SEC Enforcement Director Andrew Ceresney to Leave SEC by End of Year

SEC Enforcement Director Andrew Ceresney will leave the SEC by the end of the year. Under Mr. Ceresney's leadership, the Enforcement Division completed a record number of enforcement actions and monetary remedies, filing more than 2,850 enforcement actions and obtaining judgments and orders totaling more than $13.8 billion in monetary sanctions.

SEC Chair Mary Jo White issued a statement saying that Mr. Ceresney was an effective leader, adding:

"Under [Ceresney's leadership], the Enforcement Division took its already robust enforcement program to an even higher level, achieving unprecedented results, including . . . first-of-their-kind cases and a first ever admissions policy for a civil law enforcement agency."

Upon Mr. Ceresney's departure, Stephanie Avakian, current Deputy Director of the SEC's Enforcement Division, will become the Acting Director. Ms. Avakian was a partner at Wilmer Hale before joining the SEC in this role, and before that, she worked in the SEC Enforcement Division and as a counsel to SEC Commissioner Paul Carey.