Saturday, 28 March 2015
Last updated 1 day ago
Feb 1 2013 | 11:34am ET
George Canellos, the former head of the Securities and Exchange Commission's New York office, will serve as the agency's interim enforcement chief.
Canellos will take over after the departure next week of Robert Khuzami, who's held the post for four years. Canellos has been Khuzami's deputy at the division since last year, and Khuzami is believed to have pushed for his appointment.
"George is highly-respected for his intellect, prosecutorial instincts, and commitment to tough and fair enforcement of the federal securities laws," Khuzami said. "His service will benefit both the SEC's talented and hard-working staff and the investing public."
A permanent replacement for Khuzami is not expected until the SEC itself has a new permanent chief. President Barack Obama last week nominated former prosecutor Mary Jo White to the post; she awaits confirmation by the Senate.
White's appointment could prove a boon for Canellos, however: He used to work for her at the Manhattan U.S. Attorney's Office, which White led in the 1990s and early 2000s. Under White, Canellos led the major crimes unit and was a senior trial counsel for the Wall Street task force.
But Canellos does have some challengers, including David Bergers, head of the SEC's Boston office. Bergers was named to fill Canellos' deputy enforcement directorship. And some in the division are pushing for major changes following Khuzami's long tenure.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…