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WASHINGTON - When former New Jersey Attorney General Gurbir Grewal starts work at the U.S. Securities and Exchange Commission (SEC) on Monday, he will be the agency s first incoming enforcement director without recent ties to corporate America since 2005.
For two decades, the Wall Street watchdog has largely drawn its top enforcement cops from the white-collar defense attorneys bar, which critics say creates conflicts of interest that deter officials from properly punishing misconduct.
Grewal, 48, landed the role running the 1,300-person SEC unit after predecessor Alex Oh quit days into the job due to issues related to her private practice work. Progressives, including non-profit the Revolving Door Project, pushed for her ouster, in a political fracas that will put pressure on Grewal to deliver results.
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