David Bergers Named District Administrator of the SEC's Boston District Office
FOR IMMEDIATE RELEASE
Washington, D.C., April 6, 2006 - Securities and Exchange Commission Chairman Christopher Cox today announced the appointment of David Bergers as the District Administrator of the Commission's Boston District Office (BDO). In this position, Bergers will oversee both the enforcement and examination programs in the New England area. He will assume his position immediately. Bergers succeeds Walter Ricciardi who became a Deputy Director of the SEC's Division of Enforcement in Washington, D.C. a number of months ago. Bergers, 38, currently is the Associate District Administrator for Enforcement in the BDO, a post he has held since July, 2003.
"David Bergers has consistently impressed the Commission with his professionalism, broad knowledge of the securities law, and compassion for individual investors," said Chairman Christopher Cox. "His impressive range of experience in the private sector and at the SEC, where he has held a succession of important management positions, will serve investors well."
SEC Director of Enforcement, Linda Thomsen stated, "I am very pleased that David Bergers will lead our Boston District Office. David is an exceptionally talented lawyer and a superb manager as well. During his tenure at the Commission, David has been responsible for many significant enforcement cases that exemplify the Commission's commitment to investor protection and fairness in the securities markets. David's record of achievement inspires great confidence in his leadership and excellent judgment.
Lori Richards, Director of the SEC's Office of Compliance Inspections and Examinations, added, "In taking over the helm of the Boston District Office, I am confident that David will continue to capably serve investors by continuing the office's fine work in providing compliance examination oversight of firms in the New England area."
Mr. Bergers said, "The Boston District Office has an outstanding team of examination and enforcement professionals dedicated to protecting investors. I look forward to working with each member of this team to accomplish the SEC's mission."
As an attorney and manager in the BDO, Bergers has spearheaded a number of important Commission enforcement actions. Most recently, Bergers played a key role in the Commission's market timing cases against Putnam, Massachusetts Financial Services Company (MFS) and two subsidiaries of Fleet Boston, in which the SEC recovered several hundred million dollars for injured investors. Bergers has also led investigations that resulted in several significant enforcement cases in the areas of insider trading, offering fraud and accounting fraud. In those cases, the Commission sued, among others, the former general counsel of a public company for his role in a financial fraud, a former broker who participated in a $40 million investment scheme, and the highest ranking attorney at another public company who sold his stock in advance of an announcement of bad news.
Bergers joined the BDO initially in 1998 as an enforcement staff attorney and subsequently served as a Branch Chief and as an Assistant District Administrator in the BDO's enforcement program. Prior to joining the SEC, Bergers was a litigation associate with law firms in Boston and Philadelphia. Between his years with the Commission, he also served as a Vice President and Assistant General Counsel of Tucker Anthony Inc., a regional broker-dealer located in Boston.
Bergers received his B.A., magna cum laude, from Eastern Nazarene College in 1989 and his J.D. from Yale Law School in 1992.
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