The Securities and Exchange Commission's enforcement division has selected a new chief of the Office of Market Surveillance, The Wall Street Journal reported on Tuesday.
Mark Lineberry, formerly a branch chief, will succeed Joe Cella, who stepped down earlier this year, said the report.
The market surveillance office acts as the SEC enforcement division's liaison with the U.S. stock markets, receiving and analyzing information that is used to bring insider trading and stock-manipulation cases.
The promotion will give Lineberry a more prominent role at a time when the SEC has stepped up its focus on insider trading and has begun looking more closely at trading, according to the report.
The SEC has brought insider-trading charges against dozens of people so far this year. Meanwhile, the market surveillance office has been working in conjunction with a new SEC task force established to focus on hedge funds, said the report.
Source: Xinhua
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