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SEC Loses Inspector General, Gains Whistleblower Official

The SEC has appointed a former U.S. special agent, Jane A. Norberg, as its deputy chief of the Office of the Whistleblower.

More than 14 years ago, for the U.S. Secret Service, Norberg worked with confidential informants in planning, organizing and conducting investigations of federal crimes. Those offenses included bank fraud, counterfeiting of U.S. currency, and forgery of federal checks and bonds.

The Office of the Whistleblower is part of the enforcement division, and was established via the Dodd-Frank Wall Street Reform and Consumer Protection Act. Individuals who voluntarily provide original information to the SEC that leads to successful enforcement actions can earn rewards for their information. 

“The whistleblower program is an important component of the SEC’s efforts to stop those who prey on investors and destroy the public’s trust in our capital markets,” Norberg said in a statement. “I am honored and excited to join the Commission staff and look forward to helping the agency build on the success achieved in the short time since the program was established.”

After her career as a special agent, Norberg was an associate at Shearman & Sterling, a law firm based in New York. She advised major public corporations on executive compensation disclosure, corporate governance issues and other securities law matters. 

Inspector General H. David Kotz will leave the agency at the end of January, and plans to become a marketing director at Gryphon Strategies, a private investigative services firm. His work will still involve helping root out corporate wrongdoing.

Kotz will be based in Gryphon Strategies’ Washington, D.C. office, and plans to focus on conducting corporate fraud investigations, assist whistleblowers in exposing fraud, and improve government accountability, according to a statement from the regulator. Kotz had joined the SEC in December 2007, and directed investigations and audits that significantly improved the agency’s operations, according to the SEC.

“While I will miss doing this important work, I am gratified knowing that nearly every aspect of the SEC has been significantly improved in the four years since I was named Inspector General,” according to a statement from Kotz.

Before joining the SEC, Kotz had been Inspector General of the Peace Corps and held several senior level positions at U.S. Agency for International Development.

Donna Mitchell writes for Financial Planning.














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