New York AG Names Investor Protection Chief

New York Attorney General Eric Schneiderman has named a veteran litigator to head the state's investor-protection bureau.

Chad Johnson will be responsible for enforcement of securities laws and financial oversight, the attorney general announced Wednesday. The previous head of the bureau, Marc Minor, resigned in August.

Johnson joined Schneiderman’s office last year and most recently had been deputy attorney general. He played lead roles in several investigations, including the probe of companies that sold and pooled residential mortgage-backed securities before the financial crisis and the investigation of JPMorgan Chase (JPM) over the information the bank provided shareholders in proxy contests. That investigation  led to the  bank agreeing to provide shareholders access to interim voting results, the New York attorney general said in his news release.

Johnson also led Schneiderman’s investigation into Thomson Reuters’ practice of selling market-moving information before it is made available to the public.  

Johnson “has already successfully led a number of the most important and noteworthy matters in our office—from investigating the conduct that led to the financial crisis in 2008 to ensuring that no one has an unfair early advantage in the markets,” Schneiderman said in the news release. “Under [Johnson]’s stewardship, I’m confident that the investor protection bureau will continue to advance Wall Street reforms that promote fairness and a level playing field -- as well as hold wrongdoers accountable for their actions.”

Before joining the New York attorney general’s office, Johnson was a partner at Bernstein Litowitz Berger & Grossmann.

Earlier this month Schneiderman announced plans to sue Wells Fargo (WFC) over violations of the national mortgage settlement. In August it led a crackdown on online payday lenders that circumvent local usury laws through affiliation with Native American tribes.