SEC Names Clayton's Former Senior Advisor as New Head of Cyber Unit

The United States Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission (SEC) has named Kristina Littman as the new Chief of the Division of Enforcement’s Cyber Unit, which protects investors from cyber-related misconduct. Previous to the new appointment, Littman served as a senior advisor to SEC Chairman Jay Clayton since August 2017.

The announcement of Littman’s appointment was made on December 2nd, 2019, on the SEC’s official website. Jay Clayton commented that “Kristy’s innovative thinking and extensive experience within the Commission have made her an invaluable advisor and, most importantly, a tireless defender of America’s investors.”

“She will be an excellent leader for the Cyber Unit as it continues its work in this critical and continually evolving area.”

The announcement also said Littman's’ tenure at the SEC began in 2010 when she joined the SEC’s Division of Enforcement as a staff attorney in the Commission’s Philadelphia office.

Littman previously held senior attorney positions in the Market Abuse Unit, and the Trial Unit worked in white-collar and securities law

Between 2010 and 2017, she held senior attorney positions in the Market Abuse Unit and the Trial Unit, where she led “significant enforcement investigations and litigations”, including charges against Linkbrokers Derivates LLC and five registered representatives in an $18 million undisclosed markup scheme, as well as leading “insider trading charges against five registered representatives, charged with trading in advance of IBM Corp.’s acquisition of SPSS Inc,” among other cases.

According to Littman’s LinkedIn account, she practiced law in the greater Philadelphia area prior to her first position at the SEC. She specialized in white-collar and securities litigation.

As for Ms. Littman herself, she said that “I am honored to have the opportunity to serve as Chief of the Cyber Unit. I am thrilled to work with the talented women and men who have led the SEC’s efforts to pursue cyber-related misconduct.”

SEC and Federal Reserve seek crypto-related hires

Earlier this year, the SEC announced that it was seeking to hire its first-ever staff member dedicated specifically to providing the Commission with expertise on Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. “The Crypto Specialist provides expertise and coordinates TM activities regarding crypto and digital asset securities,” the announcement of the job opening explained, adding that the position would pay $239,000 per year.

The United States Federal Reserve announced the opening of a similar position last month. The US central bank said in November that it was seeking a manager who was expected to contribute to the research of distributed ledger technology and digital currencies, including stablecoins.