SEC Chairman Mary Schapiro has hired former federal prosecutor Robert Khuzami as the new Director of the Division of Enforcement, replacing Linda Thomsen, who resigned from the position under fire earlier in February.
Khuzami served as a federal prosecutor for 11 years with the United States Attorney's Office for the Southern District of New York. As chief of that office's Securities and Commodities Fraud Task Force for three years, Khuzami prosecuted numerous securities and white-collar criminal matters, including those involving insider trading, Ponzi schemes, accounting and financial statement fraud, organized crime infiltration of the securities markets, and IPO and investment advisor fraud. Khuzami most recently served as General Counsel for the Americas at Deutsche Bank AG.
"As we work to improve investor confidence in the markets, our enforcement efforts are vital," said Schapiro in a statement. "Throughout his career, Rob has demonstrated an unwavering commitment to prosecuting wrongdoers and protecting citizens. As a former federal prosecutor, Rob is well-suited to lead the SEC's Division of Enforcement as we continue to crack down on those who would betray the trust of investors."
Khuzami said, "As head of the SEC's Division of Enforcement, the staff and I will relentlessly pursue and bring to justice those whose misconduct infects our markets, corrodes investor confidence and has caused so much financial suffering. I am honored to join Chairman Schapiro, the Commissioners and the dedicated SEC staff in this critical effort."