Skip to main content

Amended - Reuters took down their banner.  CNBC article below:

http://www.cnbc.com/...

http://www.reuters.com/...

I believe Ms. Thomsen saw the writing on the wall...

NEW YORK, Feb 6 (Reuters) - The newly-installed chairman of the U.S. Securities and Exchange Commission (SEC) Mary Schapiro is searching to replace Linda Thomsen, the agency's embattled enforcement chief, the New York Post said, citing people familiar with the situation.

Schapiro is actively scanning profiles of professionals in various offices of the U.S. attorney, who litigate cases on behalf of the U.S. government under the direction of the attorney general the newspaper said, citing sources.

As the head of the unit responsible for ferreting out securities fraud, Thomsen was at the center of the fierce criticism leveled by lawmakers at the SEC this week over the Bernard Madoff scandal.

http://en.wikipedia.org/...

http://online.wsj.com/...  (Link to Thomsen's testimony from January 2009.)

UPDATED: Here is part of the CNBC article, linked above:

SEC head of enforcement Linda Thomsen will resign early Monday afternoon according to a source, CNBC has learned.

Former federal prosecutor Robert Khuzami will be replacing Thomsen at the SEC.

More on Robert Khuzami:  

http://wallstreetblips.dailyradar.co...

http://www.bloomberg.com/... pid=20601087&sid=aCZ4.zPMlVMs&refer=home

Khuzami, 52, may meet senior SEC officials as soon as next week, one of the people said, declining to be identified because the personnel talks aren’t public. He spent 11 years at the U.S. Attorney’s Office in Manhattan, where he headed the white-collar crime unit, before taking a job at Deutsche Bank in 2002.

He would join SEC Chairman Mary Schapiro, 53, at an agency scarred by its failure to detect Bernard Madoff’s alleged $50 billion Ponzi scheme. Enforcement chief Linda Thomsen, 54, who remains on the job, was scolded by lawmakers along with other senior agency managers this week for failing to be more forthcoming about the pursuit of the fraud.

Khuzami’s "deep background" in criminal enforcement would help bolster perceptions that the agency can track down rule- breakers, said James Cox, a law professor at Duke University in Durham, North Carolina. In addition, "a person familiar with the internal operations of a universal bank will be extraordinarily useful," he said.

Khuzami, didn’t respond to a telephone message seeking comment. Deutsche Bank spokesman Ted Meyer declined to comment. The bank promoted Khuzami to become its New York-based general counsel for the Americas in 2004, the Frankfurt-based company said in a statement at the time. SEC spokesman John Nester declined to comment.

This seems to be in keeping with 'change'.

Originally posted to xysea on Mon Feb 09, 2009 at 08:29 AM PST.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site