SEC Names Ex-Prosecutor Head Of N.Y. Office

Jun 3 2009 | 3:31am ET

Would-be hedge fund fraudsters and Ponzi schemers beware: Wall Street has a new top regulatory cop.

The Securities and Exchange Commission yesterday named George Canellos, a former federal prosecutor, to head its New York enforcement office. Among Canellos’ responsibilities will be overseeing the hedge fund industry in New York and New Jersey.

“I’m confident that he will help the commission provide rigorous oversight of Wall Street and advance our efforts to restore investor confidence,” SEC Chairman Mary Schapiro said.

Canellos joins the SEC from law firm Millbank Tweed Hadley & McCloy, where he is a partner in the litigation group. Before returning to the private sector, Canellos spent eight years in the U.S. Attorney’s Office in Manhattan, where he worked with newly-minted SEC enforcement chief Robert Khuzami.

As a federal prosecutor in New York, Canellos led the major crimes unit and was senior trial counsel for its securities and commodities fraud task force.

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