Scott E. Walster

Principal, Chicago

(312) 933-4400


Securities, Valuation, and General Damages; Financial Regulation

BS degrees in Economics and Finance from the University of Illinois at Chicago

Scott E. Walster is a Principal in the securities and financial regulation practices at
Global Economics Group.

Most recently, Mr. Walster served as Assistant Director in the Division of Economic and
Risk Analysis of the US Securities and Exchange Commission (SEC). While at the SEC,
Mr. Walster supervised and performed economic analysis for hundreds of enforcement
actions. His work focused on the economics of spoofing and high frequency trading
market manipulations; insider trading; securities lending; corporate disclosure; and
investment adviser “cherry picking” and churning frauds. The economic advice he
provided was used to help determine investor damages, ill-gotten gains, and corporate
penalties – as well as to distribute money back to investors through Fair Funds.

Mr. Walster has provided live and written expert testimony on matters involving portfolio
performance, derivative trading strategies, and market manipulations. He was part of a
team that received the SEC’s Analytical Methods Award – an award presented annually
for innovative analytical work – for a large-scale statistical analysis that was used to
identify dozens of participants in an insider trading ring. 

Mr. Walster has advised and provided testimony for the US Department of Justice on a
number of criminal securities fraud investigations and trials; and he has advised the
Commodity Futures Trading Commission and the Federal Trade Commission on

Prior to joining the SEC, Mr. Walster spent nearly a decade managing consulting teams
supporting litigation and regulatory matters, including a previous stint at Global
Economics Group during which he helped develop the firm’s securities fraud and
valuation practices. Mr. Walster received B.S. degrees in Economics and Finance from
the University of Illinois at Chicago where he graduated with university honors and
highest distinction in Finance.

Our experts have worked on some of the most significant legal and regulatory matters of the last quarter-century.