The Securities and Exchange Commission’s Enforcement Director Gurbir S. Grewal is leaving the agency on Oct. 11, according to a Wednesday announcement.

Grewal led the SEC’s Division of Enforcement for the last three years. Under him, the SEC pursued over 2,400 enforcement matters resulting in orders for more than $20 billion in disgorgement, prejudgment interest, and civil penalties.

“He has led a Division that has acted without fear or favor, following the facts and the law wherever they may lead. I greatly enjoyed working with him and wish him well,” SEC Chair, Gary Gensler said.

Sanjay Wadhwa, the Division’s Deputy Director, has been appointed to take up the role of Acting Director as Grewal leaves.

This is a developing story