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SEC enforcement chief steps down just days after appointment

April 30, 2021. Summarized by summa-bot.

Compression ratio: 40.2%. 1 min read.

The SEC's enforcement chief has quit the role just a week after being appointed, after her conduct in a prior private law case was brought into question by a U.S. District Court judge.

The United States Securities and Exchange Commission new enforcement chief, Alex Oh, has resigned from her position with the Securities and Exchange Commission just days after taking the role.

However, in Oh’s resignation letter to Chairman Gary Gensler — as seen by Bloomberg — the former enforcement chief revealed she was stepping down to avoid becoming a distraction, as she deals with controversies arising from a case she worked in the past.

I have reached the conclusion that I cannot address this development without it becoming an unwelcome distraction,” said Oh, in her resignation letter to the SEC chairman.

Oh will be replaced by Melissa Hodgman, who previously served in the role in early 2021.

However, Oh's resignation means Gensler is now without his first pick for the role of enforcement chief.

by summa-bot

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