SEC Division of Enforcement Director Stephanie Avakian will step down from her position by the end of the year. Marc P. Berger, currently the Division of Enforcement Deputy Director, will serve as Acting Director.
Among other accomplishments, Ms. Avakian is credited with leading the Division of Enforcement in (i) recommending more than 3,000 enforcement actions brought by the SEC, (ii) obtaining more than $17 billion in financial remedies, (iii) returning $3.6 billion to harmed investors and (iv) paying $595 million in whistleblower awards.
Commentary
Director Avakian leaves behind an impressive record as the leader of the SEC's Division of Enforcement. She was well-liked and respected by both the SEC staff and defense counsel who sat across the table from her. She will be missed.
Primary Sources
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