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SEC names enforcement chief for complex products

Daniel Michael was named chief of the SEC enforcement division's unit on complex financial instruments, the Securities and Exchange Commission announced Thursday.

He replaces Michael Osnato Jr., who left earlier this year.

Mr. Michael joined the SEC in 2010, and has served as an assistant director in the New York regional office since 2014. The SEC said he played a key role in several significant enforcement actions, including charges against Merrill Lynch for violating customer protection rules. He has also served in private law practice.

The unit's attorneys and industry experts investigate potential misconduct related to complex financial products and practices involving sophisticated market participants.