With the SEC’s announcement yesterday confirming that Director of Enforcement Robert Khuzami’s will soon be leaving the agency, the question now becomes who will succeed him as director? The answer to that is complicated somewhat by the fact that the person who will make that decision, current SEC Chairman Elisse Walter, is not necessarily the long-term replacement for Mary Schapiro. When Schapiro announced in November that she was stepping down as chairman, the White House quickly named Walter as the next chairman but clarified that President Obama planned to separately nominate a long-term replacement “soon.” Walter could still be among those considered for the long-term role, along with several others.
