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Wednesday, December 05, 2007

SEC Taps New Inspector General

News summary by MFWire's editors

The SEC has named David Kotz as its new inspector general. Kotz is currently inspector general of the Peace Corps. Kotz replaces Walter Stachnik, who recently retired from the SEC after 30 years of government service.

The Securities and Exchange Commission announced today that H. David Kotz has been named the agency’s new Inspector General. Mr. Kotz is currently Inspector General of the Peace Corps.

As the SEC’s Inspector General, Mr. Kotz will conduct independent and objective audits, investigations and inspections to detect waste, fraud and abuse, and promote economy, effectiveness and efficiency. He also will issue fact-based reports in accordance with professional standards.

Under the Inspector General Act of 1978, Inspectors General have a dual and independent reporting relationship to the agency head and to Congress. Appointments are based on integrity and ability in such areas as accounting, auditing, financial analysis, public administration and law, without regard to political affiliation.

“The Office of Inspector General has an enormous responsibility to both the agency and the public that requires a principled and independent leader,” said SEC Chairman Christopher Cox. “Mr. Kotz has demonstrated consistent strength, independence and integrity as Inspector General of the Peace Corps. He will be responsible for assessing all aspects of the Commission’s programs to ensure efficiency, effectiveness and accountability.”

Mr. Kotz said, “I appreciate this opportunity to play an integral role in ensuring that the SEC effectively fulfills its mission. I look forward to working with the professional staff of the SEC’s Office of Inspector General to further the Commission’s commitment to the highest standards of efficiency, integrity and credibility.”

As Inspector General at the Peace Corps since February 2006, Mr. Kotz was responsible for overseeing the internal operations of Peace Corps programs in Washington, D.C., at 11 regional offices, and in nearly 70 countries around the world. After joining the Peace Corps staff in October 2002, he was an Associate General Counsel for more than three years.

Mr. Kotz previously worked at the U.S. Agency for International Development (USAID), where he was an Attorney Advisor in the Office of the General Counsel and later a Chief in the Office of Labor and Employee Relations. Prior to his government service, Mr. Kotz worked at three law firms: Pepper Hamilton LLP in Washington D.C.; Stults & Balber, P.C., in New York City; and Graham & James in New York City. Mr. Kotz graduated cum laude from the University of Maryland in 1987 with a B.A. in Government and Politics, and earned his J.D. at Cornell Law School in 1990.

Mr. Kotz replaces Walter Stachnik, who recently retired from the SEC after 30 years of government service. 

Edited by: Erin Kello

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