Stephen M. Cutler, Director of the Securities and Exchange Commission's Division of Enforcement, announced today that he intends to leave the Commission in about a month to return to the private sector. Cutler, 43, was named Enforcement Director in October 2001.

Cutler led the SEC's investigations of some of the largest financial scandals, including those at Enron, WorldCom, Adelphia, Qwest, Tyco and HealthSouth. These investigations resulted in enforcement actions against Kenneth Lay, Jeffrey Skilling, Andrew Fastow, Scott Sullivan, John Rigas, Joseph Nacchio, Dennis Kozlowski and Richard Scrushy, among others.

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