Juan Marcel Marcelino to Leave District Administrator's Position in the SEC'S Boston District Office

FOR IMMEDIATE RELEASE
2003-148

Washington, D.C., Nov. 3, 2003 -- Juan Marcel Marcelino today announced his decision to leave his position as the District Administrator of the Securities and Exchange Commission's Boston District Office. Mr. Marcelino has been the District Administrator since 1993. During the past ten years, he was responsible for the administration of the agency's enforcement and examination programs in New England. Mr. Marcelino indicated that he had decided to step aside as the District Administrator, given the recent press coverage of certain matters involving the Boston Office, to minimize any further distractions for his staff as they continue the critical work of the office. He will be exploring a number of potential options over the next few months.

Mr. Marcelino joined the Commission staff in 1984 as a staff attorney in the Division of the Enforcement in Washington, D.C. He subsequently served as a branch chief and then as Assistant Director of the Bank Fraud Task Force in the Division. Prior to joining the Commission, Mr Marcelino was in private practice in the Virgin Islands concentrating on labor law and federal litigation. He received his BA from Brandeis University in 1978 and his JD from Catholic University in 1981. He received an LLM in Securities Regulation from Georgetown University Law Center in 1984. In 1990, Mr. Marcelino received the SEC's Equal Opportunity Award; in 1993, he was given the Stanley Sporkin Award for outstanding enforcement performance; and in 2001, he received the Commission's Distinguished Service Award. During his tenure as District Administrator, Mr Marcelino directed a number of high profile investigations that resulted in the filing of several notable civil and administrative enforcement proceedings.

In announcing his plans to leave his post as District Administrator, he said, "Working for the Commission as the District Administrator in Boston has been the most rewarding challenge of my legal career. I have been extremely fortunate to have worked with such talented and skilled colleagues in the District Office. I will always look back on my tenure as District Administrator with enormous personal and professional satisfaction."

SEC Director of Enforcement, Stephen Cutler, stated, "Juan Marcelino has been instrumental in the growth and success of our Boston District Office over the past ten years. Under his leadership, the District Office has established an effective presence in the New England area. I wish him well in his future endeavors."