SEC's markets chief steps down

Erik Sirri, director of the division of trading and markets at the US Securities and Exchange Commission, will resign at the end of this month.

Sirri joined the SEC in September 2006; he was previously a professor of finance at Babson College in Wellesley, Massachusetts. The SEC said he planned to return to academic life, but has not named a replacement.

He was in charge of bringing credit rating agencies and credit default swap counterparties under the commission's oversight, both of which were reactions to the current financial crisis.

See also: Rethinking CDSs
SEC names new market regulation chief