SEC Promotes Two For Hedge Fund Enforcement

The Securities and Exchange Commission has moved to fill the void left in its hedge fund enforcement team left by former group co-chief Robert Kaplan.

Kaplan will not be replaced as co-head of the asset management unit. Instead, the SEC has promoted two lawyers to serve as deputies to remaining chief Bruce Karpati; both will handle probes at hedge funds and private equity firms.

Julie Riewe and Marshall Sprung "have been with the unit since day one and have been a key part of its success," Karpati said. The asset management enforcement group was created in 2010.

Riewe has already dealt with hedge fund cases during her seven years with the SEC. Sprung has been with the agency since 2003 and is based at its Los Angeles office.