The Securities and Exchange Commission has named a former federal prosecutor as its new enforcement chief.
Robert Khuzami has been a top legal official on Wall Street at investment firm Deutsche Bank since 2004. Before that he worked for 11 years in the U.S. attorney’s office in Manhattan and prosecuted insider trading cases, Ponzi schemes and other financial crimes.
Khuzami, 52, replaces Linda Thomsen, the SEC enforcement director since May 2005. Her departure was announced last week.
Thomsen became a lightning rod for criticism over the SEC’s failure to detect the $50 billion pyramid scheme allegedly run by money manager Bernard Madoff, despite red flags raised to the agency staff by outsiders over the course of a decade. (AP)
