SEC trading director joins Citadel Securities in new role

Luparello becomes the second former SEC regulator to join Citadel Securities.

The former director of trading markets at the Securities and Exchange Commission (SEC) has joined Citadel Securities as general counsel.

Citadel Securities confirmed Stephen Luparello would begin his career with the market making firm in May this year.

The new role will see Luparello manage all legal matters related to the firm and he will work closely with the chief legal officer, Shawn Fagan.

Peng Zhao, CEO of Citadel Securities, explained the firm’s success is “rooted in its ability to attract some of the sharpest minds in the industry and its commitment to doing business the right way.”

Luparello added: “[Citadel Securities] has long been a leader in advocating for markets that are fair, open and transparent.”

He departed the SEC at the beginning of this year following Donald Trump’s election. Luparello was appointed director of trading in 2014 and played a key role in improving transparency across trading platforms, clearing agencies and broker-dealers

Luparello is the second former SEC regulator to recently join Citadel. Gregg Berman, formerly a director of the office of analytics and research trading division at the SEC, joined Citadel in September last year as director of research.