SEC names enforcement chief

SEC names enforcement chief

The US Securities and Exchange Commission has offically appointed Stephen M. Cutler as enforcement director.

Cutler, who was acting enforcement director following the departure of Richard Walker, had been deputy director at the commission since July 1999.

He will oversee the SEC’s enforcement programme in Washington and in 11 regional and district offices throughout the US.

The SEC recently announced that it will relax its treatment of companies that breach enforcement rules. It is hoped that an environment of increased co-operation between the regulator and the companies it regulates will speed up processes as well as make better use of SEC resources.

SEC Chairman Harvey Pitt said: ‘I am extremely pleased that Steve Cutler will be our new director of enforcement. He brings with him a long record of accomplishment, both here at the Commission as well as in the private sector.

‘His keen intellect, superb judgement and passion for investor protection have impressed me and everyone else with whom he’s worked.’

SEC opts for more lenient approach – http://www.accountancyage.com/Business/1126151

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