The U.S. Securities and Exchange Commission (SEC) announced Wednesday that its head of enforcement, Robert Khuzami, is leaving the agency. He did not give a reason for the move, or indicate his future plans
Khuzami’s departure follows that of former chief Mary Schapiro who left the commission last month, and many other senior executives who’ve recently departed. Schapiro brought Khuzami on as head of enforcement back in February 2009.
Prior to joining the SEC, Khuzami served as a federal prosecutor for 11 years with the U.S. Attorney’s Office for the Southern District of New York.
During his tenure, the SEC restructured enforcement, tackled cases stemming from the financial crisis, and also took on some high-profile insider trading cases. It generated a record number of enforcement actions in fiscal 2011 (735), and another 734 actions in fiscal 2012, and established programs such as its cooperation program to create incentives for individuals and companies to assist with SEC investigations, and its new whistleblower program.
SEC chairman, Elisse Walter, said, “Under his direction, the division not only produced record results, but embraced changes that in the years to come will enable the talented staff to better protect investors through increased efficiency, expertise, and strategic focus.”