Dan Berkowitz, the general counsel of the Securities and Exchange Commission, will step down in January 2023

The US Securities and Exchange Commission announced that Dan Berkowitz will be leaving his position as general counsel at the end of January 2023.

The current SEC vice president — Megan Barbero — will replace Berkowitz upon his departure.

  • SEC Chairman Gary Gensler said he was “grateful” to Berkovitz’s “extraordinary public service and dedication to this agency” in the official announcement before adding,

“Dan led the Office of General Counsel during a time when we proposed important reforms across all capital markets. His advice, judgment and leadership have been invaluable to our work in the SEC. I have been fortunate to work with Dan on two major market organizations, and I congratulate him on his 34 years of public service.”

  • Berkowitz has held the position for just over a year after serving as CFTC Commissioner for three years (from 2018 to 2021).
  • He noted that his departure from the SEC was because the time had come for him to “pursue new and different challenges and opportunities.”
  • Although he may not be directly related, Berkowitz recently dined at an upscale Indian restaurant in Washington, D.C. with several FTX executives, including the now-disgraced former CEO Sam Bankman-Fried, according to emails released by Seen by The Washington Examiner.
  • Details of the conversation remain unclear, but emails reveal that FTX General Counsel Ryne Miller, who at the time demanded $50 from Berkovitz, covered the bill.
  • The former cryptocurrency exchange giant is known to have had warm relations with several US regulators before its high-profile crash in October. Interestingly, the dinner took place just days before FTX filed for bankruptcy.

“If there ever was a spectacle to evoke a vision of capital rigged against corrupt insiders at the expense of the little guy, this would be hard to top. Shortly before its collapse and a wave of fraud allegations, the SBF and his gang heard from a would-be regulator to try to rig the rules in their favour.” – commented Michael Chamberlain, Director of Public Trust Protection.

Featured image courtesy of The Wall Street Journal

Dan Berkowitz, the general counsel of the Securities and Exchange Commission, who resigned in January 2023 first appeared on CryptoPotato.

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