Kenneth Lench, chief of the U.S. Securities and Exchange Commission enforcement unit that built cases against Goldman Sachs Group Inc. and JPMorgan Chase & Co., is stepping down after more than 23 years at the agency.
U.S. Securities and Exchange Commission investigators are considering extending the reach of enforcement actions in cases involving complex financial transactions to lawyers who provided the legal advice on fraudulent deals, an agency official said.
Goldman Sachs Group Inc. faces a regulatory probe in Britain and scrutiny from the German government after the U.S. Securities and Exchange Commission sued the firm for fraud tied to collateralized debt obligations.
Ying White, previously the head of Akin, Gump, Strauss, Hauer & Feld LLP’s investment funds practice, joined Clifford Chance LLP’s Beijing office as a partner in the corporate practice, the firm announced.
The U.S. Securities and Exchange Commission has asked several financial firms how they market “principal-protected” notes after investors said they lost more than $1 billion on the securities when Lehman Brothers Holdings Inc. collapsed, according to people familiar with the matter.