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SEC Now Has New Top Cop on the Beat

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Mon, 07/26/2021 - 16:00
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Alex Dovbnya
Gurbir Grewal will get to work in his new role starting this Monday
SEC Now Has New Top Cop on the Beat
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After departing the office of the New Jersey attorney general, Indian-American Gurbir Grewal will be taking on a new role as the U.S. Securities and Exchange Commission's enforcement director starting from July 26.  

Alex Oh—who was appointed the regulator’s top cop in late April—suddenly left the agency days after her abrupt resignation.   

It later turned out that she had called it quits after a judge criticized her conduct while Oh was defending natural gas giant ExxonMobil.

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Ripple Scores Major Win Against SEC as Judge Authorizes William Hinman's Deposition
With Democrats at the helm, the SEC adopted a more progressive rulemaking agenda by focusing on such issues as climate change. However, some were dissatisfied by her track record of helping big corporations.

Grewal, on the other hand, is expected to be tougher on corporate America and the cryptocurrency industry.

During his tenure as New Jersey's AG, he was responsible for presiding over crypto-related enforcement actions, which were part of "Operation Cryptosweep."

In the meantime, William Hinman, a former high-ranking SEC official who oversaw the agency's division of corporation finance, is going to be deposed about his role in the ongoing lawsuit against distributed ledger company Ripple on July 27.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.