Federal securities matters · Preparation guide
Market Manipulation Investigations: Trading, Communications and Individual Roles
A trading pattern, promotional campaign and individual employment history may overlap without describing the same thing. Build separate, traceable records for counsel.
By Joseph De Gregorio · Federal Sentencing Strategist
Founder and President, Sentencing Advocacy Group
Published November 5, 2026
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Maintain the order and execution history
Where counsel authorizes collection, identify orders, cancellations, executions, accounts and timestamps with their original sources. Record time zones and known system differences. A price chart alone may omit the underlying order history. Do not transform technical data into an assertion of intent or responsibility without the appropriate professional analysis.
Version communications and promotions
Preserve dated drafts, approvals and distributed versions of public statements or promotional material. Identify authorship and approval only where supported. A document appearing in a shared folder does not establish that every team member wrote or approved it. Keep later corrections separate from the material originally distributed.
Map individual responsibilities
Identify who held which position during each period, the documented authority and relevant changes. Separate employees, contractors, issuers and outside promoters rather than treating them as one undifferentiated group. Counsel evaluates legal attribution and any disputes. SAG’s organizational work can expose unanswered factual questions without assigning blame.
Build a stage-appropriate preparation plan
During investigation, the priority may be a clear role chronology and practical schedule alongside counsel. After a conviction or plea, the assignment may include PSR preparation, verified corrective measures and financial disclosures. Neither a market chart nor a personal account establishes the eventual sentence. The written engagement should match the actual case stage.
Sources and the next preparation question
SEC: How Investigations Work. Source checked November 5, 2026. Counsel evaluates the governing law and individual facts.
Can a price chart alone explain my role?
No. It does not substitute for the underlying records or establish an individual’s responsibility. Counsel and relevant experts evaluate what the data supports.
A defined preparation assignment
Work directly with Joseph to establish the scope, source records, authorized recipients and review dates. Agreed deliverables can include a personal-history chronology, an indexed supporting file, factual questions and a practical preparation schedule. Investigation-stage legal decisions require qualified federal defense counsel. An engagement with SAG does not automatically establish privilege.
SAG serves clients nationally from Freehold, New Jersey, with travel arranged for cases. Share your stage and next deadline in the initial inquiry. Do not upload investigative records, investor details or privileged advice.
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SAG is not a law firm and does not provide legal advice or representation. Courts and agencies determine outcomes. No charging decision, sentence or release date is guaranteed.