The 48-year-old Grewal will be joining the SEC as director of enforcement, heading a unit that polices markets.
"He has the ideal combination of experience, values, and leadership ability to helm the enforcement division," SEC Chair Gary Gensler said in a statement. "I look forward to working closely with him to protect investors and root out wrongdoing in our markets."
Grewal has served as Gov. Phil Murphy's attorney general for his entire first term. He was the country's first Sikh attorney general. Before that, he was Bergen County prosecutor and an assistant U.S. attorney.
He is the first major administration official to leave ahead of the general election in November.
Grewal repeatedly sued the Trump administration as New Jersey attorney general.
He has also targeted cryptocurrency fraud and led the largest known prosecution of a data breach.
"Through his efforts standing up to the Trump administration's attacks on New Jersey and our diverse communities, instituting historic reforms in policing, and leading the fight against gun violence, Attorney General Grewal has been an invaluable member of our administration and a dedicated public servant to the residents of New Jersey," Murphy said. "Though we'll miss his leadership, I know he's the right person to protect investors all across the nation, and I congratulate SEC Chair Gensler for this outstanding selection."
ALSO READ | New Jersey town cancels July 4th fireworks over crowded beach party
* Get Eyewitness News Delivered
* More New Jersey news
* Send us a news tip
* Download the abc7NY app for breaking news alerts
* Follow us on YouTube
Submit a News Tip