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June 10, 2013

Recusals Likely for SEC's New Top Cop

“Andrew Ceresney was picked as the Securities and Exchange Commission’s new co-chief of enforcement partly because of his experience defending Wall Street in government investigations. Now, the agency has to work through the conflicts created by his private-sector past.

Mr. Ceresney, 41 years old, has named 25 of his former clients, both companies and individuals, at law firm Debevoise & Plimpton LLP in the financial-disclosure report he has to file as an SEC official, adding that there are a further three clients whose names he can’t disclose for legal reasons.

The report for Mr. Ceresney was released in response to a request by The Wall Street Journal after being approved this week by the agency’s ethics office.

The 25 clients disclosed by Mr. Ceresney include banks Credit Suisse Group AG, Fifth Third Bancorp, J.P. Morgan Chase & Co. and UBS AG, as well as private-equity powerhouse Carlyle Group LP. Other clients include big companies such as American Express Co., General Electric Co. and Hess Corp.”

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Read the full Wall Street Journal article here

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