The Securities and Exchange Commission (SEC) has announced that Enforcement Director Andrew J. Ceresney will depart the agency by the end of the year. Ceresney has been with the SEC for four years as the head of SEC Enforcement – the largest division of the agency.
SEC Chair Mary Jo White commented on Ceresney’s impending departure;
“Under Andrew’s strong leadership, the Enforcement Division took its already robust enforcement program to an even higher level, achieving unprecedented results, including a record number of enforcement actions, first-of-their-kind cases and a first ever admissions policy for a civil law enforcement agency. Andrew’s tremendous work ethic, commitment to do what is right, and deep dedication to his entire team have made him an incredibly effective leader. America’s investors and our markets have been extremely fortunate to have him fighting in their corner for the last four years. And I am very grateful for his wise counsel, impeccable judgment and expertise.”
During Ceresney’s tenure, the SEC filed over 2,850 enforcement actions and obtained judgments and orders totaling more than $13.8 billion in monetary sanctions. The SEC also charged over 3,300 companies and over 2,700 individuals, including many CEOs, CFOs, and other senior corporate officers.
“My time as Enforcement Director has been the highlight of my career, allowing me to work closely with the extremely talented and dedicated group of professionals in the SEC’s Enforcement Division,” commented Ceresney. “I am immensely proud of what we have accomplished together – our innovative and wide-ranging actions have protected investors, deterred misconduct, and sent the message that the SEC is and always must be the tough cop on the financial beat. I am particularly grateful to Chair White for the opportunity to work under her leadership and her deep commitment to strong enforcement to protect investors and our markets.”