What You Need to Know
- Oh resigned Wednesday for personal reasons, according to the agency.
- Her conduct as a lawyer in an ExxonMobil civil case was called into question, Bloomberg reported.
- Melissa Hodgman will return to the role of acting director.
Alex Oh, who was named director of the Securities and Exchange Commission’s Enforcement Division Thursday, resigned Wednesday for personal reasons.
Melissa Hodgman will return to the role of acting director of the Division of Enforcement, the agency said in a statement.
“Melissa is an exceptional attorney who has proven to be an effective leader of the Enforcement Division,” SEC Chairman Gary Gensler said in a statement. “I’m grateful that she will take on this role again and look forward to working closely with her to fulfill the mission of the SEC. I thank Alex for her willingness to serve the country at this important time.”
Oh, a seven-year partner at Paul, Weiss, Rifkind, Wharton & Garrison, served as co-leader of the anti-corruption team.
What Your Peers Are Reading
The New York Times reported Wednesday that Oh resigned following a federal court ruling in a case involving one of her corporate clients, ExxonMobil.
In her Wednesday resignation letter, the Times reported, “Ms. Oh said the matter would be ‘an unwelcome distraction to the important work’ of the enforcement division.”
Oh’s resignation letter, according to the Times, “followed a ruling on Monday from Judge Royce C. Lamberth of the Federal District Court for the District of Columbia over the conduct of Exxon’s lawyers during a civil case involving claims of human rights abuses in the Aceh province of Indonesia.”