New SEC Alums Swarm ‘Revolving Door’ to Financial, Law Firms

ByAndrew Ramonas, Bloomberg BNA

More than half the high-ranking SEC officials who left the agency since January 2016 landed at law and financial firms, with Debevoise & Plimpton LLP leading the pack.

Debevoise, private equity manager Blackstone Group LP and other firms hired 15 of the 26 Securities and Exchange Commission officials Bloomberg BNA tracked since their departures were announced in 2016 and 2017.

Firms tout the expertise their recently acquired colleagues gained at the agency. Government watchdogs, however, cite concerns about the possible influence these individuals have over their former co-workers, their commitment to the agency’s mission ...