The Securities and Exchange Commission on Wednesday named the head of its Salt Lake City office to head its regional office in Atlanta.
Richard R. Best will succeed Walter Jospin, who is leaving the agency at the end of this month.
According to an SEC release, Best has supervised the SEC’s enforcement program in Utah for two-and-a-half years. The release said that, while Best was director, the Salt Lake office brought cases against, among others, companies that orchestrated Ponzi schemes of $207 million and $28 million.
Best will head an Atlanta office of more than 160 enforcement attorneys, accountants, investigators and compliance examiners who cover Georgia, North Carolina, South Carolina, Tennessee and Alabama.
”I am excited that Richard is taking over as head of our Atlanta Regional Office, and I thank Walter for his exemplary service,” said SEC Chairman Jay Clayton in the release. ”Richard has made a lasting impression in the Salt Lake Regional Office and I am confident that he will continue to protect the long-term interests of American investors through his leadership in Atlanta.”
Jospin told the Daily Report, “I know Rich very well. He is a terrific lawyer and has vast experience with the capital markets and the securities industry. He will be an excellent leader of the Atlanta office.”
Best joined the SEC from the Financial Industry Regulatory Authority in New York, where he was a senior director and chief counsel in its Department of Enforcement. Best also spent approximately 10 years as a prosecutor in the Office of the Bronx County District Attorney.
Best said in the release, ”I am excited and honored to serve with such a talented group of professionals in the Atlanta Regional Office.”
He graduated from the State University of New York, College at Old Westbury and earned his law degree from the Howard University School of Law.