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SEC Chief Counsel Ex-Colleague of Bank Whistleblower
The good news for the Securities and Exchange Commission is that its new chief counsel, Robert Rice, comes to the job with plenty of relevant experience from his work at Deutsche Bank AG. The bad news is that one of the big Dodd-Frank whistleblower cases now on Rices desk comes courtesy of a former Deutsche Bank colleague.
Rice is the third Deutsche Bank executive since 2001 to hook up with the SEC for a stint. Robert Khuzami was Deutsche Banks general counsel in the Americas before moving to becoming the SECs head of enforcement in 2009. He resigned earlier this year before White was nominated as SEC chair in late January. Richard Walker, Deutsche Banks current general counsel, worked as the SECs director of enforcement from 1998 to 2001.
An agency spokesperson told BuzzFeed not to worry about Rice having a conflict of interest in the Ben-Artzi case: We have a robust system in place to avoid even the appearance of partiality in our work.