SEC Searching for New Director of Investment Management
The SEC has announced that Norm Champ, the current Director of Investment Management, is leaving the SEC later this month. Mr. Champ, who came from the private funds industry, deserves credit for such initiatives as money market reform and the identity theft red flags rule.
OUR TAKE: Mr. Champ’s replacement will likely reflect where the SEC is going during the next few years. Will Chair White select another senior official from the prosecutorial/enforcement world, an industry veteran, or another private funds pro such as Mr. Champ?