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News Summary: Enforcement head Khuzami leaving SEC

Published on NewsOK Modified: January 9, 2013 at 7:26 pm •  Published: January 9, 2013
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ENFORCEMENT CHIEF LEAVING: Robert Khuzami is leaving the Securities and Exchange Commission after leading the agency's efforts to penalize the nation's largest banks for actions that triggered the 2008 financial crisis.

LED MORTGAGE CASES: In his four-year tenure, Khuzami directed cases that accused banks of misleading investors about risky mortgage securities.

BIG SETTLEMENTS: The SEC enforcement efforts brought big settlements. Goldman Sachs agreed in July 2010 to pay $550 million to settle civil fraud charges. Similar deals followed with Citigroup, JPMorgan Chase and others. However critics have said the penalties were small compared with the banks' revenues and they complained that no senior executives were held accountable.