The SEC is often a temporary stop for lawyers who then go into private practice, frequently to defend corporations from the agency. Mr. Friestad, an Iowa native, stayed for 23 years. Colleagues said he relished the work and was a widely admired mentor.
“He didn’t pound the table and try to get the highest penalty; he tried to get to the right outcome,” said Daniel Hawke, a former SEC colleague who is now a partner at the law firm of Arnold & Porter in Washington.
‘Enforcement 40’ for 2020
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