The Securities and Exchange Commission has named a pair of enforcers to help Chairman Jay Clayton police the marketplace.
Acting Director of the Division of Enforcement Stephanie Avakian and former federal prosecutor Steven Peikin have been named Co-Directors of the SECs Division of Enforcement.
The Division of Enforcement is the agency’s largest unit with more than 1,200 investigators, accountants, trial attorneys, and other professionals.
There is no place for bad actors in our capital markets, particularly those that prey on investors and undermine confidence in our economy, said Chairman Jay Clayton in a release. Stephanie and Steve will aggressively police our capital markets and enforce our nations securities laws as Co-Directors of the Division of Enforcement. They have each demonstrated market knowledge, impeccable character, and commitment to public service, and I am confident their combined talents and experience will enable them to effectively lead the Division going forward.
Avakian was named Acting Director of the SECs Division of Enforcement in December 2016 after serving as Deputy Director of the Division since June 2014. Before being named Deputy Director, she was a partner at Wilmer Cutler Pickering Hale and Dorr LLP, where she served as a vice chair of the firms securities practice and represented financial institutions, public companies, boards, and individuals in a broad range of investigations and other matters before the SEC and other agencies.
Avakian also previously worked in the SECs Division of Enforcement as a branch chief in the New York Regional Office, and later served as counsel to former SEC Commissioner Paul Carey.
I have been extremely impressed by the work of the Division of Enforcement under Stephanies leadership, and I am delighted that she will continue to use her judgment and knowledge to lead the Division, Clayton said. She has a first-class legal mind, has the respect of her colleagues in the Washington and regional offices, and, most importantly, is dedicated to the SECs mission.
Steven Peikin comes from Sullivan & Cromwells Criminal Defense and Investigations Group where he was a Managing Partner. His practice focused on white-collar criminal defense, regulatory enforcement, and internal investigations. Before that, from 1996 to 2004, Peikin served as an Assistant U.S. Attorney in the Southern District of New York. He was Chief of the Offices Securities and Commodities Fraud Task Force, where he supervised some of the nations highest profile prosecutions of accounting fraud, insider trading, market manipulation, and abuses in the foreign exchange market. As a prosecutor, Mr. Peikin also personally investigated and prosecuted a wide variety of securities, commodities, and other investment fraud schemes, as well as other crimes.
Peikin also is Adjunct Professor of Law at New York University Law School, where he teaches a class on the criminal enforcement of securities and commodities laws.
Steve brings to the SEC deep market knowledge and extensive prosecutorial experience, including in multinational matters, Clayton said. I have no doubt that investors and our markets will benefit from his service.
Avakian will continue to work out of the SECs Washington, D.C. headquarters while Peikin will split his time between the SECs headquarters and the agencys New York Regional Office.
