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T: +1 415.393.8332
F: +1 415.374.8440

San Francisco Office
555 Mission Street
Suite 3000
San Francisco, CA 94105-0921, USA


​Marc Fagel is a partner in Gibson, Dunn & Crutcher’s San Francisco office.  He is Co-Chair of the Firm’s Securities Enforcement Practice Group and a member of the White Collar Defense Practice Group.  Mr. Fagel’s practice focuses on the representation of public companies and their officers and directors, as well as financial institutions, investment advisers, hedge funds, private equity firms, broker-dealers, accounting firms and others in investigations and examinations conducted by the Securities and Exchange Commission, as well as by the Department of Justice, FINRA, and other regulatory bodies.  Mr. Fagel also conducts internal investigations and represents clients in related civil actions.

Prior to joining the Firm, Mr. Fagel spent over 15 years with the SEC's San Francisco Regional Office, most recently serving as Regional Director from 2008 to 2013. In his role as Regional Director, he was responsible for administering the SEC's enforcement and examination programs for Northern California, Washington, Oregon, Alaska, Montana and Idaho, managing a staff of more than 100 lawyers, accountants, and other professionals.  Before his appointment as Regional Director, Mr. Fagel served as Associate Regional Director in charge of enforcement.   

While at the SEC, Mr. Fagel conducted, supervised and oversaw hundreds of investigations in nearly every major subject area of the SEC's enforcement program, including public company disclosure and reporting; the Foreign Corrupt Practices Act (FCPA); insider trading; and investigations of major financial institutions, investment advisors, hedge funds and broker-dealers.  He was at the forefront of the SEC's initiative on stock option backdating and oversaw some of the largest securities fraud cases filed in the Pacific Northwest. 

Before joining the SEC, Mr. Fagel spent six years as an associate at a large national law firm, where he specialized in representing technology companies and their officers and directors in securities fraud class action litigation. Mr. Fagel received his undergraduate degree from Princeton University and graduated in 1991 with Honors from the University of Chicago Law School, Order of the Coif.

Mr. Fagel currently serves on the Board of Directors of the Law Center to Prevent Gun Violence and the Board of Advisors of the SEC Historical Society, and has previously served on the Board of Directors of Jewish Family and Children's Services of San Francisco and the ACLU of Northern California.​​

Selected Speaking Engagements

  • “Staying Out Of Trouble: SEC Enforcement Results for FY 2016,” Practicing Law Institute, 32nd Midyear SEC Reporting & FASB Forum (San Francisco, CA, June 2017)​

  • “Regulatory Enforcement Actions Before Administrative Law Judges,” American Bar Association, Litigation Section Annual Conference (San Francisco, CA, May 2017)

  • “How the Law May (or May Not) Change Under the Trump Administration,” Federal Bar Association (San Francisco, CA, Apr. 2017)

  • “Real Life Issues Facing Counsel: The Road to Enforcement,” Northwestern University School of Law, 44th Annual Securities Regulation Institute (Coronado, CA, Jan. 2017)

  • “SEC & PCAOB Updates (Moderator),” Center for Corporate Reporting Governance, Legal & Financial Reporting Update for Public Companies (Irvine, CA, Sept. 2016)

  • “Staying Out of Trouble: SEC Enforcement Results for FY 2015,” Practicing Law Institute, 31st Midyear SEC Reporting & FASB Forum (San Francisco, CA, June 2016)​

  • “Regional Directors Panel,” Securities Docket, Securities Enforcement Forum West 2016 (San Francisco, CA, May 2016)

  • “Enforcement Update: The Defense Perspective,” Colorado Bar Association, Rocky Mountain Securities Conference (Denver, CO, May 2016)

  • “Compliance Strategies for Private Real Estate Fund Managers,” Gibson Dunn public presentation (Online webinar, Nov. 2015)

  • “SEC & DOJ Enforcement Trends,” Bay Area Ethics & Compliance Association (Foster City, CA, Sept. 2015)

  • “SEC & PCAOB Updates (Moderator),” Center for Corporate Reporting Governance, Top Trends Shaping Capital Markets (Irvine, CA, Sept. 2015)

  • “Staying Out Of Trouble: SEC Enforcement Renews Focus on Accounting Cases,” Practicing Law Institute, 30th Midyear SEC Reporting & FASB Forum (San Francisco, CA, June 2015)

  • “Regional Directors Panel,” Securities Docket, Securities Enforcement Forum West 2015 (San Francisco, CA, May 2015)

  • “Current Enforcement Trends: The Defense Perspective,” Colorado Bar Association, Rocky Mountain Securities Conference (Denver, CO, May 2015)

  • “SEC Administrative Proceedings: What Now?” American Bar Association, Current Issues in Securities Litigation (San Francisco, CA, Feb. 2015)

  • “Staying Out of Trouble—SEC Enforcement and Litigation Update,” Practicing Law Institute, 30th Annual SEC Reporting & FASB Forum (San Francisco, CA, Dec. 2014)

  • “Hot Button Enforcement and Regulatory Issues for Private Funds,” Practicing Law Institute, Hedge and Private Fund Enforcement and Regulatory Developments 2014 (New York, NY, Nov. 2014)

  • “Financial Reporting Risks & Trends,” National Association of Corporate Directors, Corporate Governance Next Practices & General Counsel Forum (Las Vegas, NV, Oct. 2014)

  • “SEC & PCAOB Updates (Moderator),” Center for Corporate Reporting & Governance, 13th Annual SEC Financial Reporting Conference (Irvine, CA, Sept. 2014)

  • “Staying Out of Trouble:SEC Enforcement Update,” Practicing Law Institute, 10th Annual SEC Reporting Forum for Mid-Sized Companies (Las Vegas, NV, Sept. 2014)

  • “The Impact of Dodd-Frank on Private Equity Firms,” Private Equity Association of Los Angeles (Los Angeles, CA, May 2014)

  • “West Coast SEC Directors Roundtable,” Securities Docket (San Francisco, CA, May 2014)

  • “Corporate Governance & SEC Enforcement: Public Company Hot Topics for 2014,” Bar Association of San Francisco (San Francisco, CA, April 2014)

  • “Staying Out Of Trouble:SEC Enforcement Update,” SEC Institute, 29th Annual SEC Reporting and FASB Forum (San Diego, CA, November 2013)

  • “Best Practices in Electronic Surveillance,” ACA Compliance Group, Fall 2013 Compliance Conference (San Francisco, CA, October 2013)

  • “Insider Trading & Hedge Funds,” Reuters HedgeWorld West (Half Moon Bay, CA, October 2013)

  • “Whistleblower Laws and Investigations: Strategies and Practical Considerations for Counsel to Handle Employer Retaliation Claims,” Center for Competitive Management (Webcast, October 2013)

  • “Expert Roundtable on Today’s Hot Compliance Topics,” IA Watch, Fall Compliance Best Practices Summit (Beverly Hills, CA, October 2013)

  • “SEC Enforcement:  Where Is It Headed Now?” Society of Corporate Secretaries and Governance Professionals, 67th National Conference (Seattle, WA, July 2013)


  • University of Chicago - 1991 - Juris Doctor
  • Princeton University - 1988 - Bachelor of Arts


  • California Bar

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