From 2017 to 2020, Steven Peikin served as Co‑Director of the SEC’s Division of Enforcement (Enforcement), where he oversaw all aspects of the SEC’s national enforcement program. Among other duties, Peikin was responsible for executing the Commission’s enforcement priorities; overseeing its thousands of investigations and hundreds of litigations; responding to complex cyber threats; developing a comprehensive enforcement approach to initial coin offerings and other digital assets; and protecting the long-term interests of retail investors. He also coordinated SEC enforcement activities with the DOJ, the CFTC and numerous foreign securities regulators around the world. The Hedge Fund Law Report recently spoke to Peikin in connection with his return to Sullivan & Cromwell. In this first article in our two‑part series, Peikin discusses his new position; his experience at the SEC; and the relationship between Enforcement and the SEC’s Division of Examinations – formerly the Office of Compliance Inspections and Examinations, or OCIE. In the second article, Peikin talks about Enforcement’s annual report, the whistleblower program, self-reporting, Enforcement’s use of technology, CCO liability, private funds and the pandemic. For our coverage of Peikin while he was at the SEC, see “SEC Enforcement Co‑Director Reviews Division Performance” (Oct. 10, 2019); and “What Remedies and Relief Can Fund Managers Expect in SEC Enforcement Actions?” (Jan. 10, 2019).