The SEC's Office of Market Surveillance, which enforces regulation on U.S. markets, appointed a new head in Mark Lineberry. He steps in for Joe Cella, who resigned earliers this year, according to reports.
Lineberry comes into the position during a flurry of activity surrounding insider trading. The SEC has of late stepped up its efforts to detect market timing abuses and shine the spotlight on criminal misuse of insider information.In related news, former Goldman Sachs analyst Eugene Plotkin entered a guilty plea in a Manhattan federal court to charges of conspiracy to commit securities fraud and insider trading. The plot involved another Goldman analyst as well as a Merrill Lynch employee. The scheme is reported to have netted more than $6.7 million.