SEC enforcement chief Khuzami to step down: Bloomberg

WASHINGTON Thu Dec 20, 2012 7:35pm EST

Robert Khuzami, Director of the Securities and Exchange Commission's Division of Enforcement, describes insider trading charges against three hedge fund portfolio managers and one hedge fund analyst during a news conference in New York February 8, 2011. REUTERS/Lucas Jackson

Robert Khuzami, Director of the Securities and Exchange Commission's Division of Enforcement, describes insider trading charges against three hedge fund portfolio managers and one hedge fund analyst during a news conference in New York February 8, 2011.

Credit: Reuters/Lucas Jackson

WASHINGTON (Reuters) - Robert Khuzami, the head of the U.S. Securities and Exchange Commission's enforcement division, plans to step down as early as next month, Bloomberg reported on Thursday.

Khuzami notified SEC Chairman Elisse Walter of his decision earlier this month, according to Bloomberg, which cited three people with knowledge of the matter.

Khuzami, a former federal prosecutor and bank executive, came to the SEC in 2009 to help reshape the agency's enforcement efforts amid criticism that it missed the $65 billion Bernard Madoff Ponzi scheme and other major frauds.

In his tenure with the agency, Khuzami oversaw efforts to pursue financial institutions that contributed to the subprime mortgage crisis.

SEC spokesman John Nester declined comment. Khuzami did not immediately respond to a request for comment.

(Reporting By Aruna Viswanatha and Sarah N. Lynch; Editing by Gary Hill)

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