The Director of Enforcement for the U.S. Securities and Exchange Commission, Gurbir Grewal, has announced his departure from the agency, effective October 11. He will be succeeded by Deputy Director Sanjay Wadhwa, who will serve as Acting Director of the Enforcement Division. Sam Waldon, currently Chief Counsel for the enforcement division, will take on the role of Acting Deputy Director.
SEC Chairman Gary Gensler praised Grewal, stating, "Gurbir Grewal has been an invaluable asset to the SEC, leading the Division of Enforcement with integrity and dedication to protecting investors and upholding securities laws." During Grewal's tenure, the SEC has overseen over 2,400 enforcement matters, resulting in more than $20 billion in disgorgement and civil penalties, and over $1 billion in whistleblower awards. The agency highlighted Grewal's notable track record in crypto-related enforcement, with over 100 actions addressing noncompliance in the crypto space, including major trading platforms. Recent enforcement actions and settlements in the crypto sector include those against eToro, Mango Markets, and Galois Capital.