SEC Enforcement Chief Gurbir Grewal to Step Down After Leading Major Crackdowns

Posted on October 7th, 2024 at 4:08 PM
SEC Enforcement Chief Gurbir Grewal to Step Down After Leading Major Crackdowns

From the desk of Jim Eccleston at Eccleston Law

Gurbir Grewal, Director of Enforcement at the U.S. Securities and Exchange Commission (SEC), is stepping down after playing a central role in major enforcement actions against Wall Street and the cryptocurrency industry. According to AdvisorHub, since assuming the role in 2021, Grewal has overseen a team of 1,300 SEC enforcement attorneys and spearheaded numerous high-profile cases against financial firms and professionals.

During his tenure, Grewal focused on investor protection and strict compliance with securities laws. Under his leadership, the SEC aggressively pursued cases involving Wall Street firms’ use of unofficial communication channels, such as WhatsApp, resulting in billions of dollars in fines. In fiscal 2023 alone, the SEC imposed nearly $5 billion in penalties and reimbursements, following a record $6.4 billion in enforcement actions the previous year.

EC Chair Gary Gensler praised Grewal for his dedication, stating that he led the agency’s enforcement division "without fear or favor" and consistently prioritized protecting investors. Grewal, who previously served as New Jersey’s Attorney General, will leave the SEC on October 11, 2024. Sanjay Wadhwa, the current deputy director of the enforcement division, will step in as acting director following Grewal’s departure.

 

Eccleston Law LLC represents investors and financial advisors nationwide insecurities,employment, transition, regulatory, and disciplinary matters. 

Tags: eccleston, eccleston law, sec

Return to Archive

TESTIMONIALS

Previous
Next

You are the best attorneys in the country.

CC

LATEST NEWS AND ARTICLES

December 22, 2025
FINRA Overhauls Arbitration Rules to Rebalance Arbitrator Selection and Codify Forum Practices

The Financial Industry Regulatory Authority (FINRA) has approved significant amendments to its Codes of Arbitration Procedure designed to rebalance public arbitrator selection, increase transparency, and formalize several long-standing practices in the arbitration forum.

December 19, 2025
Industry Groups Press Senate at Advance Financial Exploitation Prevention Act

Several industry associations are urging the U.S. Senate to pass the Financial Exploitation Prevention Act, legislation that would allow mutual fund companies and their transfer agents to delay redemptions when they reasonably suspect elder financial abuse.

December 18, 2025
UBS Warns of Rising Default Risk in Private Credit

A UBS report signals that credit stress likely will intensify next year as borrowers confront inflation, elevated interest costs, and softening consumer conditions.