Makeover Time: Madoff SEC Husband's Redacted Bio

Thanks to some eagle-eyed commenters we were alerted to Mr. Shana Madoff’s bio, and (very handsome) picture, but when we checked it out this morning, it looked suspiciously different…

But there’s no greater blogging gift than caching.

Here’s the old version:

Eric Swanson
Senior Vice President, General Counsel
Eric Swanson was hired as general counsel in January 2008 and moved immediately into the role of working with the Securities and Exchange Commission as BATS seeks SEC approval of its exchange application. He is based in BATS’ New York City office.

Mr. Swanson has a significant history with the SEC, having served at the Commission from 1996-2006 and rising to the title of Assistant Director in the Office of Compliance Inspections and Examinations’ market oversight unit in Washington. His duties included supervising the Commission’s inspection program responsible for regulatory oversight of trading on the securities exchanges and ECNs.

“We’re excited to add Eric to our growing team and look forward to his contributions as we move towards Exchange status,” said Chief Executive Joe Ratterman, noting that Mr. Swenson will report directly to him. “With his strong background and knowledge of the SEC and market centres, Eric is the ideal individual to work with the Commission during this process.”

During his tenure at the SEC, Mr. Swesnon , supervised and conducted inspections and examinations that involved a wide range of issues including best execution, order handling, insider trading, market manipulation, and compliance with Regulation ATS. In addition, Mr. Swenson was responsible for the identification of regulatory risks and the development of parameters for surveillance and examination programs.

A frequent speaker at securities industry functions, Mr. Swanson was most recently chief counsel and vice president of regulatory strategy at Ameriprise Financial. He graduated from the University of Minnesota and earned his law degree at Hamline University School of Law in St. Paul, Minn. He and his family live in New York.

Here’s the new “minimalist” version”:

Eric Swanson
Senior Vice President, General Counsel
Eric Swanson was hired as general counsel in January 2008. Mr. Swanson leads the BATS legal team.

A few key things seem to be missing!

Never heard of BATS? Us neither but it’s the fourth largest U.S. stock exchange (though some places say third), after NASDAQ, the New York Stock Exchange, and NYSE Arca. It was an ECN until August when the SEC approved its transformation to a registered national securities exchange. Here’s a nice Newsweek article on the Kansas City-based firm.

Wonder if a certain Mr. Swanson, a former regulator whose “duties included supervising the Commission’s inspection program responsible for regulatory oversight of trading on the securities exchanges and ECNs” helped that along, in his tenure at the company which began a mere 8 months before BATS was granted the business-boosting status it was after?

Note that BATS is the first self-regulatory organisation approved since 2000.

FOR FULL MADOFF COVERAGE, CLICK BERNIE’S FACE >


See Also: A SLIDESHOW OF MADOFF’S VICTIMS HERE >

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