FOR IMMEDIATE RELEASE

2019-247

The Securities and Exchange Commission today announced that Kristina Littman has been named Chief of the Division of Enforcement’s Cyber Unit, a national, specialized unit that focuses on protecting investors and markets from cyber-related misconduct. Ms. Littman succeeds Robert Cohen, who left the Commission in August 2019.

Ms. Littman joined the SEC’s Division of Enforcement in 2010 as a staff attorney in the Philadelphia office. Since then, she has held senior attorney positions in the Market Abuse Unit and the Trial Unit. During her SEC tenure, Ms. Littman conducted and led significant enforcement investigations and litigations, including:

Insider trading charges against a political intelligence consultant, a government employee, and two hedge fund analysts in a scheme to trade on nonpublic information concerning government plans to cut Medicare reimbursement rates.

Charges against an investment adviser and its two principals for defrauding family and friends invested in a private equity fund they managed.

Insider trading charges against five registered representatives, charged with trading in advance of IBM Corp.’s acquisition of SPSS Inc.

Fraud charges against Linkbrokers Derivatives LLC, and five registered representatives in an $18 million undisclosed markup scheme.

Since August 2017, Ms. Littman has served as Senior Advisor to SEC Chairman Jay Clayton. In her role as Senior Advisor to Chairman Clayton, Ms. Littman has been the lead advisor to the Chairman on matters involving the Division of Enforcement and Commission adjudications. She has also advised on regulatory and policy matters relating to cryptocurrencies and digital assets, international affairs, trading and markets, and investment management.

“Kristy’s innovative thinking and extensive experience within the Commission have made her an invaluable advisor and, most importantly, a tireless defender of America’s investors,” said Chairman Clayton. “She will be an excellent leader for the Cyber Unit as it continues its work in this critical and continually evolving area.”

“I am happy to welcome Kristy back to the Division of Enforcement to lead the Cyber Unit,” said Stephanie Avakian, Co-Director of the SEC’s Division of Enforcement. “Kristy’s experience will be invaluable in furthering the Cyber Unit’s broad mandate of protecting investors from cyber-related threats.”

“Kristy’s diversity of experience in the Commission – as an investigator, a trial lawyer, and a senior advisor – have prepared her well to lead the Cyber Unit,” said Steven Peikin, Co-Director of the SEC’s Division of Enforcement. “We look forward to working with her in her new management role.”

Ms. Littman said, “I am honored to have the opportunity to serve as Chief of the Cyber Unit. I am thrilled to work with the talented women and men who have led the SEC’s efforts to pursue cyber-related misconduct.”

Prior to joining the SEC, Ms. Littman practiced law at Drinker Biddle & Reath LLP, specializing in white collar and securities litigation. Ms. Littman earned her J.D. and M.B.A. from Rutgers University School of Law – Camden and an undergraduate degree from Florida State University.