Norm Champ to depart SEC

Head of the agency's Division of Investment Management will leave before the end of the month
OCT 30, 2014
The head of the Securities and Exchange Commission's Division of Investment Management will depart before the end of the month, the agency announced Wednesday. Norm Champ, who took over as head of the division in 2012 when Eileen Rominger left, will become a visiting scholar at Harvard Law School for the spring semester and also lecture about investment management law. During his tenure, Mr. Champ and the division played an important role in developing rules that reformed money market funds and were instrumental in granting SEC approval of actively managed funds that combine the features of mutual funds and exchange-traded funds. In past appearances before industry groups, Mr. Champ stressed the division's efforts to increase transparency about areas of concern. He would cite the development of guidance updates, statements from staff that did not carry the weight of rules but gave investment companies and advisers a sense of the agency's opinions about regulatory topics. He also led the division's effort to increase the use of industry data to monitor risks to investors. Mr. Champ joined the SEC in 2010, serving as deputy director of the Office of Compliance Inspections and Examinations for two years and briefly working as the associate director of the New York regional office. Before coming to the SEC, Mr. Champ was general counsel for Chilton Investment Company, an adviser to private funds and managed accounts. The SEC has not yet announced his replacement.

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave