WASHINGTON - The Securities and Exchange Commission announced Tuesday that Richard Walker, the director of its enforcement division, will return to private practice.
He has not yet accepted a new position, and he will remain at the SEC for a short time to help with the transition to a new chairman, the agency said.
Acting SEC Chairman Laura Unger praised Mr. Walker for his performance in three high-pressure positions at the SEC. Investors have benefited from his tenure, she said.
Mr. Walker has headed the enforcement division since 1998.
Before becoming enforcement director he had been the SEC's general counsel to two years. Still earlier he had been the regional director of its Northeast office in New York for five years.