Enforcement Director Linda Chatman Thomsen to Leave SEC

FOR IMMEDIATE RELEASE
2009-22

Washington, D.C., Feb. 9, 2009 — The Securities and Exchange Commission announced today that Linda Chatman Thomsen, Director of the Division of Enforcement, plans to return to the private sector. Ms. Thomsen led a historic period of SEC law enforcement during which the Commission brought more than 2,000 enforcement actions and returned billions of dollars to harmed investors. In the past two years, the Commission has brought the second and third-highest number of enforcement actions in agency history.

Among the many precedent-setting enforcement actions led by Ms. Thomsen were:

In addition, under Ms. Thomsen's leadership the Division of Enforcement brought hundreds of financial fraud cases, including those against AIG, Fannie Mae, Nortel, and Tyco, and dozens of insider trading cases. Many of the insider trading cases were brought against securities industry and other professionals, including a case against a Dow Jones board member, another involving two overlapping schemes by securities industry professionals that rivaled cases from the days of Ivan Boesky, and several others involving sophisticated trading rings of global proportion.

"Linda's achievements have been nothing short of extraordinary, even heroic, in an era of unprecedented challenges in our securities markets," said SEC Chairman Mary L. Schapiro. "Linda has distinguished herself in public service through her keen intellect, profound understanding of our securities laws, and relentless pursuit of wrongdoers. While Linda's wisdom, judgment, integrity and humor will be sorely missed by all of her colleagues, the agency and the investors we serve will always be grateful for Linda's service."

Ms. Thomsen said, "Working on the staff of the Commission has been an extraordinary privilege. For nearly 14 years, I have been surrounded by smart, hardworking, creative, wonderful colleagues who have been devoted to public service, this agency, and its essential mission of investor protection. There is no higher honor than to serve the public and I am grateful to have had the opportunity to do so during my time at the Commission."

Ms. Thomsen joined the SEC staff as an Assistant Chief Litigation Counsel in 1995. She served as an Assistant Director, an Associate Director, and Deputy Director of the Division of Enforcement before former Chairman William H. Donaldson appointed her Director in 2005. Before joining the Commission's staff, she was in private practice at the law firm of Davis Polk & Wardwell and served as an Assistant United States Attorney for the District of Maryland. Ms. Thomsen earned her A.B. in Government from Smith College and received her J.D. from Harvard Law School.

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