The deputy director of the U.S. SEC's enforcement division will leave at the end of this month, and the Biden administration has not yet appointed a new enforcement director

According to a press release from the U.S. Securities and Exchange Commission (SEC), on January 13, Marc P. Berger, the current deputy director of the SEC’s Enforcement Division, will leave the agency by the end of this month. Berger was appointed deputy director of the SEC’s Enforcement Division in August 2020. He was appointed acting director of the division after Stephanie Avakian left the SEC last December.

Although Berger's peak period was short-lived, during his tenure he led the U.S. Securities and Exchange Commission (SEC) in launching a $1.3 billion lawsuit against Ripple Labs and its founder.

The lawsuit, disclosed toward the end of Avakian’s term, alleges that XRP sold tokens to U.S. investors without being registered. The U.S. Securities and Exchange Commission considers XRP a security.

But according to the SEC, Ripple's founders and executives sold the XRP given to them by the company for profit. The SEC also accused Ripple of paying companies that use XRP to support the price of XRP.

According to previous reports by Lvdong, on January 8, Ripple CEO Brad Garlinghouse tweeted that Ripple is trying to communicate with the U.S. Securities and Exchange Commission (SEC) regarding the lawsuit against Ripple in the hope of a peaceful resolution.

Things are changing at the Securities and Exchange Commission as the federal government transitions from the Trump administration to the Biden administration on January 20. President-elect Joe Biden is expected to appoint former Commodity and Futures Trading Commission Chairman Gary Gensler as SEC chairman. The SEC has yet to appoint a new enforcement chief.