company projects in the U.S. and several countries around the world.
  • CFO defends allegations of wire and securities fraudJones Day acted as lead trial counsel for Cara Obert, CFO of United Development Funding, in a trial in the Northern District of Texas regarding wire fraud, securities fraud, and conspiracy allegations.
  • Former CEO successfully resolves insider trading investigation by SEC after Wells SubmissionJones Day successfully defended a former CEO of a transportation company in an SEC investigation of insider trading.
  • Life sciences company resolves FCPA issues with DOJ and SECJones Day represented a publicly traded life sciences company in an internal investigation and resulting self-disclosure to the U.S. Department of Justice ("DOJ") and U.S. Securities and Exchange Commission ("SEC") involving alleged Foreign Corrupt Practices Act ("FCPA") violations arising out of the company's China operations.
  • Data technology company obtains settlement with SECJones Day represented a data technology company in an SEC investigation of fraud, books and records, and internal controls.
  • CFO of real estate investment funds obtains settlement with SECJones Day represented a CFO of real estate investment funds and partnerships throughout the course of an extensive SEC investigation.
  • Private equity adviser successfully resolves securities fraud claims by SEC after Wells SubmissionJones Day represented a private equity advisor in an SEC investigation related to fee disclosures.
  • comScore achieves successful settlement agreement with Starboard Value LPJones Day advised comScore, Inc. in its successful settlement agreement with activist shareholder Starboard Value LP.
  • Investment adviser official successfully resolves securities fraud claims by SEC after Wells SubmissionJones Day represented an investment adviser official in an SEC investigation relating to securities fraud claims.
  • Outside directors of Banc of California defend against series of derivative actions and related securities class actionJones Day is representing certain outside directors of the Banc of California, Inc. (NYSE: BANC), headquartered in Orange County, California, in connection with derivative actions and a related securities class action arising out of an internal investigation completed in 2017.
  • The Port Authority of New York & New Jersey obtains highly favorable settlement with SECJones Day client The Port Authority of New York & New Jersey obtained a highly favorable settlement with the SEC in an investigation of the Port Authority's funding of $1.8 billion in New Jersey Roadway Projects.
  • Regional bank holding company obtains favorable settlement with SECJones Day represented a regional bank holding company and its officers in an SEC investigation of books, records, and internal controls.
  • Multinational corporation conducts internal investigation of Asia operationsOn behalf of a publicly traded multinational corporation, Jones Day conducted a targeted investigation of alleged misconduct and potential violations of the Foreign Corrupt Practices Act (“FCPA”) in China, Vietnam, and Singapore.
  • Global automotive parts company successfully defends potential adverse administrative action by federal governmentJones Day represented a leading automotive parts manufacturer in defending against possible potential adverse administrative action by the Department of Defense.
  • CEO of information technology company resolves SEC investigationJones Day represented the former CEO of an information technology company in a settlement to resolve allegations related to an SEC investigation of the company's financial disclosure.
  • Pro bono client wins in D.C. Superior Court Housing Conditions CourtJones Day represented a Spanish-speaking plaintiff/tenant, Reina Ruiz, in D.C. Superior Court (the Housing Conditions Calendar) in an action to enforce the District of Columbia's housing code regulations.
  • Private equity adviser avoids securities fraud claims by SEC after Wells submissionJones Day convinced the SEC to forgo securities fraud claims against a private equity adviser that provides mezzanine investing opportunities.
  • High volume trader represented in SEC investigationJones Day is representing a high volume trader in an SEC investigation of trading by that individual.
  • Management consulting company represented in SEC investigationJones Day is representing a management consulting company in an SEC investigation concerning the company's financial disclosures, books and records and internal controls.
  • PNC Bank obtains regulatory relief under Section 943 of The Dodd-Frank Wall Street Reform and Consumer Protection ActJones Day represented PNC Bank, National Association in obtaining regulatory relief under Section 943 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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    January 2024 White Paper

    SEC Enforcement in Financial Reporting and Disclosure: 2023 Year-End Update

    October 2023 White Paper

    Considerations for Addressing DOJ's Corporate Compliance Guidance on Mobile Devices and Messaging Platforms

    August 2023 White Paper

    SEC Enforcement in Financial Reporting and Disclosure: Summer 2023 Update

    May 2023 Alert

    SEC Issues $279 Million Award to a Single Whistleblower

    April 2023 Alert

    U.S. Supreme Court Paves the Way for Challenging Agencies' Structure in Federal District Court

    April 2023 White Paper

    Insider Trading Enforcement in 2022

    January 2023 White Paper

    SEC Enforcement in Financial Reporting and Disclosure: 2022 Year-End Update

    January 2023 Commentary

    DOJ Criminal Division Announces Revisions to its Corporate Enforcement Policy

    November 2022 White Paper

    Conducting an Effective Internal Investigation: An Overview

    November 2022 Alert

    SEC Adopts Final Dodd-Frank Act Clawback Rules
    View All

    Speaking Engagements

    • June 2, 2020
      COVID-19-Related Transparency and Insider Trading Discussion – A Global Perspective
    • January 27-29, 2020
      Securities Regulation Institute – Northwestern University
    • December 9, 2019
      PLI Annual Disclosure Documents 2019: Current Developments and Best Practices
    • November 6, 2019
      51st Annual Institute on Securities Regulation – PLI
    • October 10, 2019
      PLI Hedge Fund and Private Equity Enforcement & Regulatory Developments 2019
    • September 24, 2019
      14th Annual SEC Reporting and FASB Forum for Mid-Sized and Smaller Companies
    • September 12, 2019
      PLI – Women Lawyers in Leadership 2019
    • May 8, 2019
      Enforcement 2019: Perspectives from Government Agencies
    • May 3, 2019
      Rocky Mountain Securities Conference 2019
    • April 12, 2019
      Global Capitals Markets & The US Securities Laws 2019
    • March 25, 2019
      SIFMA Legal and Compliance 2019 – Regulatory Exams and Engagement Panel
    • December 10, 2018
      PLI Annual Disclosure Documents 2018: Current Developments and Best Practices
    • November 9, 2018
      50th Annual Institute on Securities Regulation – PLI
    • October 9, 2018
      PLI Hedge Fund and Private Equity Enforcement & Regulatory Developments 2018
    • May 9, 2018
      Enforcement 2018: Perspectives from Government Agencies
    • April 18, 2018
      Global Capitals Markets & The US Securities Laws 2018
    • January 26, 2018
      PLI – Women Lawyers in Leadership 2018
    • December 11,2017
      PLI's Annual Disclosure Documents 2017: Current Developments and Best Practices
    • November 30, 2017
      PLI Hedge Fund and Private Equity Enforcement & Regulatory Developments 2017
    • May 12, 2017
      Enforcement 2017: Perspectives from Government Agencies
    • May 4, 2017
      ABA Section on Litigation Annual Conference – SEC Administrative Proceedings
    • April 19, 2017
      Global Capitals Markets & The US Securities Laws 2017
    • March 31, 2017
      The New Administration: Potential Impacts - Presentation at Manufacturers Alliance for Productivity & Innovation Finance Council Meeting
    • January 25, 2017
      PLI – Women Lawyers in Leadership 2017
    • December 12-13, 2016
      PLI's Annual Disclosure Documents 2016
    • December 1, 2016
      PLI's Hedge and Private Fund Enforcement & Regulatory Developments 2016
    • April 29, 2016
      PLI's Enforcement 2016: Perspectives from Government Agencies
    • December 18, 2015
      2015 Jones Day & Whitley Penn SEC Accounting, Legal, and Enforcement Seminar
    • December 7-8, 2015
      PLI's Annual Disclosure Documents 2015
    • November 19, 2015
      PLI's Hedge and Private Fund Enforcement & Regulatory Developments 2015
    • April 24, 2015
      PLI's Enforcement 2015: Perspectives from Government Agencies
    • December 4-5, 2014
      PLI's Annual Disclosure Documents 2014 - Chicago
    • December 1-2, 2014
      PLI's Annual Disclosure Documents 2014 - New York
    • November 18, 2014
      PLI's Hedge Fund and Private Equity Enforcement & Regulatory Developments 2014
    • April 25, 2014
      PLI's Enforcement 2014: Perspectives from Government Agencies
    • December 12, 2013
      Executive Roundtable Series - A Year-End Legislative Roundup and Forecast
    • December 2-3, 2013
      PLI’s Annual Disclosure Documents 2013
    • November 19. 2013
      PLI’s Hedge Fund and Private Equity Enforcement & Regulatory Developments 2013
    • April 26, 2013
      PLI’s Enforcement 2013: Perspectives from Government Agencies
    • March 6. 2013
      PLI’s Hedge Fund Enforcement & Regulatory Developments Winter 2013
    • December 6-7, 2012
      PLI’s Annual Disclosure Documents 2012: Preparation of Disclosure Documents, Annual Meeting and Regulatory Developments - Chicago
    • December 3-4, 2012
      PLI’s Annual Disclosure Documents 2012: Preparation of Disclosure Documents, Annual Meeting and Regulatory Developments - New York
    • October 31, 2012
      Hedge Fund Enforcement & Regulatory Developments 2012
    • June 26, 2012
      PLI's Internal Investigations 2012: How to Protect Your Clients or Companies -- Concluding the Investigation
    • May 30, 2012
      PLI’s JOBS Act 2012: What You Need to Know Now
    • April 18, 2012
      PLI’s Enforcement 2012: Multi-Agency Enforcement Efforts
    • April 13, 2012
      The Perspective From the Defense, Rocky Mountain Securities Conference
    • March 22, 2012
      Insider Trading Enforcement: Current Trends and Risk Mitigation, ABA Business Law Section Spring Meeting
    • March 15, 2012
      Expert Roundtable on Today's Hot Compliance Topics, IA Compliance Best Practices Summit 2012
    • January 10, 2012
      Jones Day Texas Asset Management Forum
    • December 12, 2011
      PLI's Hot Issues in Securities Laws 2011: Disclosure Documents and Trends - Chicago
    • December 8, 2011
      Avoiding SEC Problems, Jones Day Columbus CLE University
    • December 7, 2011
      Executive Roundtable Series - Taking on the Government: Litigation Against the Executive and Legislative Branches
    • December 5, 2011
      PLI's Hot Issues in Securities Laws 2011: Disclosure Documents and Trends - New York
    • December 2, 2011
      The SEC: Managing Your Legal and Reputational Risk
    • November 21, 2011
      PLI’s Hedge Fund Enforcement & Regulatory Developments 2011
    • October 28, 2011
      FCPA and the SEC- Version 2011, ABA-CLE The National Institute on the FCPA 2011
    • September 21, 2011
      The Whistleblower Provisions: Is Your Company Ready?, Dow Jones Conferences
    • August 26, 2011
      State Bar of Texas, Recent Developments in Securities Litigation and FCPA Enforcement
    • August 11, 2011
      The Dodd Frank P.S.: Living with Whistleblowers in a New Era of SEC Enforcement
    • July 29, 2011
      State Bar of Texas, Recent Developments in Securities Litigation and FCPA Enforcement
    • June 27, 2011
      First Clearing Compliance Roundtable: SEC and Regulatory Reform: Yesterday, Today and Tomorrow
    • May 31, 2011
      Insights - Advanced Mergers and Acquisitions Widening the Net: Insider Trading Review
    • May 19, 2011
      Jones Day MCLE University - Chicago
    • May 16, 2011
      Diane Rehm Show: The Crackdown on Insider Trading
    • May 16, 2011
      Diane Rehm Show: The Crackdown on Insider Trading
    • May 12, 2011
      SEC Enforcement Trends and Developments
    • April 29, 2011
      PLI’s Enforcement 2011: Multi-Agency Enforcement Efforts in the New Decade
    • April 14, 2011
      Perspectives on SEC Enforcement Initiatives
    • April 12, 2011
      Directors Roundtable Series: Practical Information and Discussion on Challenges Companies Face under the Dodd-Frank Act
    • April 7, 2011
      Annual Spring Asset Management Thought Leadership Symposium, Regulatory Compliance Association
    • April 6, 2011
      ABA Section of International Law Whistleblowers: What Protections and Forms of Relief are Available for Foreign-based Employers
    • March 30, 2011
      Investment Company Institute and Federal Bar Association Evolution of OCIE and Enforcement under Chairman Schapiro
    • January 19, 2011
      Sandpiper Partners: SEC Hot Topics 2011
    • December 15, 2010
      Executive Roundtable Series - A Year-End Legislative Roundup and Forecast
    • December 13-14, 2010
      PLI’s Hot Issues in Securities Law 2010: Disclosure Topics and Trends & How to Prepare for the Upcoming Proxy Season (COMBO)
    • December 10, 2010
      Risking It All, a behind-the-scenes look at a simulated internal investigation, panelist, PwC Tenth Annual Technical Update
    • December 9, 2010
      PLI’s Hot Issues in Securities Law 2010: Disclosure Topics and Trends
    • November 30, 2010
      Potential Effects on Public Companies of the Whistleblower Provisions of Dodd Frank and the SEC Cooperation Initiative, Washington D.C. Bar
    • November 22, 2010
      PLI’s Hedge Fund Enforcement & Regulatory Developments 2010
    • November 12, 2010
      Global Financial Architecture - Harmonizing Financial Reform Legislation: EU, Asia and US Proposals, Journal of Business Law Fall 2010 Symposium, University of Pennsylvania Law School
    • November 3, 2010
      Investigations and Enforcement - New Processes and Technology Drive Priorities in 2011, RCA Asset Management Thought Leadership Symposium-
    • October 24, 2010
      CFO Rising West: Director Boot Camp
    • September 16, 2010
      Impact of Dodd-Frank on SEC Enforcement, New York City Bar

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