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U.S. Securities and Exchange Commission

Valerie Caproni, Director of the Commission's Pacific Regional Office, To Leave the Commission



Washington, D.C., May 31, 2001 – Valerie Caproni, Director of the Securities and Exchange Commission's Pacific Regional Office, today announced that she will be leaving her position at the end of July to join the New York law firm Simpson Thacher & Bartlett.

Ms. Caproni, 45, became Regional Director of the Pacific Region in September 1998. As Regional Director, Ms. Caproni oversees Commission offices in Los Angeles and San Francisco and is responsible for the administration of the agency's enforcement and regulatory programs in California, Oregon, Washington, Idaho, Montana, Arizona, Alaska and Hawaii.

Under Ms. Caproni's leadership, the Pacific Region has filed some of the Commission's most significant enforcement actions, including those involving the Emulex internet hoax, financial fraud at McKesson HBOC, Ponzi schemes at Capital Consultants, Pinn Fund and TLC, and a kickback scheme operated by noted investment adviser Alan Bond.

SEC Acting Chairman Laura Unger said, "The ability of the SEC to enforce the securities laws and to protect investors derives from the dedicated efforts of people like Valerie Caproni. She has made a significant contribution to the work of the Commission during her tenure as Regional Director of the Pacific Regional Office. On behalf of the Commission, I thank Valerie for her fine service and wish her well in her new position".

SEC Director of Enforcement Richard Walker said, " Valerie Caproni has played a critical role in the success of the Pacific Region's enforcement and regulatory programs over the past three years. Under her leadership and guidance, the Regional Office has initiated a number of important cases that have made our markets safer for investors. I wish Valerie continued success in her return to private practice".

In announcing her plan to leave the Commission, Ms. Caproni said, "Serving the investing public by being Regional Director of the Commission's west coast operation has been a highlight of my professional life. I have been honored to be a part of the talented and dedicated staff in the Pacific Region. I will always look back to my time with the Commission with enormous fondness and professional satisfaction."

Contact: James A. Clarkson, tel.: (202) 942-4580



Modified: 05/31/2001