91ÊÓÆµÏÂÔØÁ´½Ó

SEC Enforcement Chief Gurbir Grewal to Step Down After Leading Major Crackdowns

Posted on October 7th, 2024 at 4:08 PM
SEC Enforcement Chief Gurbir Grewal to Step Down After Leading Major Crackdowns

From the desk of Jim Eccleston at 91ÊÓÆµÏÂÔØÁ´½Ó

Gurbir Grewal, Director of Enforcement at the U.S. Securities and Exchange Commission (SEC), is stepping down after playing a central role in major enforcement actions against Wall Street and the cryptocurrency industry. According to AdvisorHub, since assuming the role in 2021, Grewal has overseen a team of 1,300 SEC enforcement attorneys and spearheaded numerous high-profile cases against financial firms and professionals.

During his tenure, Grewal focused on investor protection and strict compliance with securities laws. Under his leadership, the SEC aggressively pursued cases involving Wall Street firms’ use of unofficial communication channels, such as WhatsApp, resulting in billions of dollars in fines. In fiscal 2023 alone, the SEC imposed nearly $5 billion in penalties and reimbursements, following a record $6.4 billion in enforcement actions the previous year.

EC Chair Gary Gensler praised Grewal for his dedication, stating that he led the agency’s enforcement division "without fear or favor" and consistently prioritized protecting investors. Grewal, who previously served as New Jersey’s Attorney General, will leave the SEC on October 11, 2024. Sanjay Wadhwa, the current deputy director of the enforcement division, will step in as acting director following Grewal’s departure.

 

91ÊÓÆµÏÂÔØÁ´½Ó LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters. 

Tags: eccleston, eccleston law, sec

Return to Archive

TESTIMONIALS

Previous
Next

I just wanted to say thanks again for preparing and executing my case in such a professional manner. It was a pleasure to watch two professionals take such pride in their work, as well as becoming personally in tune with your client (Me). I would personally recommend you and your firm to anyone.

John O.

LATEST NEWS AND ARTICLES

May 13, 2025
Merrill's Investment Solutions Chief Outlines Growing Role for Alternatives in Client Portfolios

At Merrill and Bank of America Private Bank, alternative investments have become a core focus of portfolio construction, according to Financial Planning.

May 12, 2025
FINRA Clarifies Proposed Changes to Outside Activities Rule

FINRA released a statement this week addressing misconceptions surrounding its proposed updates to the rules governing outside business activities by associated persons of broker-dealers.

May 9, 2025
FINRA Suspends Former Wells Fargo Advisor Over Unauthorized Transfer in Elderly Client's Account

FINRA has fined and suspended former Wells Fargo financial advisor Jarrett Thomas after he executed a $50,000 transaction for an elderly client despite being informed that she was no longer capable of managing her finances.