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Hedge Fund Regulation: SEC Names New Chief of Complex Financial Instruments Enforcement Unit

New York (HedgeCo.net) – The SEC today announced that Michael J. Osnato, Jr. has been named chief of the Enforcement Division unit that conducts investigations into complex financial instruments.

“I am honored and gratified to have this opportunity to lead the Complex Financial Instruments Unit,” Osnato said in a SEC press release. “The unit has targeted fraud in some of the most challenging areas of the markets, and I look forward to working with the many talented professionals in the unit to keep the Enforcement Division on the cutting edge of today’s financial markets.”

Osnato helped spearhead the SEC’s case against JPMorgan Chase & Co. and two former hedge fund traders for fraudulently overvaluing a complex trading portfolio in order to hide massive losses, and the subsequent action in which the bank admitted that it violated federal securities laws.

The unit was created along with four other specialized enforcement units in 2010, and was formerly known as the Structured and New Products Unit. Prior to joining the SEC enforcement staff, Osnato worked at Shearman & Sterling LLP and later at Linklaters LLP in New York. He earned his bachelor’s degree from Williams College and his law degree from Fordham Law School.

Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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