SEC enforcement director to step down

The SEC is already losing its chair by the end of the year – and now another top official is leaving as well

SEC enforcement director to step down
The Securities and Exchange Commission is losing yet another of its top officials.

SEC Chair Mary Jo White announced last month that she would step down from her role at the agency prior to the beginning of the Trump administration. Now Enforcement Director Andrew J. Ceresney has announced that he will be departing as well.

Ceresney has headed the SEC’s Enforcement Division for nearly four years. During his tenure, the division “brought significant cases across the entire spectrum of the securities industry,” according to the SEC. Under Ceresney’s leadership, the division hit record numbers of enforcement actions.

“Under Andrew’s strong leadership, the Enforcement Division took its already robust enforcement program to an even higher level, achieving unprecedented results, including a record number of enforcement actions, first-of-their-kind cases and a first-ever admissions policy for a civil law enforcement agency,” White said. “Andrew’s tremendous work ethic, commitment to do what is right, and deep dedication to his entire team have made him an incredibly effective leader. America’s investors and our markets have been extremely fortunate to have him fighting in their corner for the last four years. And I am very grateful for his wise counsel, impeccable judgment and expertise.”

“My time as Enforcement Director has been the highlight of my career, allowing me to work closely with the extremely talented and dedicated group of professionals in the SEC’s Enforcement Division,”
Ceresney said. “I am immensely proud of what we have accomplished together – our innovative and wide-ranging actions have protected investors, deterred misconduct, and sent the message that the SEC is and always must be the tough cop on the financial beat. I am particularly grateful to Chair White for the opportunity to work under her leadership and her deep commitment to strong enforcement to protect investors and our markets.”

During Ceresney’s tenure, the SEC filed more than 2,850 enforcement actions and obtained judgments and orders of more than $13.8 billion.