The SEC General Counsel has announced that he will depart the agency in January. Berkovitz reportedly had at least one recent dinner with former FTX CEO – Sam Bankman-Fried.
The U.S. Securities and Exchange Commission’s (SEC) General Counsel has declared his intention to leave the agency in January. According to a Dec. 22 article by the Washington Examiner, SEC General Counsel Dan Berkovitz said that he will be departing the organization on January 31. SEC Chair Gary Gensler said he was grateful for Berkovitz’s exceptional public service and his dedication to the agency.
“After thirty-four years of public service, it is time for me to pursue new and different challenges and opportunities,” Berkovitz said.
He said that he is leaving the SEC because it was time for him to pursue opportunities and challenges that were fresh and different. According to emails obtained by the Washington Examiner and perhaps unrelated, Berkovitz recently dined with many FTX executives in Washington DC, including the now-disgraced former CEO Sam Bankman-Fried.
SEC’s Backroom Deals With Bad Actors
According to The Examiner, Berkovitz had cozy relationships with FTX and SBF. It cited emails obtained by the watchdog Protect the Public’s Trust, which also reported on the resignation.
In October 2021, it was reported that SBF, FTX General Counsel Ryne Miller, and FTX President Brett Harrison met with Berkovitz in a high-end restaurant. According to Michael Chamberlain, director of Protect the Public’s Trust, if ever there were a situation to conjure up a notion of a D.C. tilted favor dishonest insiders at the expense of the underdog, it would be impossible to beat this one.
He also mentioned that SBF and his gang were courting one of their prospective regulators just prior to its collapse and a slew of fraud allegations in an effort to manipulate the regulations to their benefit.
Senator Tom Emmer, a Republican, also made reference to several meetings between the SEC and FTX, saying that they were developing a unique regulatory framework to benefit FTX.
