SEC Names New Unit Chiefs and Head of Office of Market Intelligence

Funds & Advisers

Jan. 13, 2010 -- Continuing its commitment to strengthening its resources, the SEC announced a new Office of Market Intelligence and several new additions to the recently reorganized Division of Enforcement.

The newly formed Office of Market Intelligence will handle the hundreds of thousands of tips, complaints and referrals the SEC receives each year. Thomas A. Sporkin, formerly the Deputy Chief in the SEC’s Office of Internet Enforcement, will head this office.

As you may remember, in September 2009 Robert Khuzami announced the creation of five specialized units under the Division of Enforcement that would be dedicated to areas the SEC identifies as “high-priority.” The SEC hired from within in staffing each unit. The new unit chiefs are as follows:

The Asset Management Unit will be led by two chiefs, Bruce Karpati and Robert B. Kaplan. This unit will work closely with the Office of Compliance Inspections and Examinations in focusing on advisers, investment companies, hedge funds and private equity funds.

Daniel M. Hawke will lead the Market Abuse Unit. This group is dedicated to large-scale market abuses and complex manipulation schemes.

The Structured and New Products Unit was formed to deal with the ever-increasing complex derivates market, covering credit default swaps, collateralized debt obligations, and securitized products. This unit will be headed by Kenneth R. Lench.

The Foreign Corrupt Practices Act governs US companies’ ability to operate in foreign countries, and prohibits bribery of foreign officials. This unit will be led by Cheryl. J. Scarboro.

Finally, the Municipal Securities and Public Pensions Unit will oversee the municipal securities market and misconduct in the public pension plan arena. Elaine C. Greenberg will head up this unit.










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