Robert Khuzami, Head Of SEC Enforcement Division, Announces Resignation

Wall St. Watchdog Loses Key Enforcer
WASHINGTON - DECEMBER 11: Securities and Exchange Commission's Division of Enforcement Director Robert Khuzami testifies before the House Oversight and Government Reform Committee about the purchase of Merrill Lynch by Bank of America December 11, 2009 in Washington, DC. Khuzami said the SEC may seek additional claims in its case against Bank of America Corp. after a judge rejected a $33 million settlement over its purchase of Merrill Lynch. Khuzami also revealed that the SEC is investigating the bank's failure to disclose to shareholders Merrill Lynch's mounting losses in the fourth quarter of 2008. (Photo by Chip Somodevilla/Getty Images)
WASHINGTON - DECEMBER 11: Securities and Exchange Commission's Division of Enforcement Director Robert Khuzami testifies before the House Oversight and Government Reform Committee about the purchase of Merrill Lynch by Bank of America December 11, 2009 in Washington, DC. Khuzami said the SEC may seek additional claims in its case against Bank of America Corp. after a judge rejected a $33 million settlement over its purchase of Merrill Lynch. Khuzami also revealed that the SEC is investigating the bank's failure to disclose to shareholders Merrill Lynch's mounting losses in the fourth quarter of 2008. (Photo by Chip Somodevilla/Getty Images)

WASHINGTON (Reuters) - Robert Khuzami, the head of the U.S. Securities and Exchange Commission's enforcement division, plans to step down as early as next month, Bloomberg reported on Thursday.

Khuzami notified SEC Chairman Elisse Walter of his decision earlier this month, according to Bloomberg, which cited three people with knowledge of the matter.

Khuzami, a former federal prosecutor and bank executive, came to the SEC in 2009 to help reshape the agency's enforcement efforts amid criticism that it missed the $65 billion Bernard Madoff Ponzi scheme and other major frauds.

In his tenure with the agency, Khuzami oversaw efforts to pursue financial institutions that contributed to the subprime mortgage crisis.

SEC spokesman John Nester declined comment. Khuzami did not immediately respond to a request for comment.

(Reporting By Aruna Viswanatha and Sarah N. Lynch; Editing by Gary Hill)

Before You Go

Jack Welch

Economic Conspiracy Theorists

Popular in the Community

Close

What's Hot