Chad E. Silverman

Mr. Silverman has extensive experience in investigations into global financial institutions on a variety of issues, including those involving the Commodity Futures Trading Commission (CFTC), the Securities and Exchange Commission (SEC), the U.S. Department of Justice (DOJ), and other government authorities and self-regulatory organizations.

Mr. Silverman also regularly counsels clients on compliance issues relating to the futures, swaps and digital asset markets, including with regard to futures commission merchant (FCM) and swap-dealer rules and guidance. He also assists clients in responding to National Futures Association (NFA) and SEC examinations and advises on regulatory and transactional matters with a nexus to derivative products and crypto assets.

Mr. Silverman’s representations include:

• an event contracts platform as plaintiff in an action filed in the U.S. District Court for the District of Nevada that sought a permanent injunction to stop the Nevada Gaming Control Board from blocking the trade of derivative contracts based on sporting events
• a global financial institution in concluding and settling an NFA enforcement action alleging noncompliance with CFTC supervision, variation margin and pre-trade mid-market mark disclosure rules and the NFA’s recordkeeping rules
• a food and agriculture company in connection with a CFTC civil enforcement investigation into its anti-money laundering program
• a global financial institution in securing the resolution of a CFTC investigation concerning the company’s traditional and block-trading futures brokerage businesses
• a global investment management firm in connection with a CFTC enforcement matter, including an investigation of the firm’s trading strategies and risk management techniques
• the former head of a major financial institution’s global precious-metals trading desk in securing the acquittal of all racketeering and conspiracy charges in a five-week criminal trial in the U.S. District Court for the Northern District of Illinois
• a financial institution in securing the settlement of a CFTC investigation concerning alleged wash sales and related supervision issues
• two financial institutions in securing the favorable resolution of a three-year investigation by the CFTC and New York Offce of the Attorney General regarding claims of false representation and violations of the Martin Act, New York State Penal Law and New York State Executive Law
• a cryptocurrency exchange in reaching the successful resolution of a federal criminal investigation filed in the U.S. District Court for the Southern District of New York
• a multinational banking and financial services corporation in connection with an investigation by the SEC regarding potential violations of the SEC regulations relating to security-based swap reporting
• a global financial institution in reaching the settlement of an enforcement action by the CFTC involving compliance with supervision, swap data reporting and pre-trade mid-market mark disclosure rules
• a global financial institution in successfully settling a CFTC investigation related to its Dodd-Frank compliance and swap transaction reporting programs
• a global financial institution in an CFTC resolution relating to swaps reporting issues and reporting requirements under the Commodity Exchange Act

Prior to rejoining Skadden in 2015, Mr. Silverman was a senior trial attorney at the CFTC, where he led investigations concerning a wide range of topics involving the application of the Commodity Exchange Act and Commission regulations to commodities, swaps, digital assets and other derivatives markets. His role included leading litigation as well as coordinating efforts with various U.S. attorney’s offices and the SEC. His cases included investigations into the protection of customer funds, manipulation of interest rate benchmarks through swaps trading and false submissions, as well as manipulation involving natural gas derivatives.