Clifford C Histed


70 West Madison Street, Suite 3300
Chicago, IL 60602-4207

United States of America

Cliff Histed represents companies and individuals operating in highly-regulated industries, including in the areas of financial markets and health care, during both criminal and regulatory proceedings, and in representing clients in litigation and at trial.

Mr. Histed is a former supervisory federal prosecutor, supervisory enforcement lawyer with the Commodity Futures Trading Commission, and special agent with a federal Inspector General’s Office. He has 30 years’ experience investigating, prosecuting, and defending business frauds and criminal offenses in regulated industries, including the securities markets, the agricultural and financial futures markets, and health care. He has supervised more than a dozen assistant U.S. attorneys in their investigation and trial of criminal fraud cases, and has tried 27 jury and nonjury cases, both criminal and civil, in federal and state courts. He has briefed eleven matters before the Second and Seventh Circuit Courts of Appeals, and argued eight of those appeals. He is a member of the K&L Gates Trial Academy and is a member of its steering committee.

Mr. Histed has conducted or supervised hundreds of investigations and prosecutions, including those involving allegations of bribery, embezzlement and internal fraud, trade secret theft, obstruction of justice, and trading offenses such as insider trading, price manipulation in agricultural and energy futures markets, wash sales, and abusive forms of high-frequency trading, including the case U.S. v. Michael Coscia, the first case to charge the disruptive trading practice known as “spoofing” as a crime. Many of these investigations involved parallel proceedings brought by federal regulatory agencies, futures exchanges, bankruptcy trustees, or private litigants.

Mr. Histed speaks and writes frequently on the topic of futures and securities trading, and on regulation of cryptocurrencies. Notable publications that have quoted him include Bloomberg News, Chicago Lawyer, Crain’s Chicago Business, Law360, Institutional Investor, Forbes, Fortune, and the New York Times.

Mr. Histed has a very active pro bono practice, and has provided legal services to the Illinois Torture Inquiry and Relief Commission and Clemency Project 2014. He is a member of the Criminal Justice Act Panel for the U.S. District Court for the Northern District of Illinois which provides representation to indigent clients charged with federal criminal offenses.
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