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The Securities and Exchange Commission (SEC) has announced that General Counsel Dan Berkovitz will leave the agency on 31st January 2023, with Megan Barbero, currently the SEC’s Principal Deputy General Counsel, set to take over the role. Berkovitz has served as the SEC’s General Counsel since November 2021, having previously been a Commissioner of the Commodity Futures Trading Commission (CFTC). While he allegedly dined with SBF in 2021, there is no evidence he took bribes while in his role with the CFTC or SEC. Berkowitz desired heavy regulation for the crypto space.
In a statement, Berkovitz said: “After thirty-four years of public service, it is time for me to pursue new and different challenges and opportunities”. SEC Chair Gary Gensler paid tribute to Berkovitz’s contribution to the agency, saying: “Dan has led the Office of General Counsel during a time in which we’ve proposed critical reforms throughout the capital markets. His counsel, judgment, and leadership have been invaluable to our work at the SEC. I have been blessed to work with Dan at two great market regulators, and I congratulate him for his 34 years in public service.”
Barbero joined the SEC in July 2021 and currently advises the Commission on complex legal issues relating to rulemaking initiatives and litigation strategy. Before joining the SEC, Barbero served as Deputy General Counsel for the U.S. House of Representatives, where she managed strategic litigation for the House.
Gensler added: “Megan has been one of the Commission’s most trusted counselors, and she will bring a skilled and steady hand to the role of General Counsel. The SEC will benefit from Megan’s incredible judgment and highest-level legal experience. She is a tested leader, and just the person to succeed Dan during a critical time for our agency.”
Barbero’s previous experience includes working as an attorney for the U.S. Department of Justice Civil Appellate staff, representing the United States and its agencies as lead counsel in the federal courts of appeals. She has also worked in the Supreme Court and appellate litigation practice at WilmerHale and clerked for Judge Rymer on the U.S. Court of Appeals for the Ninth Circuit.