Sokobin to lead SEC's office of risk assessment

The Securities and Exchange Commission (SEC) has appointed Jonathan S. Sokobin as director of the agency's office of risk assessment (ORA), which is responsible for helping SEC develop new ways to anticipate emerging issues and address potential problems in the securities markets.

SEC Chairman Christopher Cox, said: ‘Jonathan is being tapped to lead a major initiative that will knit together the agency's resources for the identification of market risks and dangerous illegal practices before they metastasize into truly lethal consequences for investors.’

Chairman Cox added: ‘This year, under Jonathan's leadership, the Office of Risk Assessment will see a doubling of its professional staff to provide resources and analytical support to the Divisions of Enforcement, Trading and Markets, Investment Management, and Corporation Finance, as well as the Office of the Chief Accountant and the Office of Compliance Inspections and Examinations. Jonathan's experience, knowledge, and professional training have well equipped him for this vital function of looking around the corners and over the horizon, so that the SEC's efforts will not always be focused on the money that got away, and the lessons of the last major scandal.’

Sokobin said: ‘I am excited to face this new challenge and appreciative of the opportunity. The Office of Risk Assessment can serve as a focal point for collecting financial market intelligence in order to help the Commission meet the challenges of regulating in a rapidly evolving world to ensure U.S. markets remain effective, efficient, fair and competitive. I look forward to working closely with the Commission, the staff and market leaders in order to meet ORA's crucial objectives.’

The office of risk assessment was created in 2004. Sokobin will lead the expansion of the office announced by Chairman Cox earlier this month. The expansion will include providing additional resources to SEC divisions and offices responsible for examining market risks and identifying dangerous illegal practices before they spread into wide-scale problems to the detriment of investors.

Sokobin joined the SEC in 1998 and has served as deputy chief economist since 2002. Sokobin replaces the inaugural director of the office of risk assessment, Charles Fishkin, who left the Commission last year.