Alex Oh appointed SEC’s Director of Enforcement

Rick Steves

The trading industry will now await Alex Oh and Gary Gensler’s next moves at the SEC.

The Securities and Exchange Commission has appointed Alex Oh as Director of the Division of Enforcement, according to an official statement.

She was previously an Assistant U.S. Attorney in the Criminal Division of the U.S. Attorney’s Office for the Southern District of New York, where she was a member of the Securities & Commodities Fraud Task Force and the Major Crimes Unit.

Alex Oh, Director of the Division of Enforcement at the SEC, commented: “I’m excited to join the Division of Enforcement’s team of deeply talented and committed public servants.

The Enforcement Division plays a critical role in protecting investors and maintaining fair, orderly, and efficient markets, essential components of the SEC’s mission. I am committed to working tirelessly to uncover and prosecute violations of the law, whether by businesses or their leaders, so that we can keep American capital markets the strongest in the world.”

Gary Gensler, Chair at the SEC, said: “Our capital markets – and the broader economy – thrive when there are clear rules of the road and a cop on the beat to enforce them. Alex brings to the role of Director the right combination of values and experience to vigorously root out wrongdoing in our markets. With her work as a prosecutor, pro bono experience, and time in private practice, she has the expertise as a highly respected lawyer to ensure that the SEC protects investors.”

“I thank Melissa Hodgman and Kelly Gibson for their leadership of the Enforcement Division over the last few months and look forward to continuing to work with them and the broader enforcement team,” Gensler added.

A former partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP and co-chair of the law firm’s Anti-Corruption & FCPA Practice Group, Ms. Oh also was the lead trial lawyer in numerous jury trials during her tenure as an Assistant U.S. Attorney.

The trading industry will now await Alex Oh and Gary Gensler’s next moves at the SEC. The financial watchdog has taken action against Ripple Labs and its co-founders in late December 2020, still under the leadership of Jay Clayton.

The SEC’s decision to step up to protest against a subpoena on One River Asset Management, which hired ex-SEC Chairman Jay Clayton as an advisor, has raised eyebrows.

Many have expressed confusion regarding the alleged illegal securities offering, the nature of XRP, and the SEC’s regulatory scope. CFTC Commissioner Dawn D. Stump has recently said she is “watching the outcome of this case closely because it will help to establish the scope of the SEC’s authority in the digital assets space“.

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