After 12 years at the Securities & Exchange Commission, Fredric Firestone, an associate director in the Division of Enforcement, is leaving next month to join the Washington office of McDermott Will & Emery as a partner.
At the SEC, Firestone led the SEC's investigations involving the collapse of the Auction Rate Securities market. According to the SEC, the ARS settlements reached with multiple financial services firms resulted in the return of more than $50 billion to tens of thousands of harmed investors — the largest financial remedy in the history of the commission.
Firestone, 49, joined the SEC staff in June 1997 as a staff attorney in the Division of Enforcement. He became a branch chief in 1999, an assistant director in 2003, and an associate director in 2006.
"Rick is a first-rate talent whose commitment to the SEC's mission is in the finest tradition of senior officers in the Enforcement Division," said Robert Khuzami, director of the SEC's Division of Enforcement in a statement. "His contributions to the division's successes are many, and he will be sorely missed."