[ by Howard Haykin ]

SEC Chairman Elisse Walter has interviewed and is seriously considering offering the Commission's top legal position to a former enforcement director.  Geoffrey Aronow, a partner with Boston's Bingham McCutchen, is the leading candidate to become the SEC General Counsel, according to 3 sources with knowledge on the matter.

Aronow would succeed Mark Cahn, who is stepping down in January.  An SEC spokesperson declined to comment, and Aronow didn’t respond to a phone call and e-mail seeking comment.  As the chief lawyer at the SEC, the general counsel has a central role in evaluating rules, advising the chairman and representing the SEC in legal disputes.   Daniel Nathan, a partner with Morrison & Foerster who was Aronow's deputy at the CFTC, said:  Aronow “would adapt extremely well to the role of regulator,” "would be a perfect choice.” 

Aronow's Profile.   Geoffrey Aronow graduated from Yale, then Yale Law School.  Thereafter:

• He served as CFTC Enforcement Director from 1995 to 1999.
• He serves on FINRA Dispute Resolution panels dealing with appeals of enforcement and disciplinary cases. 
• He recently represented KPMG LLP, the accounting firm whose Chinese affiliate is in dispute with regulators over its refusal (or possible inability) to turn over audit documents.
• He recently represented Christine Serwinski, former CFO at MF Global Holdings for the North American broker-dealer before it collapsed in 2011.

Since becoming SEC Chairman last week, when Mary Schapiro stepped down from the Agency, Ms. Walter has moved to fill a number of high-level vacancies.  Should Geoffrey Aronow be offered and agrees to accept the General General Counsel position, he would be Ms. Walter's first outside hire. 

On Wednesday, Ms. Walter named named Acting Directors for the SEC Corporate Finance and Trading and Market Divisions.

For further details, go to:  [ Bloomberg, 21/18/12 ].