Douglas Yatter is a partner in the New York office of Latham & Watkins. He is Co-Chair of the Commodities and Derivatives Regulation and Enforcement Practice and a member of the White Collar Defense & Investigations Practice and the Financial Institutions and Energy Industry Groups. Mr. Yatter advises clients across the financial services industry and the energy and agricultural sectors in government and internal investigations, litigation, and regulatory matters. As a founding member of Latham’s Global Blockchain & Cryptocurrency Task Force, he advises cryptocurrency clients on their most significant regulatory and enforcement matters.
As a former Chief Trial Attorney in the Division of Enforcement of the US Commodity Futures Trading Commission (CFTC), Mr. Yatter's experience with commodities regulation enables him to assist large financial institutions, commodity trading firms, energy companies, fintech ventures, and other clients in navigating a complex and rapidly developing regulatory and enforcement environment. He also draws on his experience to represent clients in class actions and other litigation involving claims of manipulation or collusion in benchmarks and financial products.
At the CFTC, Mr. Yatter was a leader of two of the agency’s highest profile enforcement matters, including both the ISDAFIX benchmark investigation and the investigation of the collapse of MF Global. He also conducted and supervised various other matters involving violations of the Commodity Exchange Act and CFTC regulations, including fraud, manipulation, false reporting, spoofing, trade practice abuses, customer protection, insider trading, and cybersecurity. His work addressed swaps, futures, and other derivatives across various markets, often in coordination with the Department of Justice (DOJ), the Securities and Exchange Commission (SEC), the National Futures Association (NFA), and other domestic and international authorities. In all, his cases resulted in orders for sanctions totaling nearly US$1.6 billion.
In addition to commodities, Mr. Yatter advises clients in the securities industry on SEC and FINRA investigations. He has extensive experience advising corporations and boards in Foreign Corrupt Practices Act (FCPA) investigations, as well as insider trading and securities fraud matters.
Mr. Yatter’s cryptocurrency practice includes advising clients on a range of compliance, advocacy, and enforcement matters at the forefront of regulatory developments involving digital assets and distributed ledger technology (DLT). His recent matters in this sector have included investigations by the CFTC, SEC, and Department of Justice on regulatory compliance for token offerings, centralized and decentralized trading platforms, insider trading, and market manipulation.
In his extensive civil litigation practice, Mr. Yatter represents clients in federal and state courts and arbitration proceedings in a wide array of complex matters, including securities and shareholder derivative suits, antitrust cases, and transactional disputes.
In 2019, Mr. Yatter was co-lead trial counsel for DXC Technology in the arbitration of a post-merger dispute against Hewlett Packard Enterprise, winning a US$666 million award for DXC. In the past year, he also represented a global bank in the successful defense of two class actions alleging manipulation and collusion in connection with interest rate benchmarks and related derivatives, obtaining complete dismissals in both cases.
Mr. Yatter serves on the Advisory Board of NYU School of Law’s Program on Corporate Compliance & Enforcement and the Board of Directors of the Fund for Modern Courts. He is a Fellow of the American Bar Foundation and a member of the ABA Derivatives & Futures Law Committee and the Futures Industry Association Law & Compliance Division. Early in his career, he clerked for Judge Dennis Jacobs of the US Court of Appeals for the Second Circuit.
Mr. Yatter is a frequent speaker on enforcement topics and industry trends, including cryptocurrencies, artificial intelligence, and other areas of innovation.