Trading director joins White in departure from SEC

Stephen Luparello announces departure from US regulator.

The Securities and Exchange Commission (SEC) has announced Stephen Luparello, director of trading and markets, will leave the regulator by the beginning of next year.

He was appointed as director of the unit in February 2014 and has played a key role in improving transparency across trading platforms, clearing agencies and broker-dealers, the SEC said.

Heather Seidel, the current chief counsel for the division of trading and markets, will succeed Luparello as the acting director.

His departure follows chair at the SEC Mary Jo White’s decision to leave the regulator at the end of President Obama’s administration. 

Discussing Luparello’s departure, White said “his leadership and expertise have helped produce both important new protections for investors today and a strong foundation from which the Commission can continue to further strengthen our markets for years to come.” 

Luparello added the trading and markets unit at the SEC will “continue to make great progress in these important areas on behalf of investors and our markets.”