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REGULATION/LEGISLATION

SEC picks 2 enforcement division directors

SEC headquarters, Washington

Stephanie Avakian and Stephen Peikin were named co-directors of the Securities and Exchange Commission's enforcement division on Thursday.

Ms. Avakian has been acting director of the division and Mr. Peikin is managing partner of the Sullivan & Cromwell law firm's criminal defense and investigations group. He is a former federal prosecutor for the Southern District of New York and former chief of the SEC's Securities and Commodities Fraud Task Force.

SEC Chairman Jay Clayton said in a statement: “They have each demonstrated market knowledge, impeccable character and commitment to public service, and I am confident their combined talents and experience will enable them to effectively lead the division going forward.”