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Head of Securities Commission’s Cyber Unit Steps Down

Robert A. Cohen, the head of the Cyber Unit of the US Securities and Exchange Commission’s (SEC) Division of Enforcement, has recently resigned from his job. 

The news was shared in a recently released press statement. According to the official SEC announcement, Cohen has been the Cyber Unit’s chief ever since the unit was established in 2017. However, he has served in the SEC for 15 years. 

The Commission’s Cyber Unit handles all incidents of securities violations regarding digital assets and cryptocurrencies. The group also looks out for any cyber-connected trading infractions, like hacking to gain sensitive information that shouldn’t be disclosed to the public. The unit is also in charge of cybersecurity leaks and operations at financial institutions and public firms. 

Cohen’s Time

Cohen’s time heading the unit was a productive one. He oversaw several investigations, including the lawsuit against Kik for operating an unlicensed token offering amounting to $100 million. He was also responsible for charging boxing champion Floyd Mayweather Jr. and DJ Khaled for illegally promoting an initial coin offering (ICO).

Cohen’s colleague and the co-director of the Cyber Unit Steven Peikin only had positive words to say. He said that the Cyber Unit was very successful under Cohen’s strategic leadership. He added that their group quickly started filing relevant cases that safeguarded the interest of investors and showed the SEC’s capacity to respond swiftly to different challenges. 

Jay Clayton on the Topic

SEC Chairman Jay Clayton acknowledged Cohen’s leadership and expertise in taking on the development of the Cyber Unit. He mentioned that thanks to the outgoing Unit head, the Cyber division is in a good position to continue their work in protecting retail investors and the market.

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