RANAH ESMAILI is a member of the firm’s global Securities Enforcement and Regulatory practice, which is highly ranked in Chambers USA for Securities Regulation: Enforcement, and was named the “Law Firm of the Year” for Securities Regulation in 2020 and 2017 by U.S. News – Best Lawyers®. Ranah’s practice focuses on representing private fund managers, registered fund advisers and trustees, investment advisers to individuals and separately managed accounts, and broker dealers in regulatory and government investigations and examinations. She also provides advice and counseling to clients on a wide range of securities regulatory matters, including conflicts of interest and disclosure, fees and expense practices and disclosure, mutual fund share class selection and disclosures, material non-public information, off-channel communications, and ESG disclosures and compliance.
Ranah joined Sidley in 2021 from the U.S. Securities and Exchange Commission’s (SEC) Enforcement Division, where she served as assistant director of the Asset Management Unit. In that role, she oversaw investigations relating to the activities of hedge funds, private equity funds, venture capital funds, registered investment companies, separately managed accounts, and their investment advisers.
Prior to her time with the SEC, Ranah was counsel at a leading global law firm where she represented financial institutions, domestic and foreign corporations, and special committees in civil litigation matters, internal and government investigations, and enforcement matters before the SEC, the Department of Justice (DOJ), and the Commodity Futures Trading Commission.
During her tenure at the SEC, Ranah brought significant and groundbreaking enforcement actions, including first-ever enforcement actions against a digital asset hedge fund manager, and a mutual fund adviser for undisclosed conflicts related to securities lending recall practices. She also supervised an enforcement action resulting in one of the SEC’s largest-ever hedge fund settlements. Ranah also developed and led sweeps and initiatives focused on asset management industry practices, including on issues related to securities lending and ESG disclosures. She also served in multiple policy roles within the Division of Enforcement, including a detail as counsel to the Directors of Enforcement and senior advisor to the Asset Management Unit. Before joining the Asset Management Unit, Ranah conducted investigations relating to conduct by public company issuers, audit companies, and municipal bond offerors.