Tags: sec

SEC Top Enforcer Thomsen to Resign

Monday, 09 Feb 2009 12:34 PM

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The U.S. Securities and Exchange Commission's top enforcement official, Linda Thomsen, is expected to resign Monday, CNBC television said.

Former Assistant U.S. Attorney Robert Khuzami is expected to replace her as the SEC's enforcement director, one source familiar with the matter told Reuters over the weekend.

Another source said Thomsen had scheduled to speak to her staff and the entire enforcement division late Monday morning. It was not immediately known if she would stay on until Khuzami starts at the agency, the source said Monday.

The SEC declined to comment.

The enforcement division has been heavily criticized for how it handled the Bernard Madoff case, in which the former financier is accused of defrauding investors of $50 billion.

Reuters reported on Saturday that an announcement on Thomsen's replacement was expected as early as this week. Another source said Thomsen was going to resign early this week.

Thomsen was appointed SEC enforcement chief in 2005 under former SEC Chairman William Donaldson and remained in that position under former SEC Chairman Christopher Cox.

New SEC Chairman Mary Schapiro is under pressure to restore the agency's reputation as a tough policeman on Wall Street.

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