SEC Shake-up continues

Shakeup at the SEC continues

Last month heralded more changes at the Securities and Exchange Commission. On December 17, the SEC Commissioners unanimously supported changing the name of the Office of Compliance Inspections and Examinations (OCIE) to the “Division of Examinations”. In a statement released to announce the change, the commissioners explained it would “better reflect these important contributions and its overall role at the SEC”.

A week later, on December 22, the SEC announced that Charles Koretke has been named Managing Executive of the Division of Examinations. In this role, Mr Koretke will manage and lead Examinations’ business operations in the areas of human capital, examiner training and development, budget formulation and execution, planning and executing information technology initiatives, and the provision of analytical services that support examinations. Mr Koretke has been serving as Examinations’ Acting Managing Executive since October 2019.

On the same day, the SEC announced Dalia Blass, Director of the Division of Investment Management, will leave the SEC in January after leading the Division since September 2017. Under her leadership, the Division finalized more than 70 regulatory initiatives affecting investment companies and investment advisers.

Later in December, President Trump designated Elad L. Roisman as Acting Chairman of the SEC. (Previous Chairman, Jay Clayton, announced the conclusion to his tenure in November). Mr Roisman previously served as a Commissioner of the SEC.

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