"Former federal prosecutor Robert Khuzami will be named the new head of enforcement at the [SEC], as soon as this week, a person familiar with the matter said, in the latest bid by the SEC's new chief to restore its credibility. Mr. Khuzami, currently a top lawyer at Deutsche Bank AG in New York, was offered and accepted the position of enforcement director, this person said. ... The appointment of Mr. Khuzami, a respected prosecutor who served as chief of the securities fraud unit at the U.S. attorney's office in Manhattan, is part of SEC Chairman Mary Schapiro's effort to reinvigorate the enforcement division", Kara Scannell at the WSJ, 9 February 2009.
Will Schapiro have the same firm that audits Citigroup audit brokerages? She brings Becker back. The SEC-BigLaw revolving door, revolves once more. From his resume at CGSH's website, "David M. Becker ... focuses on SEC and other investigations, internal corporate investigations, corporate governance issues, and on a broad range of SEC regulatory matters. ... Becker was particularly active in advising the Commission on matters related to corporate governance, and accounting and disclosure. ... Becker received a JD degree from Columbia ... in 1973, and an undergraduate degree from Columbia College in 1968". Oh goody, Becker has two Ivy League degrees. Harvey Pitt was SEC chairman from 2001 to 2003. Think about that. My take: it's open season for accounting fraud at the SEC.
If selecting a former AUSA from the SDNY US attorney's office, currently with a NY BigBank, is Schapiro's attempt to "reinvigorate the enforcement division", I don't want to know what she thinks will emasculate it. Laugh, Schapiro made a joke.