U.S. securities watchdog’s enforcement division lead Alex Oh has resigned due to potential conflicts of interest, according to Fox News.
Oh, who was the first woman of color to lead the organization, reportedly came to the decision to design over her previous work as a lawyer, which she announced on Wednesday.
“The unusual turn of events is a blow for new Securities and Exchange Commission (SEC) chair Gary Gensler, for whom Oh was among his first big hires, and underscores the challenges of filling top agency roles with Wall Street defense attorneys,” Fox News reported.
In her resignation letter to Gensler on Wednesday, shared with reporters, Oh said a ‘development’ relating to one of her previous cases would be ‘an unwelcome distraction to the important work of the Division.'”
According to Fox’s coverage of the resignation, it was Oh’s previous work defending Exxon Mobil Corp during the time she worked as a partner at Paul, Weiss, Rifkind, Wharton & Garrison
Fox News’ source for that information requested anonymity, however, they shared details that indicated that Oh’s conflict of interest came to light because of the SEC probe into Exxon Mobile over asset valuation.
Prior to her position in the Biden administration, Oh worked as part of the leadership of Paul, Weiss’ in anti-corruption during part of her 17 years at the firm.
U.S. District Judge Royce Lamberth brought up a question about her actions during a deposition in the Exxon case, which was just one of the “slew” of Fortune 100 companies Oh worked for during her time in the private sector.
The chairman of Paul, Weiss, Brad Karp, said that he could not comment on the still ongoing litigation. However, her said that “Alex is a person of the utmost integrity and a consummate professional.”
Oh is just one of a number of administration officials that conservatives have questioned in an administration bent on undoing the work of their predecessors.