SEC Enforcement Division Director to Step Down by Year s End Stephanie Avakian has served as the head of the division for four years, and oversaw investigations into Wells Fargo s supervision of investment advisors as well as the Share Class Selection Disclosure Initiative.
SEC Enforcement Division Director Stephanie Avakian will be leaving her post and the agency by the end of this year, the commission announced Thursday. She departs after a four-year tenure as both co-director and director of the 1,400-person department.
Deputy Director Marc Berger will be stepping in as an acting head of the division in the interim. In total, the Division of Enforcement recommended more than 3,000 enforcement actions during Avakian’s tenure, obtaining more than $17 billion in financial remedies and returning about $3.6 billion to investors.