New SEC Enforcement Chief Alex Oh Resigns

Alex Oh

Alex Oh, the new head of the U.S. Securities and Trade Commission’s enforcement unit, has stepped down just after only a couple days on the position.

The SEC announced Oh’s resignation on Wednesday, citing only “personal motives.” SEC Chair Gary Gensler experienced appointed her director of the Division of Enforcement on April 22.

But The New York Moments, citing a man or woman briefed on the subject, stated a court ruling Monday in a case in which Oh, a previous companion at the legislation agency of Paul, Weiss, Rifkind, Wharton & Garrison, experienced represented ExxonMobil prompted her to resign.

The plaintiffs in the case are Indonesian villagers who have accused Exxon of abetting human rights abuses in their country. In his ruling, U.S. District Judge Royce Lamberth requested protection counsel to exhibit cause why they must not be sanctioned for alleging that a plaintiffs’ law firm was “agitated, disrespectful, and unhinged” during a deposition “despite a absence of report proof supporting individuals allegations.”

He also requested Exxon to “serve a copy of this get on Ms. Oh.”

In her resignation letter, Oh stated the subject would be “an unwelcome distraction to the vital work” of the enforcement division.

Prior to private apply, Oh, a graduate of Yale Legislation Faculty, was a federal prosecutor in New York. “Alex delivers to the job of director the appropriate blend of values and encounter to vigorously root out wrongdoing in our markets,” Gensler stated in announcing her appointment.

“With her do the job as a prosecutor, professional bono encounter, and time in private apply, she has the experience as a very revered law firm to assure that the SEC safeguards investors,” he added.

The SEC stated Oh will be changed on an acting foundation by Melissa Hodgman, who returns to a job she experienced filled from January 2021 to April 2021.

“Melissa is an remarkable legal professional who has verified to be an helpful leader of the Enforcement Division,” Gensler stated. “I’m grateful that she will consider on this job once more and look ahead to doing the job intently with her to satisfy the mission of the SEC.”

Alex Oh, Division of Enforcement, ExxonMobil, Gary Gensler, U.S. Securities and Trade Commission