The U.S. Securities and Exchange Commission (SEC) is taking a second crack at naming a new head of enforcement, with the announcement that New Jersey’s attorney general, Gurbir Grewal, has been appointed to the post.
In late April, the SEC initially named Alex Oh, a former federal prosecutor, as its new enforcement chief. However, a few days later she stepped down amid concerns about her work in private practice.
Now, Grewal has been appointed director of the enforcement division, effective July 26.
“The enforcement division has a critical role to play in finding and punishing violations of the law,” said Grewal. “I’m excited to get to work with the talented team of public servants to uncover and prosecute misconduct and protect investors.”
Prior to being named attorney general in 2018, Grewal was a prosecutor, and, as an assistant U.S. attorney, he was chief of the economic crimes unit, overseeing the investigation and prosecution of all major white collar and cyber crimes in New Jersey. He also worked in private practice from 1999 to 2004 and from 2008 to 2010.
“He has the ideal combination of experience, values and leadership ability to helm the enforcement division at this critical time,” said SEC chair Gary Gensler, in a release. “I look forward to working closely with him to protect investors and root out wrongdoing in our markets.”