SEC Enforcement Director Gurbir Grewal Steps Down After Transformative Tenure

Gurbir Grewal, the U.S. SEC's enforcement director, is leaving after a tenure marked by increased scrutiny of Wall Street and cryptocurrency firms. Under his leadership, the SEC pursued major cases, including against Binance and Coinbase. His last day will be Oct. 11, with Deputy Director Sanjay Wadhwa stepping in as acting director.

Gurbir Grewal, the U.S. Securities and Exchange Commission's enforcement director, will be leaving the agency, the regulator announced on Wednesday. Grewal's three-year tenure saw heightened scrutiny on Wall Street and cryptocurrency firms.

During his time, the SEC initiated significant cases, including actions against cryptocurrency exchanges Binance and Coinbase. The regulatory body also charged FTX in a broader government probe into the exchange's multibillion-dollar fraud scheme.

Grewal led the SEC's 1,500-person enforcement unit and implemented a rigorous multi-year initiative focused on the use of unauthorized personal devices for business by Wall Street firms. His tenure will end on Oct. 11, with Deputy Director Sanjay Wadhwa taking over as acting director.

(With inputs from agencies.)