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U S SEC enforcement head resigns after five days on the job

U.S. SEC enforcement head resigns after five days on the job Reuters 1 hr ago By Katanga Johnson and Chris Prentice © Reuters/Jonathan Ernst FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door By Katanga Johnson and Chris Prentice WASHINGTON (Reuters) -Alex Oh, who last week became the first woman of color to lead the U.S. securities watchdog s enforcement division resigned on Wednesday due to potential conflicts of interest created by her previous work as a lawyer, according to the agency and a person with direct knowledge of the matter. The unusual turn of events is a blow for new Securities and Exchange Commission (SEC) chair Gary Gensler, for whom Oh was among his first big hires, and underscores the challenges of filling top agency roles with Wall Street defense attorneys.

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a Lawyer Left the SEC After Her Work for Exxon Was Scrutinized

Angela Weiss/AFP via Getty Images This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Alex Oh stepped down after less than a week on the job as the SEC s director of enforcement. Progressive and ethics groups have taken issue with Oh s work for Exxon and other big businesses. On Monday, a judge faulted Exxon s legal tactics in a human-rights lawsuit, and singled out Oh. The SEC s top Wall Street cop, the first woman of color to hold the job, just resigned after less than a week in the role. Progressive groups that have been pressuring the Biden administration not to hire certain corporate lawyers are thrilled by the news.

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SEC enforcement chief Alex Oh resigns days after taking job

SEC enforcement chief Alex Oh resigns days after taking job
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SEC enforcement chief resigns just days after taking job

© Getty Images The head of the Securities and Exchange Commission (SEC) enforcement division resigned Wednesday following an order from a federal judge potentially raising questions about her previous legal representation of ExxonMobil. Alex Oh stepped down as the SEC’s enforcement chief, the agency announced Wednesday afternoon, just six days after she took the post under heavy criticism from progressives and other financial sector critics. Oh had been a partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP before joining the SEC, co-chairing the law firm’s practice focused on corruption cases. She had been one of several attorneys at the firm defending ExxonMobil against a lawsuit filed by Indonesians who claimed they were beaten and tortured by guards hired to protect a company facility.

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SEC Enforcement Chief Alex Oh Resigns After 5 Days Taking the Job

First Posted: Apr 29, 2021 01:14 AM EDT Photo : Chip Somodevilla/Getty Images Securities and Exchange Commission (SEC) enforcement director Alex Oh stepped down from office after five days on the job. Alex Oh, who resigned on Wednesday, was known to be the first Asian American woman that was supposed to lead the securities watchdog s enforcement division, Reuters reported. The SEC made the announcement in a press release. READ NEXT: Alex Oh Resigns From SEC The reason behind Alex Oh s abrupt resignation was due to potential conflicts of interest from her previous work as a lawyer, according to SEC, and a person who has direct knowledge of the matter.

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