The Securities and Exchange Commission has named Mark Schonfeld regional director of its Northeast regional office, a post responsible for overseeing the Commissions offices in New York, Boston and Philadelphia. The region also has enforcement and examination programs in 13 states and Washington. Schonfeld replaces Wayne Carlin, who has since moved on to the private sector.
Schonfeld, currently an associate regional director for enforcement in the Northeast region, has been co-managing a team of lawyers, accountants and investigators tasked with tracking and prosecuting securities fraudsters, including mutual fund trading practices, accounting fraud, insider trading, broker/dealer practices and Internet fraud.
Prior to joining the SEC in 1996, Schonfeld was a litigation associate with the law firm Testa, Hurwitz & Thibeault . As co-head of enforcement in New York for the last three years, he was responsible for leading the staff in bring several of the SECs biggest cases, including the $250 million market-timing settlement with Alliance Capital Management .
The Commission has also appointed Merri Jo Gilette as regional director of its Midwest regional office. Gilette, a veteran of the SEC since 1986, will oversee both enforcement and examination programs in the region, made up of nine states.
Her many accomplishments include a financial fraud case against the largest non-profit healthcare firm in Pennsylvania and $71 million fraud case against an investment adviser who reinvested munis bond proceeds on behalf of local school districts. Gillette succeeds former director Mary Keefe, who has also decided to head for the private sector. She is expected to assume the position in late June.