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Desktop Image: Bensky, Eric
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Eric A. Bensky

Partner

T 202.220.1937 Washington, D.C.
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Eric focuses on securities litigation and enforcement, with an emphasis on representing prime brokers, clearing firms, and other broker-dealers. Eric leads the securities enforcement practice within the firm's financial services group. He advocates for clients in federal and state courts, FINRA Dispute Resolution Services and other self-regulatory organization (SRO), JAMS, and AAA arbitration proceedings, and Securities and Exchange Commission (SEC) and SRO investigations and disciplinary proceedings.

Eric has extensive experience in investigations and litigation in the wake of Ponzi schemes and other financial crises and scandals. He has represented bulge bracket brokerage firms, as well as smaller brokerage firms and their registered representatives, supervisors and other employees. Other clients have included a leading national and international bank, a major mutual fund complex, public companies and their officers and directors, individuals and entities suspected of or charged with potential insider trading violations, investment advisory firms, and hedge funds.

Eric was a shareholder at McGonigle, P.C., before the firm combined with Davis Wright Tremaine.

Practice Highlights

Broker-dealer litigation and enforcement

Eric has extensive experience representing prime brokers, clearing firms and other broker-dealers in proceedings and investigations involving margin (including portfolio margin), direct market access (DMA), Regulation SHO, and anti-money laundering (AML).

Ponzi scheme fallout

Eric has represented institutional clients in lawsuits (including clawback litigation) and regulatory inquiries arising out of the Bernard L. Madoff Investment Securities Ponzi scheme, the Arthur Nadel Ponzi scheme, the Thomas Petters Ponzi scheme, the Rajiv Patel Bluprint Ponzi scheme, the Bradley Ruderman Ponzi scheme, the Samuel Israel III Bayou Ponzi scheme, the John Natale Cambridge Partners Ponzi scheme, the E. Thomas Jung Strategic Income Fund Ponzi scheme, and the Marvin Goodman metals trading Ponzi scheme.

Financial crises and scandals

Eric has handled lawsuits and regulatory inquiries arising out of significant events in the financial industry, such as the January 2021 meme stock trading events, the February 2018 Volmageddon market disruption, the mortgage-backed securities financial crisis, the stock options backdating scandal, the mutual funds market timing and late-trading scandal, and the Nasdaq market makers odd-eighths investigation.

Large registered investment adviser

Litigated five-day AAA arbitration hearing that resulted in award rejecting claimant retail customer's claims alleging breach of fiduciary duty and other causes of action relating to losses on options trading strategies. (2024)

Large broker-dealer

Secured dismissal of New York Supreme Court complaint alleging brokerage firm caused plaintiff investor's loss of money invested with fraudster who conducted high risk trading in wife's brokerage account. (2024)

Forex dealer member, large broker-dealer, and registered representative*

Litigated five-day National Futures Association (NFA) arbitration hearing that resulted in unanimous award rejecting foreign currency exchange (forex) trader's $12 million claim alleging improper margin liquidation. (2022)

Registered representative/investment adviser representative

Has obtained several awards recommending expungement of individuals' customer complaint disclosures from Central Registration Depository (CRD) and Investment Adviser Registration Depository (IARD) reports. (2022,* 2023, 2024)

VP of Finance for hedge fund management company*

Prepared Wells submission refuting proposed securities fraud and Reg. SHO violations relating to hedge funds' convertible bond and related stock trading, resulting in letter from SEC staff advising that investigation concluded with no enforcement action against client. (2021)
*Denotes an attorney's experience prior to joining Davis Wright Tremaine
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Admitted to Practice

  • New York, 1997
  • District of Columbia, 1998
  • U.S. Court of Appeals, 2nd Circuit, 2011
  • U.S. Court of Appeals, 3rd Circuit, 1998
  • U.S. Court of Appeals, 11th Circuit, Inactive
  • U.S. District Court, District of Columbia, 1998
  • U.S. District Court, Eastern District of New York, 2006
  • U.S. District Court, Southern District of New York, 2007

Education

  • J.D., University of Chicago Law School, 1996, with honors
  • B.A., University of Michigan, 1993, with high honors and high distinction

Memberships & Affiliations

    • SIFMA Compliance & Legal Society
    • Chair, Board of Directors, National Homelessness Law Center, 2019-2024
    • Board of Directors, National Homelessness Law Center, 2013-2024
    • Board of Directors, Northwest Washington Little League, 2019-2024
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