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Robert Khuzami, head of the U.S. Securities and Exchange Commission’s Enforcement Division, is leaving after a nearly four-year tenure that included a massive restructuring and a record number of new cases. Khuzami, who has not announced his future plans, joined the SEC when the agency was at a low point, reeling from its failure to detect Bernard Madoff’s Ponzi scheme. He moved swiftly to transform the 1,100-member division, overseeing a top-to-bottom overhaul of how the agency detects and prosecutes wrongdoing in the financial marketplace. But he also faced criticism for failing to go after more top Wall Street executives in connection with the financial meltdown and for settling some cases on the cheap and without an admission of wrongdoing.

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