The Securities and Exchange Commission announced Friday that Elaine Greenberg, chief of the Enforcement Division’s Municipal Securities and Public Pensions Unit and associate director of the Philadelphia Regional Office, is leaving the SEC after 25 years to join the private sector.
Greenberg, who will step down at the end of July, has served in dual roles at the SEC for the past three and a half years, leading the Municipal Securities and Public Pensions Unit since its creation in January 2010 and heading the Philadelphia Regional Office’s enforcement program since December 2006.
The Municipal Securities and Public Pensions Unit, consisting of staff in ten SEC offices, oversees enforcement in the $4 trillion municipal securities market and the $3 trillion public pension market.
SEC Commissioner Elisse Walter, who led the commission’s recent review of the municipal securities market, said in a statement that “Elaine’s leadership of the unit and her efforts on behalf of investors have been groundbreaking and have had a tremendous impact on the behavior of participants in the municipal securities and public pensions markets.”
Andrew Ceresney, co-director of the SEC’s Enforcement Division, added in the same statement that “Elaine has had a distinguished career at the SEC and the depth and breadth of her knowledge and experience is impressive. Through her expert lawyering, creativity and tenacity, she has made major contributions to the agency by bringing numerous significant enforcement actions.”
As the unit’s inaugural chief, the SEC says Greenberg determined its objectives, recruited, selected, and trained staff members, set priorities and established five areas of focus—offering and disclosure fraud, tax and arbitrage-driven fraud, pay-to-play and public corruption violations, public pension accounting and disclosure violations, and valuation and pricing fraud.