The Securities and Exchange Commission often picks its top cop from the ranks of Wall Street’s best defense lawyers. Its newest one hadn’t worked on a securities case in almost six years until he took on the job in July.
Since taking over at the Wall Street watchdog, Mr. Grewal has signaled higher fines for wrongdoing are on the horizon, along with efforts to remove more malefactors from Wall Street jobs. “We can’t arrest them,” Mr. Grewal said in an interview. “We can get them out of the industry.”
Source: SEC Lures Top Enforcer Who Says Tougher Punishment Is Coming – WSJ