The Securities and Exchange Commission (SEC) now has not one, but two Directors of Enforcement.
The SEC said that Acting Director George Canellos and former federal prosecutor and Debevoise partner Andrew Ceresney have been named co-directors of the Division of Enforcement.
Canellos, 48, has been serving as Acting Director since January, and previously had been the division’s Deputy Director since June 2012.
He played a key role in developing the Division’s cooperation program.
From July 2009 to June 2012, Canellos served as Director of the SEC’s New York Regional Office, overseeing 400 enforcement attorneys, accountants, investigators, and compliance examiners involved in the investigation and prosecution of enforcement actions and the performance of compliance inspections in the New York region.
The New York office has responsibility for the largest concentration of SEC-registered financial institutions, including more than 4,000 investment banks, investment advisers, broker-dealers, mutual funds and hedge funds.
Ceresney, 41, served as a Deputy Chief Appellate Attorney in the United States Attorney’s Office for the Southern District of New York, where he was a member of the Securities and Commodities Fraud Task Force and the Major Crimes Unit.
As a prosecutor, Ceresney handled numerous white collar criminal investigations, trials and appeals, including matters relating to securities fraud, mail and wire fraud, and money laundering.
Most recently, Ceresney served as a partner in the law firm of Debevoise & Plimpton LLP, where he focused on representing entities and individuals in white collar criminal and SEC investigations, complex civil litigation and internal corporate investigations.
“George and Andrew are two of the best lawyers and finest people I know,” said SEC Chair Mary Jo White. “They are a perfect combination to lead the talented Enforcement Division professionals who protect investors and keep our markets safe and vibrant. George and Andrew will be a formidable team and I am grateful to both of them for taking on this extremely important responsibility.”