Thomsen Leaves Her Director Post At SEC's Division Of Enforcement

Linda Chatman Thomsen is to step down from her post as director of the Securities and Exchange Commission's (SEC) division of enforcement after overseeing more than 2,000 cases, it has been announced. In a statement, the SEC praised Ms Thomsen

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Linda Chatman Thomsen is to step down from her post as director of the Securities and Exchange Commission’s (SEC) division of enforcement after overseeing more than 2,000 cases, it has been announced.

In a statement, the SEC praised Ms Thomsen for her leadership of investigations into Enron and resulting cases against financial institutions including Citigroup, Merrill Lynch and JP Morgan Chase.

The regulator said she had also played a key role in securing settlements for the return of more than $50 billion to investors who were mis-sold auction-rate securities.

However, Thomsen’s enforcement division also came in for criticism during her tenure, most notably over the alleged $50 billion Madoff fraud.

Along with other top regulators, she was called to give evidence on the breakdown in oversight to the US Senate’s banking committee.

Last week, whistleblower Harry Markopolos says he had “gift wrapped and delivered” the alleged fraud to the SEC but the regulator had failed to follow it up.

D.C.

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