Former Prosecutor Becomes NY’s SEC Chief

According to the Securities and Exchange Commission, George S. Canellos will become the new director the New York regional office, based in Manhattan. Canellos is a former federal prosecutor who will bring his prosecuting experience to the office that has become so crucial in light of the Wall Street meltdown.

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Canellos, a graduate of Harvard University and Columbia University School of Law, is expected to take a more aggressive approach toward Wall Street, as his background as a prosecutor would suggest. The SEC holds the major Wall Street firms accountable to responsible business practices, something that would need to be especially prevalent in these tough times.
 
Although he is currently working for the law firm Milbank, Tweed, Hadley & McCloy, Canellos has extensive experience in investigating major financial crimes, mostly having to do with fraud. As part of New York’s Southern District’s U.S. Attorney’s Office, Canellos was the chief of the major crimes unit.