Investor-Focused, Nimble and Vigorous Enforcement at the SEC

Third, a thank you to Stephanie Avakian, who you will hear from in a few moments.[1] Stephanie was the Acting Director of Enforcement when I arrived. I had not previously met her. Many people expressed interest in the Director position. Well, to make a long story short, it was quickly apparent to me that Steve Cutler’s description of the Division was correct and, importantly, the well-functioning subsidiary already had an effective and well-respected leader in Stephanie. Here, I’ll share an anecdote. A friend who knew Stephanie professionally said to me, “do not interview her if you don’t want to hire her.” That was unassailably correct advice, but, as a practical matter, unnecessary because, in reality, it was the other way around. Stephanie was interviewing me, on behalf of herself and the career staff of the Division. And, Stephanie, I thank you and your colleagues, for continuing your invaluable service and, in a sense, hiring me.

With that context, I will provide some reflections on the oversight, management and performance of the Enforcement Division and highlight a few examples where the work of the Division has yielded significant, long-term benefits to U.S. investors, including shaping our regulatory agenda and informing our rulemaking.

via | Investor-Focused, Nimble and Vigorous Enforcement at the SEC.