Lawrence West Named Associate Director of the Division of Enforcement

FOR IMMEDIATE RELEASE
2003-33

Washington, D.C., March 18, 2003 -- The Securities and Exchange Commission today announced the appointment of Lawrence A. West as associate director of the Division of Enforcement. West succeeds William R. Baker III, who left the Commission staff for private practice in November 2002.

"Larry has a proven track record of excellence on some of the Division's most complex and important cases, and brings a sharp intellect and tremendous leadership skills to every matter he tackles," said Stephen M. Cutler, Director of Enforcement. "His knowledge of the securities laws, tough negotiating skills, and commitment to the Commission's mission will continue to serve investors well."

As associate director, West will serve as a senior official in the Division of Enforcement and will assist in planning and directing the Commission's enforcement efforts.

West, 51, joined the Commission's staff in 1994 as a staff attorney in the Division of Enforcement. He became a branch chief in 1997, and an assistant director in 1999. During his tenure at the Commission, he has overseen numerous cases in a wide variety of areas, including actions involving financial fraud at WorldCom, Critical Path, Peregrine Systems and other public companies. He supervised the Commission's investigations into Ponzi schemes run by investment advisers David Mobley and Jay Goldinger, and was the lead investigator on the Commission's municipal securities yield-burning cases, which resulted in 21 securities firms paying a total of $195 million to resolve charges of illegal mark-ups on government securities.

West received the Commission's Stanley Sporkin Award in 2002, which recognizes those who have made "exceptionally tenacious and insightful contributions" to the enforcement of the securities laws. He is a graduate of Harvard College and Yale Law School.