The Securities and Exchange Commission has named Adam Storch to the newly created position of managing executive of its Division of Enforcement. In his new role, Storch will act as the Division's chief operating officer.
Storch will report to Robert Khuzami, the Director of the Division, who created the position as part of a restructuring he announced earlier this year, according to the SEC. The SEC says that Storch will be responsible for project management and workflow for various infrastructure and operational aspects of the Division, including budget, information technology, and administrative services. In addition, "he will oversee the workflow and process associated with the collection and distribution of Fair Funds to harmed investors," the SEC says. Along with Lorin Reisner, the Deputy Director of the Division of Enforcement, "Storch will supervise the Office of Market Intelligence, improving the collection, analysis, risk-weighing, triage, referral, and monitoring of the hundreds of thousands of tips, complaints and referrals that the agency receives each year," the SEC says.
Storch joins the SEC from Goldman Sachs & Co., where he was VP in the Business Intelligence Group.
The restructuring of the Enforcement Division seeks to reduce bureaucracy and expedite the enforcement process by eliminating unnecessary process, streamlining procedures, and rebalancing the Division's investigative staff by reducing management levels and reassigning those experienced personnel to full-time investigative work, the SEC says. In addition, the SEC says the "newly-structured Division will include specialized units that will enable staff in those units to develop expertise in priority areas and utilize that expertise to help detect earlier and more often the patterns, links, trends, and motives connected to fraud and wrongdoing."