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UPDATE 1-Ex-SEC official Luparello joining Citadel Securities
April 4, 2017 / 5:45 PM / 6 months ago

UPDATE 1-Ex-SEC official Luparello joining Citadel Securities

(Adds background on Citadel and Luparello)

By John McCrank

April 4 (Reuters) - Stephen Luparello, a former top official at the U.S. Securities and Exchange Commission, will join Citadel Securities as general counsel in May, the firm said on Tuesday.

Luparello, 58, stepped down in January as head of the SEC’s Trading and Markets division, which oversees exchanges and brokerages.

Citadel Securities, the trading arm of Citadel LLC, which also runs a hedge fund, is a top global market maker for stocks, fixed income, options, exchange-traded funds and foreign exchange.

Luparello will manage all legal matters related to Citadel Securities and will report to Chief Legal Officer Shawn Fagan, a spokesman for the firm said.

Luparello will join several other former regulatory officials hired by Citadel in the past year.

In September the Chicago-based firm hired Gregg Berman, who had been one of the SEC’s lead investigators on the causes of the 2010 flash crash.

In June, Citadel hired Glen Nixon, who had headed a platform called Midas that the SEC uses to monitor the markets. The same month, it hired John Malitzis from Wall Street watchdog the Financial Industry Regulatory Authority, where he was executive vice president for market regulation. Citadel also hired another former senior FINRA regulator, Nick Maslavets, who had headed a surveillance unit at that agency.

Luparello was previously a partner at law firm WilmerHale. Prior to that, he spent 16 years at FINRA and its predecessor. (Reporting by John McCrank in New York; Editing by Chizu Nomiyama and Dan Grebler)

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