Finra Enforcement Chief Departing: Report

Susan Merrill, the head of enforcement at the Financial Industry Regulatory Authority, is stepping down, a report says.
By Joseph Woelfel ,

NEW YORK (

TheStreet

) -- Susan Merrill, the head of enforcement at the Financial Industry Regulatory Authority, is stepping down, the

Wall Street Journal

reports.

Merrill hasn't set a departure date from Finra, Wall Street's self-regulatory body, people familiar with the matter said, the

Journal

reports.

Merrill has a spotty record as enforcement chief, the Journal says. She helped merge the enforcement departments of the National Association of Securities Dealers and the

New York Stock Exchange

, and brought a number of auction-rate-securities cases against Wall Street firms. But she also failed to uncover Bernard Madoff's Ponzi scheme.

It's not known who will succeed Merrill, the

Journal

reports.

-- Reported by Joseph Woelfel in New York.

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