The Securities and Exchange Commission has announced that Daniel Hawke, chief of the Division of Enforcement’s Market Abuse Unit and former Director of the Philadelphia Regional Office, is leaving the agency after 16 years of service. He will step down in August to return to the private sector.
Hawke has headed the Market Abuse Unit since its inception in January 2010. The unit, comprised of more than 60 attorneys and industry specialists in eight SEC offices, focuses on hard-to-detect insider trading activity, market structure violations, market manipulation, and other trading abuses. Deputy Unit Chiefs Robert Cohen and Joseph Sansone will serve as co-acting Unit Chiefs following Hawke’s departure.