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Meet the SEC's New Whistleblower

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Agency's newly appointed chief has watchdog reputation.

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Call it the revenge of Bernie Madoff.

Linda Thomsen, the top enforcement official at the US Securities and Exchange Commission, is likely to resign Monday, CNBC reports.

The enforcement division has come under fire for how it handled Madoff's alleged Ponzi scheme that apparently defrauded investors of as much as $50 billion.

Thomsen is expected to be replaced by former Assistant US Attorney Robert Khuzami, Reuters reports. It's not clear if Thomsen will stay on until Khuzami takes over.

Khuzami is a graduate of Boston University School of Law. He worked for 11 years in the US Attorney's white-collar crime unit before joining Deutsche Bank in 2002 as general counsel for the Americas.

Khuzami spoke at the 2004 Republican National Convention in New York and backed Bush's war on terror. The expected announcement may be part of new SEC Chairman Mary Schapiro's effort to beef up the agency's image on Wall Street.

Or it could be just re-arranging the deck chairs on the Titanic.

Either way, it looks like Thomsen is out and the SEC will get some much-needed adult supervision.
No positions in stocks mentioned.
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