In a move that will presumably please Sen. Charles Schumer of New York, the SEC announced today that it has appointed George S. Canellos as Regional Director of the SEC's New York Regional Office. In this role, Canellos will oversee the enforcement and examination operations.

In his testimony last month before a Senate subcommittee, SEC Enforcement Director Robert Khuzami was pressed by Schumer as to when a Director of the New York office would be named. Schumer was also persistent in suggesting that someone with a prosecutorial background like Khuzami's would be the best choice. Canellos fits that bill, as he was a prosecutor from 1994 through 2002 with the U.S. Attorney's Office for the Southern District of New York. During his time as a prosecutor, Canellos served as Chief of the Major Crimes Unit, and also as Senior Trial Counsel of the Securities and Commodities Fraud Task Force.

Mr. Canellos is expected to join the SEC's staff in July 2009.