New Jersey attorney general to lead SEC enforcement division

New Jersey Attorney General Gurbir Grewal (D) will become the next director of the Securities and Exchange Commission’s (SEC) enforcement division, the agency announced Tuesday.

SEC Chairman Gary Gensler appointed Grewal on Tuesday to be the agency’s enforcement chief effective July 26. Grewal has served as New Jersey’s attorney general since 2018, when he became the first Sikh to hold that position in any state in the U.S.

In a statement, Gensler said he was “honored and delighted” to bring Grewal on at the Wall Street watchdog after “a distinguished career as New Jersey’s chief law enforcement officer.”

“He has the ideal combination of experience, values, and leadership ability to helm the Enforcement Division at this critical time. I look forward to working closely with him to protect investors and root out wrongdoing in our markets,” he said.

Grewal previously served as a prosecutor in Bergen County and in several Justice Department positions based in New York and New Jersey focused on white-collar, cyber, financial crimes.

He said he “was excited to get to work with the talented team of public servants to uncover and prosecute misconduct and protect investors.”

As enforcement division director, Grewal will lead the SEC’s efforts to crack down on misconduct in the securities markets and violations of the agency’s rules for publicly traded companies.

Gensler initially tapped Alex Oh, a corporate attorney, as enforcement division director. But she resigned in April days after taking the job after a federal judge rebuked her for conduct involving her representation of Exxon Mobil.