2013-01-01 SEC Press press_release 62 KB 2,456 chars

SEC Names LeeAnn Gaunt as Chief of Municipal Securities and Public Pensions Unit

Release
2013-240
Source PDF JSON
summary

LeeAnn Ghazil Gaunt was appointed chief of the SEC’s Municipal Securities and Public Pensions Unit, having previously led landmark enforcement actions including the first pay-to-play case against Goldman Sachs over in-kind political contributions, a $450,000 settlement with Southwest Securities, and recovery of over $530 million in hedge fund and market timing fraud cases.

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The SEC appointed LeeAnn Ghazil Gaunt as chief of its Municipal Securities and Public Pensions Unit, recognizing her leadership in major enforcement actions since joining in 2010. She supervised the agency’s first pay-to-play case against Goldman Sachs and an executive for in-kind political contributions to a Massachusetts state treasurer, and oversaw Southwest Securities’ $450,000 settlement for similar violations. Gaunt also helped recover over $230 million from a hedge fund Ponzi scheme, more than $300 million in a market timing case against Massachusetts Financial Services, and contributed to General Electric’s accounting fraud case involving improper hedge accounting.

narrative

The SEC appointed LeeAnn Ghazil Gaunt as chief of its Municipal Securities and Public Pensions Unit, a role she has effectively shaped since joining the agency in 2010. She led the SEC’s first-ever pay-to-play enforcement action in 2012 against Goldman Sachs and an executive for making in-kind political contributions to the then-state treasurer of Massachusetts. Gaunt also oversaw Southwest Securities’ $450,000 settlement for analogous violations and played a key role in recovering over $230 million from an alleged hedge fund Ponzi scheme and more than $300 million in a market timing case against Massachusetts Financial Services. Additionally, she contributed to the accounting fraud case against General Electric involving improper hedge accounting for derivatives. With 13 years at the SEC, including a decade in supervisory roles in Boston, Gaunt has handled a broad range of enforcement matters from insider trading to investment adviser violations. Prior to the SEC, she practiced law at Skadden Arps and Goodwin Procter. The SEC praised her judgment and leadership as instrumental to advancing investor protection in municipal securities and public pensions markets.

Enriched metadata

Scheme
public-corruption (97%)
Court
District of Massachusetts
Victim loss
$300,000,000
Classified public-corruption(confidence 97%). No EDGAR filing fingerprint (criminal/DOJ-side scheme). detection rule →
Parties
$450,000 to settle sec pay-to-play chargesfairfield universitygeneral electricleeann ghazil gauntmassachusetts financial services co.sec boston regional office for 13 yearsSecurities and Exchange Commissionsouthwest securities
Keywords
municipal securitiessecgauntsecuritiessecurities publicpublic pensionspensions unitmunicipalunitenforcementgaunt chiefchief municipalpublicpensionsleeann

Exhibits & Attached Documents (1)

Extracted insights

Dollar amounts 3
  • $300.00M $300 million $100M–$1B
  • $230.00M $230 million $100M–$1B
  • $450K $450,000 $100K–$1M
Entities 9
  • scheme_term $230 million from alleged hedge fund ponzi scheme
  • agency $450,000 to settle sec pay-to-play charges
  • person fairfield university
  • person general electric
  • person leeann ghazil gaunt
  • company massachusetts financial services co.
  • agency sec boston regional office for 13 years
  • agency Securities and Exchange Commission
  • company southwest securities
Triples 12
  • SEC appointed LeeAnn Ghazil Gaunt as Chief of Enforcement Division's Municipal Securities and Public Pensions Unit
  • SEC charged Goldman Sachs and an Executive Vice President for pay-to-play violations in September 2012
  • LeeAnn Ghazil Gaunt worked at SEC Boston Regional Office for 13 years
  • Southwest Securities agreed to pay $450,000 to settle SEC pay-to-play charges
  • LeeAnn Ghazil Gaunt helped recover $230 million from alleged hedge fund Ponzi scheme
  • General Electric charged with accounting fraud for improper hedge accounting for derivative instruments
  • Massachusetts Financial Services Co. settled market timing case with return of more than $300 million to investors
  • LeeAnn Ghazil Gaunt worked at Skadden, Arps, Slate, Meagher & Flom LLP in Boston
  • LeeAnn Ghazil Gaunt worked at Goodwin Procter LLP in Boston
  • LeeAnn Ghazil Gaunt earned degree from Fairfield University
  • LeeAnn Ghazil Gaunt earned degree from Northeastern University School of Law
  • Municipal Securities and Public Pensions Unit established in 2010
PDF (from attached: pdf)
In re SOUTHWEST SECURITIES · Source
Text layers
Extracted body text (2,456c) 
The Securities and Exchange Commission today announced the appointment of LeeAnn Ghazil Gaunt as chief of the Enforcement Division’s Municipal Securities and Public Pensions Unit. Ms. Gaunt has worked in the specialized unit since its inception in 2010, and supervised the agency’s first pay-to-play enforcement action for “in-kind” political campaign contributions in September 2012 when the SEC charged Goldman Sachs and an executive vice president for violations related to contributions to the then-state treasurer of Massachusetts. Ms. Gaunt has worked in the SEC’s Boston Regional Office for 13 years, including 10 in supervisory roles. She has broad investigative experience handling matters ranging from investment adviser violations to insider trading. “In her 13 years with the SEC, LeeAnn has demonstrated tremendous judgment and leadership as a valued member of our enforcement team,” said Andrew J. Ceresney, co-director of the SEC’s Division of Enforcement. “We are delighted that she has agreed to lead the Municipal Securities and Public Pensions Unit, which has amassed a strong record of enforcement actions and is an important focus for the division.” Ms. Gaunt said, “I am thrilled to have the opportunity to serve as chief of the Municipal Securities and Public Pensions Unit. I look forward to working with the dedicated and talented professionals in the unit and advancing the SEC’s investor protection efforts in this very important area of the nation’s financial markets.” Among other municipal securities cases overseen by Ms. Gaunt was a pay-to-play probe involving municipal securities dealer Southwest Securities, which agreed to pay more than $450,000 to settle SEC charges. Outside the municipal bond arena, Ms. Gaunt helped lead an emergency enforcement action against an alleged hedge fund Ponzi scheme that enabled the return of $230 million from overseas. She also helped lead an accounting fraud case against General Electric for improper hedge accounting for derivative instruments, and a market timing case against Massachusetts Financial Services Co. that resulted in the return of more than $300 million to investors. Prior to joining the SEC enforcement staff, Ms. Gaunt was in private practice in Boston, first at Skadden, Arps, Slate, Meagher & Flom LLP and later at Goodwin Procter LLP. She earned her bachelor’s degree from Fairfield University and her law degree from the Northeastern University School of Law.
OCR text (2,456c · plain-text · 99% conf) 
The Securities and Exchange Commission today announced the appointment of LeeAnn Ghazil Gaunt as chief of the Enforcement Division’s Municipal Securities and Public Pensions Unit. Ms. Gaunt has worked in the specialized unit since its inception in 2010, and supervised the agency’s first pay-to-play enforcement action for “in-kind” political campaign contributions in September 2012 when the SEC charged Goldman Sachs and an executive vice president for violations related to contributions to the then-state treasurer of Massachusetts. Ms. Gaunt has worked in the SEC’s Boston Regional Office for 13 years, including 10 in supervisory roles. She has broad investigative experience handling matters ranging from investment adviser violations to insider trading. “In her 13 years with the SEC, LeeAnn has demonstrated tremendous judgment and leadership as a valued member of our enforcement team,” said Andrew J. Ceresney, co-director of the SEC’s Division of Enforcement. “We are delighted that she has agreed to lead the Municipal Securities and Public Pensions Unit, which has amassed a strong record of enforcement actions and is an important focus for the division.” Ms. Gaunt said, “I am thrilled to have the opportunity to serve as chief of the Municipal Securities and Public Pensions Unit. I look forward to working with the dedicated and talented professionals in the unit and advancing the SEC’s investor protection efforts in this very important area of the nation’s financial markets.” Among other municipal securities cases overseen by Ms. Gaunt was a pay-to-play probe involving municipal securities dealer Southwest Securities, which agreed to pay more than $450,000 to settle SEC charges. Outside the municipal bond arena, Ms. Gaunt helped lead an emergency enforcement action against an alleged hedge fund Ponzi scheme that enabled the return of $230 million from overseas. She also helped lead an accounting fraud case against General Electric for improper hedge accounting for derivative instruments, and a market timing case against Massachusetts Financial Services Co. that resulted in the return of more than $300 million to investors. Prior to joining the SEC enforcement staff, Ms. Gaunt was in private practice in Boston, first at Skadden, Arps, Slate, Meagher & Flom LLP and later at Goodwin Procter LLP. She earned her bachelor’s degree from Fairfield University and her law degree from the Northeastern University School of Law.

Related documents (1)