Thrilling Announcement: Dan Berkovitz Departs as Megan Barbero Takes Charge as General Counsel of SEC

Megan Barbero succeeds Dan Berkovitz as General Counsel of SEC

The Securities and Exchange Commission announced today that General Counsel Dan Berkovitz will leave the agency on January 31, 2023. Megan Barbero, the SEC’s current Principal Deputy General Counsel, will be named General Counsel upon Mr. Berkovitz’s departure.

I am grateful for Dan’s outstanding public service and dedication to this agency,” SEC Chair Gary Gensler said. “Dan has led the Office of General Counsel during a period in which we proposed critical capital-market reforms. His advice, judgment, and leadership have been invaluable to the SEC‘s work. I have had the privilege of working with Dan at two outstanding market regulators, and I congratulate him on his 34 years of public service.”

“Megan has been one of the Commission’s most trusted counselors, and she will bring a skilled and steady hand to the role of General Counsel,” added Chair Gensler. Megan’s exceptional judgment and high-level legal experience will be beneficial to the SEC. She is a proven leader, and she is the ideal person to succeed Dan at this critical juncture in our organization’s history.”

Mr. Berkovitz was named SEC General Counsel on November 1, 2021. From September 2018 to October 2021, he was a Commissioner of the Commodity Futures Trading Commission (CFTC). Prior to his appointment and unanimous confirmation to the CFTC, Mr. Berkovitz was a partner and co-chair of the law firm WilmerHale’s futures and derivatives practice.

Dan Berkovitz Departs as Megan Barbero Takes Charge as General Counsel of SEC

He was also an Adjunct Professor at Georgetown University Law School and the American Bar Association Committee on Derivatives and Futures Law’s Vice Chair.

From 2009 to 2013, he served as the CFTC’s General Counsel. Mr. Berkovitz previously worked as a senior staff attorney for the United States Senate Permanent Subcommittee on Investigations and as a Deputy Assistant Secretary in the Department of Energy’s Office of Environmental Management. He graduated from Princeton University with an A.B. in Physics and from the University of California, Hastings College of the Law with a J.D.

Mr. Berkovitz stated, “After thirty-four years of public service, it is time for me to pursue new and different challenges and opportunities.” “It has been a tremendous honor and privilege to work with so many exceptionally talented and dedicated people throughout this agency to help the SEC achieve its mission of improving investor protection, strengthening our capital markets, and facilitating capital formation.

The resilience, vibrancy, and integrity of our capital markets are due, in large part, to the vigilance of this agency and the extraordinary people who work here. I want to thank Chair Gensler for giving me another front-row seat under his visionary and energetic leadership to help strengthen our financial markets.

I also want to thank Commissioners Peirce, Crenshaw, Uyeda, and Lizarraga, as well as former Commissioners Lee and Roisman, for their help and the regular conversations we had. And I thank all of my colleagues in the Office of General Counsel for their trust, collegiality, and unwavering commitment to our Office’s and the SEC’s mission.”

Ms. Barbero joined the SEC in July 2021 and now advises the Commission on complex legal issues pertaining to rulemaking initiatives and litigation strategy. Ms. Barbero previously worked as the Deputy General Counsel for the United States House of Representatives, where she oversaw strategic litigation.

Ms. Barbero previously worked as an attorney for the United States Department of Justice Civil Appellate Staff, where she represented the United States and its agencies as lead counsel in federal courts of appeals.

Ms. Barbero previously worked at WilmerHale in the Supreme Court and appellate litigation practices. Ms. Barbero clerked for Judge Rymer on the Ninth Circuit of the United States Court of Appeals. She attended Harvard University and Stanford Law School.

“I am grateful to Dan for leading the Office of General Counsel during this critical period, and I will miss working with him,” Megan Barbero said. “I am honored to have been asked to serve the Commission in this new capacity, and I look forward to continuing to collaborate with my outstanding SEC colleagues.”

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