Jay Clayton, chairman of the Securities and Exchange Commission (SEC), has appointed Stephanie Avakian and Steven Peikin as the co-directors of the Division of Enforcement. The news was officially announced yesterday in line with predictions from last week.

Stephanie Avakian SEC Co-director, Division of Enforcement

A spokesman for the SEC declined to comment beyond the press release.

Avakian and Peikin are taking the place of Andrew Ceresney, who left the SEC last December. Since then, Avakian has been acting director of the division. Avakian will continue working out of the SEC's Washington, D.C. headquarters, while Peikin will split time between their D.C. and New York offices.

Steven Peikin SEC Co-director, Division of Enforcement

Avakian has many years at the SEC under her belt. Before taking on Ceresney's duties last December, Avakian served as the deputy director of the division since 2014. Avakian also previously worked as a branch chief in the SEC's New York office of the division as well as counsel to former SEC commissioner Paul Carey. Outside of her time at the SEC, Avakian was a partner at Wilmer Cutler Pickering Hale and Dorr LLP.

"She has a first-class legal mind, has the respect of her colleagues in the Washington and regional offices, and, most importantly, is dedicated to the SEC's mission," Clayton states of Avakian.

Peikin is coming to the SEC from Sullivan & Cromwell, where he worked with Clayton. Before Sullivan & Cromwell, Peikin worked as assistant U.S. attorney in the Southern District of New York and chief of the office's securities and commodities fraud task force.

"The Division of Enforcement is critical to the SEC's ability to fulfill its mission of protecting investors and maintaining market integrity. I am honored to join its ranks of dedicated and talented professionals," Peikin states.  

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