WASHINGTON Jan 3 George Canellos, one of the
top Wall Street cops at the U.S. Securities and Exchange
Commission, plans to leave the agency this month, the SEC said
Canellos, a former federal prosecutor in Manhattan, is
co-director of the SEC's Enforcement Division, along with Andrew
Ceresney. He has worked at the SEC in a variety of leadership
roles for four and a half years.
Under the leadership of Canellos and Ceresney, the SEC last
year instituted a new and controversial settlement policy of
requiring defendants in some cases to admit to wrongdoing,
rather than letting them neither admit nor deny the charges.
(Reporting by Sarah N. Lynch; Editing by Leslie Adler)