Elaine C. Greenberg, Chief of the SEC Enforcement Division's Municipal Securities and Public Pensions Unit and Associate Director of the Philadelphia Regional Office, is leaving the agency at the end of July to enter the private sector. Greenberg was the first-ever Chief of the Municipal Securities and Public Pensions Unit, which was formed in January 2010, and has headed up the Philadelphia office's enforcement program since 2006.

As the first Chief of the Municipal Securities and Public Pensions Unit, Greenberg recruited, selected, trained and led staff members for the Unit across ten SEC offices, and established its priorities. Notable cases brought by Greenberg's unit include several discussed at this blog through the years, such as:

cases against the State of New Jersey and the State of Illinois, the first and second SEC enforcement actions against states, charging them with misleading bond investors about the funding of the states' pension systems;

a case against the City of Harrisburg, the first action charging a municipality with fraud for misleading statements made outside of its securities disclosure documents; and

a case against Goldman, Sachs & Co., the first “pay-to-play” action involving undisclosed in-kind non-cash campaign contributions to the then-Massachusetts state treasurer while he was a candidate for governor to obtain municipal underwriting business.

Greenberg joined the SEC in 1987, and has served at the agency for over 25 years.

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