Regulator’s ‘Top Cop’ Plans To Step Down

Fri., Jan. 23, 1998

Compiled From Wire Services

The “top cop” of the Securities and Exchange Commission, William R. McLucas, plans to leave the agency within the next few months, the SEC announced Thursday.

Rumors of McLucas’s impending departure had circulated for some time in Washington circles, but the announcement was a surprise and McLucas said he has not yet decided what he’ll do next.

McLucas, 47, has been director of the SEC’s Enforcement Division for eight years - longer than anyone who has held the post.

Of the 3,000 or so enforcement cases he has directed during his tenure, McLucas said he was most proud of, among others:

The investigation and settlement of fraud charges against Prudential Securities in October 1993, which resulted in payment of $900 million to people who bought limited-partnership interests.

The 1996 probe and settlement of alleged trading abuses and lax oversight of the Nasdaq Stock Market by the National Association of Securities Dealers, a self-policing group.

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Regulator’s ‘Top Cop’ Plans To Step Down

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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