Julie Riewe, co-chief of the Securities and Exchange Commission’s enforcement unit overseeing financial advisors, will be leaving in February, the SEC announced Monday.
The remaining co-chief, Marshall Sprung, will run the section composed of about 80 lawyers, industry experts and other professionals.
In announcing Riewe’s departure, the agency praised her for helping to bring some first-of-their-kind charges against misconduct in the asset management industry.
Last April, she said advisors that report misdeeds and cooperate with the SEC’s enforcement staff will be treated more leniently than those who do not.
Also in recent months, Riewe said conflicts of interest are permissible for advisors if they are disclosed.