SEC Market Abuse Unit Chief to Leave
Daniel Hawke, chief of the Division of Enforcement’s Market Abuse Unit, will leave the SEC this month after 16 years with the agency and return to the private sector, the SEC announced July 29. The unit’s deputy chiefs, Robert Cohen and Joseph Sansone, will become co-acting unit chiefs following Hawke’s departure, the agency said.
Hawke, who previously served as director of the agency’s Philadelphia regional office, headed the Market Abuse Unit since its inception in January 2010. The unit’s mission is to scrutinize hard-to-detect insider trading activity, market structure violations, market manipulation and other trading abuses. More than 60 attorneys and industry specialists, located in eight SEC offices, are assigned to the unit.
Under Hawke, the Market Abuse Unit "used technology and quantitative analysis to detect insider trading and conduct groundbreaking ‘trader-based’ investigations," the agency said.
Hawke began his tenure with the SEC in 1999 as a Division of Enforcement staff attorney, and was promoted to branch chief in 2002. He was appointed as associate director for enforcement in the Philadelphia office in March 2005, and become regional director in April 2006.