SEC Gensler appoints lead counsel of XRP lawsuit as Enforcement Counsel

The Securities and Exchange Commission has appointed Corey Frayer, Phil Havenstein, Jennifer Songer, and Jorge Tenreiro to Chair Gary Gensler’s executive staff.

Corey Frayer was appointed Senior Advisor on crypto policymaking, Phil Havenstein has become Operations Counsel, Jennifer Songer is now Investment Management Counsel, and Jorge G. Tenreiro was named Enforcement Counsel.

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Jorge G. Tenreiro gets a promotion

Jorge G. Tenreiro was promoted Enforcement Counsel, a role in which he will advise Chair Gensler on matters involving the Division of Enforcement, quite a prominent one as the SEC continues its regulation by enforcement practice.

He joined the SEC in 2013 as a staff attorney in the New York Regional Office and later served as Senior Trial Counsel. He previously served in a leadership role in the SEC’s Pride Alliance employee affinity group and sat on the SEC’s Diversity Council.

Prior to joining the SEC, he was an associate at Cleary Gottlieb Steen & Hamilton LLP and a law clerk to the Hon. Julio M. Fuentes of the U.S. Court of Appeals for the Third Circuit and the Hon. Allyne R. Ross of the U.S. District Court for the Eastern District of New York.

Jorge Tenreiro is notably the man in charge of the SEC litigation against Ripple and co-defendants Brad Garlinghouse and Chris Larsen.

The plaintiff has been under fire for its inconsistencies and has been found to frustrate Judge Sarah Netburn a few times, including in the 31 August hearing about the SEC deliberations on XRP, ETH, and BTC.

During the hearing, he tried not to answer directly to the Judge’s questions as they would go against the SEC’s narrative, namely the discussion over the objectiveness or subjectiveness of “recklessness”.

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SEC Gary Gensler makes four promotions

Corey Frayer was promoted to advise Chair Gensler on SEC policymaking and interagency work relating to the oversight of crypto assets.

Prior to joining the SEC, he served as Senior Professional Staff on the U.S. Senate Committee on Banking, Housing, and Urban Affairs for Chairman Sherrod Brown.

He spent a decade as a Senior Advisor working on issues ranging from consumer and investor protection to systemic risks and emerging financial technologies for U.S. Representative Maxine Waters on the House Financial Services Committee and for U.S. Representative Brad Miller of North Carolina.

Philipp Havenstein was named an advisor to Chair Gensler on matters related to agency administration, operations, and management.

He joined the SEC in 2014 as an Attorney-Adviser in the Office of Human Resources, where he advised senior management on personnel-related matters and conducted internal investigations.

Prior to joining the SEC, he was an Associate Legal Advisor at the U.S. Department of Homeland Security, U.S. Immigration and Customs Enforcement.

Jennifer Songer will be counseling Chair Gensler on matters related to investment companies and investment advisers.

She has worked as Branch Chief of the Private Funds Branch in the Division of Investment Management’s Rulemaking Office, where she focused on developing policy relating to private fund advisers and other investment advisers.

Prior to joining the SEC, Songer worked in the Washington D.C. office of K&L Gates LLP and the New York office of Seward & Kissel LLP.

“Corey, Phil, Jenny, and Jorge have exceptional experience,” said Chair Gensler. “I’ve already begun to rely on their valuable counsel on policy, enforcement, and agency operations, and I look forward to our continued work together to execute the SEC’s mission.”