Mark K. Schonfeld Named Regional Director of SEC's Northeast Regional Office


Washington, D.C., June 8, 2004 - The Securities and Exchange Commission announced today the selection of Mark K. Schonfeld as the Regional Director of the Commission's Northeast Regional Office (NERO). The region is comprised of offices in New York City, Boston, Massachusetts and Philadelphia, Pennsylvania and has both enforcement and examination programs in thirteen states and the District of Columbia. Mr. Schonfeld will oversee these activities as they are conducted throughout the region. He succeeds Wayne Carlin, the former Regional Director, who is now in private practice.

Mr. Schonfeld is currently one of two Associate Regional Directors for Enforcement in NERO. In that capacity, he co-managed a large staff of attorneys, accountants and investigators in the investigation and prosecution of securities fraud, including mutual fund trading practices, accounting fraud, insider trading, fraud by broker-dealers and investment advisers and Internet fraud.

Prior to his appointment to his present post in 2001, he served in other positions of increasing responsibility in both NERO and the Boston District Office. Before joining the SEC, Mr. Schonfeld was a litigation associate with the law firm of Testa, Hurwitz & Thibeault from 1989 to 1996. He began his legal career as a law clerk for Judge Ellsworth A. Van Graafeiland of the U.S. Court of Appeals for the Second Circuit.

Mr. Schonfeld has over 15 years of legal experience in federal securities law enforcement and litigation - eight of which have been with the Commission. As co-head of enforcement in New York for the last three years, he led the staff in bringing several of the Commission's major cases, including a $250 million settlement with Alliance Capital Management relating to mutual fund market timing, a $50 million settlement with Lehman Brothers relating to research analyst conflicts of interest, and a $100 million settlement with Credit Suisse First Boston relating to its IPO allocation practices. Mr. Schonfeld brought one of the Commission's first cases charging violations of Regulation FD against Raytheon Company and its chief financial officer. Mr. Schonfeld also led the staff in bringing several cases involving accounting fraud by public companies, including Trump Hotels & Casino Resorts, American International Group and Aurora Foods. Most recently, Mr. Schonfeld has been coordinating the Commission's nationwide investigations of mutual fund trading abuses.

SEC Chairman William Donaldson said, "Mark brings a tremendous depth of experience and expertise to this important position. He is an excellent attorney and manager who has a proven track record of success both with the SEC and in private practice. Mark carries out his responsibilities with care, intelligence, and effectiveness. I am delighted to have a person of such high caliber and talent in this position at the SEC."

SEC Director of Enforcement Steve Cutler added, "Having worked closely with Mark over the past few years, I have come to appreciate his outstanding legal and management skills, his superb judgment and his unflappable temperament. As an Associate Regional Director for Enforcement in the Northeast Regional Office, he has brought a number of the Commission's most significant enforcement actions. I am confident that he will be an excellent leader of our largest regional office."

Mr. Schonfeld stated, "It is an honor to lead an office of such distinguished professionals. This office, at the center of the nation's financial markets, has been at the forefront of the SEC's enforcement and examination mission. I look forward to continuing that tradition and to meeting the challenges of the future."

Mr. Schonfeld received his B.A. degree, summa cum laude, from the University of Rochester and his J.D. degree, cum laude, from Harvard Law School.


Last modified: 6/8/2004