SEC Names JPMorgan Veteran as COO and Formalizes Retail Fraud Working Group
On July 6 and 7, 2026, the SEC filled its COO vacancy with Paul Knight, a former SEC staffer who spent nearly 12 years at JPMorgan Chase, and formally established a Retail Fraud Working Group within its Division of Enforcement targeting offering frauds, pump-and-dump schemes, market manipulation, and adviser duty breaches. Trade press consistently describes the working group as a reinstatement of a prior initiative discontinued during the Gensler era, though the SEC's own press release uses the word 'forms' and provides no history of the earlier version. The new group's mandate overlaps with the existing Cyber and Emerging Technologies Unit on crypto-asset fraud targeting retail investors, and the SEC has not publicly specified how the two units will divide jurisdiction over such cases.