Wednesday, January 13, 2010

SEC to Name Investigative Chiefs

New lipstick for the same pig.

The Securities and Exchange Commission will name chiefs for five new specialized investigative units, today.

WSJ reports:
The five units identify high-priority areas for the agency. Daniel Hawke, head of the Philadelphia office, was selected to run the market abuse unit, which will focus on insider-trading and market-manipulation cases, people familiar with the matter said.

Kenneth Lench will run the structured and new-products unit, which will focus on derivatives and newly developed products, they said. Cheryl Scarboro will be named chief of the agency's unit that investigates foreign bribery by corporations, the people familiar with the matter said.

Elaine Greenberg, a veteran of the Philadelphia office, has been tapped to run the municipal-securities unit. The unit specializing in asset managers, including hedge funds and private-equity firms, is set to be jointly run by Bruce Karpati, who has run the agency's hedge-fund working group for the past several years, and Robert Kaplan, another SEC veteran.

Another unit, called market intelligence, will assume the responsibilities of the Internet enforcement unit and add new duties, such as handling tips and referrals.

Thomas Sporkin is expected to lead that office, these people said.
Will Daniel Hawke investigate this? I doubt it.

1 comment:

  1. So Wenzel, you think its wrong for congressman to use their insider information for their personal benefit while the rest of us (like Martha Stewart) go to jail for this activity? The next thing you'll be telling us is you believe in justice for all.

    I do agree with the sentiment, but wouldn't it be better to strip congress of the power to create the SEC in the first place?