New SEC Enforcement Chief Alex Oh Resigns

Alex Oh Alex Oh, the new head of the U.S. Securities and Trade Commission’s enforcement

Alex Oh

Alex Oh, the new head of the U.S. Securities and Trade Commission’s enforcement unit, has stepped down just after only a few days on the task.

The SEC announced Oh’s resignation on Wednesday, citing only “personal causes.” SEC Chair Gary Gensler had appointed her director of the Division of Enforcement on April 22.

But The New York Times, citing a person briefed on the issue, explained a court docket ruling Monday in a situation in which Oh, a previous lover at the legislation firm of Paul, Weiss, Rifkind, Wharton & Garrison, had represented ExxonMobil prompted her to resign.

The plaintiffs in the situation are Indonesian villagers who have accused Exxon of abetting human rights abuses in their region. In his ruling, U.S. District Choose Royce Lamberth ordered protection counsel to exhibit lead to why they really should not be sanctioned for alleging that a plaintiffs’ law firm was “agitated, disrespectful, and unhinged” all through a deposition “despite a absence of record proof supporting those allegations.”

He also ordered Exxon to “serve a duplicate of this buy on Ms. Oh.”

In her resignation letter, Oh explained the issue would be “an unwelcome distraction to the essential work” of the enforcement division.

Prior to non-public exercise, Oh, a graduate of Yale Law University, was a federal prosecutor in New York. “Alex brings to the position of director the correct mixture of values and knowledge to vigorously root out wrongdoing in our marketplaces,” Gensler explained in saying her appointment.

“With her perform as a prosecutor, professional bono knowledge, and time in non-public exercise, she has the skills as a highly highly regarded law firm to ensure that the SEC guards buyers,” he included.

The SEC explained Oh will be replaced on an performing basis by Melissa Hodgman, who returns to a position she had crammed from January 2021 to April 2021.

“Melissa is an fantastic attorney who has tested to be an powerful leader of the Enforcement Division,” Gensler explained. “I’m grateful that she will choose on this position again and search forward to doing the job intently with her to satisfy the mission of the SEC.”

Alex Oh, Division of Enforcement, ExxonMobil, Gary Gensler, U.S. Securities and Trade Fee