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SEC names Robert Khuzami new enforcement chief
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The Securities and Exchange Commission on Thursday named a former federal prosecutor as its new enforcement chief to lead the embattled agency's drive to strengthen its pursuit of financial fraud.
Robert Khuzami has been a top legal official on Wall Street at investment firm Deutsche Bank since 2004. Before that he worked for 11 years in the U.S. attorney's office in Manhattan and prosecuted insider trading cases, Ponzi schemes and other financial crimes.
Khuzami, 52, replaces Linda Thomsen, the SEC enforcement director since May 2005. Her departure was announced last week.
Thomsen became a lightning rod for criticism over the SEC's failure to detect the $50 billion Ponzi scheme allegedly run by money manager Bernard Madoff, despite red flags raised to the agency staff by outsiders over the course of a decade.
"As head of the SEC's division of enforcement, the staff and I will relentlessly pursue and bring to justice those whose misconduct infects our markets, corrodes investor confidence and has caused so much financial suffering," Khuzami said in a statement.
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