SEC Hedge Fund Enforcement Chief Out

May 10 2013 | 12:05pm ET

The Securities and Exchange Commission's point-man on hedge fund enforcement is leaving the regulator.

Bruce Karpati will become chief compliance officer for Prudential Financial's mutual fund business, Pru said yesterday. The two sides have been in talks for months and were first linked at the beginning of March.

Karpati has led the asset-management enforcement unit for three years; since the summer, he has led it on his own, following the departure of co-chief Robert Kaplan.

"Bruce has been a pioneer in the use of complex data analysis to detect securities fraud," SEC enforcement co-chief George Canellos, himself rumored to be mulling an exit from the regulator, said.

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