January 3, 2014 / 5:11 PM / in 4 years

U.S. SEC's co-enforcement chief Canellos to depart agency

WASHINGTON, Jan 3 (Reuters) - 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 on Friday.

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)

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