Washington, DC--(Newsfile Corp. - September 6, 2018) - The Securities and Exchange Commission today announced that Anita B. Bandy and Carolyn M. Welshhans have been named Associate Directors in the SEC's Division of Enforcement. In their new roles, Ms. Bandy and Ms. Welshhans will each supervise approximately 40 attorneys, paralegals, and staff responsible for investigating a wide variety of securities law violations.
Ms. Bandy joined the SEC in 2004 and has been an Assistant Director in the Division of Enforcement since 2013. During her time with the agency, Ms. Bandy has led multiple enforcement initiatives and has supervised dozens of investigations that resulted in actions spanning a wide range of matters, including accounting and offering fraud, market manipulation, and FCPA violations.
Ms. Welshhans, who joined the SEC in 2007, has served as an Assistant Director in the Division of Enforcement's Market Abuse Unit since 2015. She assumed a dual role as an Assistant Director in the Division's Cyber Unit after its formation last year. Ms. Welshhans has supervised dozens of investigations and contributed to many complex matters that have led to actions involving insider trading, high frequency trading, dark pools, and retail order handling.
Ms. Welshhans fills the position previously occupied by Scott W. Friestad, who passed away in April. Ms. Bandy fills the position previously occupied by Gerald Hodgkins, who left the agency. Ms. Bandy and Ms. Welshhans will assume their new positions effective immediately.
"Anita and Carolyn are excellent mentors and have demonstrated leadership, technical expertise, and judgment in their approach to investigations," said SEC Chairman Jay Clayton. "I am confident that American investors and our markets will be well-served by the elevation of these two dedicated public servants."
"In more than a decade with the SEC, Anita has demonstrated a unique ability to identify emerging market risks and efficiently marshal the Division's resources to address them," said Stephanie Avakian, Co-Director of the SEC's Division of Enforcement. "We are confident that in her new role, Anita will continue to lead the Division through her creativity, collegiality, drive, and enthusiasm."
Ms. Bandy added, "It's an extraordinary privilege to serve in this new role. My colleagues bring tremendous dedication, skill, and judgment to the job every day, and I am grateful for the opportunity to build on their contributions and to lead efforts to pursue swift, fair, and vigorous enforcement actions."
"Carolyn has been a highly-regarded manager and an influential thought leader in the Division as we have moved to confront novel challenges in the most complex corners of the market," said Steven Peikin, Co-Director of the SEC's Division of Enforcement. "Her vision and cutting-edge expertise will be tremendous assets to the Division for many years to come."
Ms. Welshhans added, "I am excited to work with this talented team to help protect investors and the integrity of our markets. I am truly honored by this appointment and will strive to be a credit to Scott's enduring legacy of bringing complex and significant cases."
Before joining the SEC, Ms. Bandy worked for five years as a white collar litigation associate at Proskauer Rose LLP, and she received her J.D. with honors from American University and her undergraduate degree with honors from the University of Michigan in 1999. Ms. Welshhans worked for four years as a white collar litigation associate at Dechert LLP, and she received her J.D. with honors from Boston College Law School in 2003 and her undergraduate degree with honors from the College of William and Mary in 2000.
