The Attorney General of New York has named a new head of its Investor Protection Bureau, which is charged with enforcing state securities laws.
Attorney General Eric Schneiderman announced Wednesday that Chad Johnson will serve as chief of the attorney general’s investor protection bureau. The division enforces state securities laws through the so-called Martin Act, which gives the attorney general broad powers to conduct investigations of suspected securities fraud. It allows the office to bring both civil and criminal prosecutions under the legislation to protect investors. It also requires brokers, dealers, securities reps and investment advisers to register with the attorney general’s office.
“I look forward to building on the work of the Investor Protection Bureau and to pursuing additional means of reforming Wall Street,” Johnson said. “Having represented shareholders and financial institutions over the last 20 years, I appreciate the interests of all involved and the important role that this office serves in helping to keep investors safe.”
Johnson joined the executive division of the office of the attorney general in 2012, initially serving as senior trial counsel and later as deputy attorney general. Prior to that, he was in private practice representing both shareholders and financial institutions in complex litigations.
“Chad has already successfully led a number of the most important and noteworthy matters in our office—from investigating the conduct that led to the financial crisis in 2008 to ensuring that no one has an unfair early advantage in the markets,” said Schneiderman. “I’m confident that the Investor Protection Bureau will continue to advance Wall Street reforms that promote fairness and a level playing field — as well as hold wrongdoers accountable for their actions.”