SEC Division of Investment Managment Director is Resigning January 25, 2015

January 22, 2015

Investment Management Director to Leave the SEC

Norm Champ, the Director of the SEC’s Division of Investment Management is resigning at the end of January. Champ became the Director in 2012 when he replaced Eileen Rominger. Director Champ will become a visiting scholar at Harvard Law School for the spring semester and also lecture about investment management law. Two key regulatory events that occurred during his tenure were money market fund regulatory reform and the SEC’s approval of actively managed ETFs. As Director of the Division of Investment Management, Mr. Champ led a restructuring of the Division that provided staff a broader range of development opportunities while increasing staff depth.

The SEC in a press release stated that key initiatives in the Division of Investment Management during his tenure included:   • better leveraging data collected by the agency by recruiting industry experts and quantitative analysts to the SEC, including specialists in data analytics, risk management and trade analysis; • creating the Risk and Examination Office in the Division of Investment Management to use data collected from the asset management industry to monitor risks in the industry, firms, and products using the results to inform policy at the SEC; • creating the Senior Level Engagement Program under which senior leadership of the Division meets with senior management and Boards of Directors of strategically important asset management firms to improve the Commission’s awareness of emerging issues in the industry and to engage in direct dialogue about market developments; and • Instituting of regular “IM Guidance Updates” to make staff views on investment management issues transparent to stakeholders in the investing public, industry and the regulatory community.

Click here to access the SEC’s press release.


Investment Advisers, Investment Companies