Administrative Appointments Securities & Exchange Commission

News & Analysis as of

SEC Announces Senior Staff Changes

On November 12, the SEC named Marc Wyatt as the Director of the Office of Compliance Inspections and Examinations (OCIE) and the leader of the agency’s National Exam Program. When Andrew Bowden left the SEC in April 2015,...more

White House Announces Nominations for SEC Commissioner

On October 20, the White House announced two intended nominations for Daniel Gallagher’s replacement as SEC Commissioner, Hester Maria Pierce and Lisa M. Fairfax. Currently, Ms. Pierce is a Senior Research Fellow and Director...more

SEC Administrative Law Judges Ruled Unconstitutional

A recent decision from the U.S. District Court for the Southern District of New York concludes that the manner in which Administrative Law Judges (“ALJs”) of the U.S. Securities and Exchange Commission (“SEC”) are appointed...more

SEC Appoints New Head of Examination Program in Atlanta Regional Office

On September 29, the SEC named William Royer as the Atlanta Regional Office’s Associate Director of the examination program. Since June of this year, Royer has served as the examination program’s Acting Associate Director....more

SEC Commissioners Making a “Noisy Exit”

Securities and Exchange Commission members Daniel M. Gallagher and Luis A. Aguilar will soon leave the SEC, but neither is keeping quiet about the SEC’s treatment of chief compliance officers (CCOs). Gallagher recently...more

Having the Last Word on the Last Word: SEC Says Its ALJs are “Mere Employees”

In what will surely not be the last word on this continuing controversy, on September 3, 2015, a majority of the members of the Securities and Exchange Commission held that the appointment process for the Commission’s...more

Financial Regulatory Developments Focus - August 2015 #4

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

More on the CFPB’s administrative law judge job posting

We reported earlier this week that the CFPB had recently posted a job opening for an administrative law judge (ALJ) and that the government jobs website indicated that the position was closed. We saw this as suggesting that...more

Recent Investment Management Developments - June 2015

In This Issue: - SEC Proposes Changes to Reporting and Disclosure Obligations for Investment Companies and Advisers - SEC Charges Hedge Fund Executives and External Auditor for Improper Disclosure of Expense...more

District court says appointment of SEC administrative law judge was likely unconstitutional

Recently, in Hill v. Securities Exchange Commission, the United States District Court for the Northern District of Georgia preliminarily enjoined the SEC from conducting the administrative proceeding brought against Charles...more

FinCrimes Update - May 2015 Summary, Volume 2, Issue 5

FINCEN NAMES JAMES EL-HINDI AS NEW DEPUTY DIRECTOR - On May 21, FinCEN announced Jamal El-Hindi as its new Deputy Director. Since January 2015, El-Hindi has been serving as the agency’s acting Deputy Director, and...more

Investment Management Update: The Latest News and Developments on Funds, Regulations and Investing Trends for January 2015

In This Presentation: - Personnel Changes - Insider Trading - Pay to play prohibitions under fire - F Squared – Administrative proceeding (December 22, 2014) - Reliance Financial Advisors --...more

SEC Names New Chief Counsel in Trading and Markets

On February 11, the SEC named Heather Seidel as Chief Counsel of the Division of Trading and Markets, effective immediately. Seidel will oversee the Office of Chief Counsel, which provides legal and policy advice to the...more

Financial Regulatory Developments Focus - December 2014 #2

In this issue: - Bank Prudential Regulation & Regulatory Capital - Bank Structure - Derivatives - Financial Market Infrastructure - Financial Services - People - Events...more

Orrick's Financial Industry Week in Review

Bank of America and Merrill Lynch Settle RMBS Lawsuit with FDIC - On November 17, Bank of America and Merrill Lynch settled securities claims brought by the FDIC related to RMBS sold to United Western Bank. The FDIC,...more

SEC Appoints Marc Wyatt As Deputy Director Of National Exam Program

On October 20, the SEC appointed Marc Wyatt as the Deputy Director of the agency’s Office of Compliance and Inspection Examinations (OCIE). In September 2012, Wyatt joined the SEC as a senior specialized examiner with a...more

SEC Chairman Names Chief Counsel

On June 3, the SEC Chairman Mary Jo White appointed Robert E. Rice as Chief Counsel....more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - February 1, 2013


SEC Names Acting Enforcement Director

On January 31, the SEC announced that George Canellos will serve as Acting Director for the Division of Enforcement. Mr. Canellos currently is the Deputy Director of that division, and effective February 8, 2013, will fill...more

President Obama Re-nominates Richard Cordray For CFPB Director, Nominates Mary Jo White For SEC Chair

On January 24, President Obama announced his re-nomination of current CFPB Director Richard Cordray. Mr. Cordray has led the Bureau since January 2012 when President Obama used his recess appointment authority to install the...more

Federal Agencies Announces Numerous Appointments

SEC Names Office of Market Intelligence Chief. On January 22, the SEC announced that Vincente Martinez will serve as the head of the Office of Market Intelligence, a unit of the Enforcement Division that collects and...more

SEC Announces Departure Of Enforcement Director, Names New General Counsel And Chief Accountant

On January 9, the SEC announced that its Enforcement Director, Robert Khuzami, is leaving the agency. Mr. Khuzami was appointed to the position in February 2009. The SEC press release credits him with, among other things,...more

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