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Steven S. Scholes is a partner in the law firm of McDermott Will & Emery LLP based in the Firm's Chicago office. He is the head of the Chicago Trial Department and Chairman of the Firm's SEC Defense Group. Steve concentrates his trial practice in all varieties of securities and other complex commercial litigation. He has tried civil, criminal and administrative cases in federal and state courts, and he regularly represents clients before the Securities and Exchange Commission and self-regulatory organizations, such as the Financial Industry Regulatory Authority, the Public Company Accounting Oversight Board and numerous stock, options and futures exchanges.
A former attorney in the Securities and Exchange Commission's Division of Enforcement, Steve frequently speaks on securities litigation and enforcement topics. He has appeared numerous times in the press and has authored various materials concerning the federal securities laws. In addition, Steve has served as a faculty member for the National Institute of Trial Advocacy. He also serves on the Business Conduct Committee of the Chicago Mercantile Exchange as well as on the Board of Visitors of the University of Illinois College of Law.
Steve has been appointed by three different federal judges in Chicago to serve as receiver in SEC civil enforcement proceedings. His work as receiver included conducting fraud investigations, pursuing litigation against collateral participants, enforcing judgments, marshalling and liquidating assets, and developing and implementing plans of distribution.
Steve is a member of the bar of the United States Supreme Court, the State of Illinois, the U.S. Court of Appeals for the Second, Seventh and Eighth Circuits, the U.S. District Courts for the Northern District of Illinois (trial bar), the Northern District of Indiana, the Eastern District of Wisconsin and the Central District of Illinois. He is also a member of the American Bar Association's Federal Regulation of Securities Committee, as well as its Subcommittees on Criminal Laws and Civil Litigation and SEC Enforcement Matters. He is a past co-chair of the Chicago Bar Association's Securities Law Committee (2001-2002) and the Securities Law Committee's Subcommittee on SEC Litigation and Enforcement (1999-2000). He is also a member of the Compliance and Legal Division of the Securities Industry Association, the Association of SEC Alumni, as well as the Futures Law Committee, and Financial and Investment Services Committee of the Chicago Bar Association.
Education
University of Illinois College of Law, J.D. (cum laude), 1985
Eastern Illinois University, B.A. (with highest distinction), 1981 | 