Will they find a successor who can continue the momentum?
Robert S. Khuzami, head of the Securities and Exchange Commission’s enforcement division for the past four years, announced Wednesday that he plans to leave the agency in two weeks.
A former federal prosecutor, Khuzami is largely credited with restoring the reputation of a plodding unit that was ridiculed for its failure to detect Bernard Madoff’s massive Ponzi scheme or aggressively pursue financial misconduct on Wall Street.
After joining the agency in February 2009, Khuzami revamped the division into a more nimble team that has brought a record number of cases. An early one, which led to a $550 million settlement with Goldman Sachs in 2010, put the agency back on the enforcement map.