U.S. SEC taps New Jersey attorney general to head enforcement unit

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WASHINGTON, June 29 (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Tuesday (June 29, 2021), tapped New Jersey Attorney General Gurbir Grewal to head its enforcement unit tasked with policing markets, changing tack after the previous pick stepped down days in to the job.

Grewal, the first-ever Sikh-American attorney general, has been New Jersey’s chief law enforcement officer since early 2018 after a lifetime working in government outside of stints earlier in his career. He previously worked as an assistant U.S. attorney in New Jersey where he led the office’s economic crimes unit.

“He has the ideal combination of experience, values, and leadership ability to helm the enforcement division,” SEC Chair Gary Gensler said in a statement. “I look forward to working closely with him to protect investors and root out wrongdoing in our markets.”

The appointment marks a change from the SEC’s previous appointment of Alex Oh to the same role in April. Oh had worked in government briefly before becoming a defense attorney. She stepped down several days in to the job due to potential conflicts created by her previous work.