The U.S. Securities and Exchange Commission (SEC) has appointed David Grim as its new director of the division of investment management.
The division is responsible for protecting investors, promoting informed investment decisions, as well as facilitating innovation in investment products and services through oversight and regulation of the nation’s asset management industry.
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Grim worked in the division for almost 20 years, after having joined SEC in September 1995 in the position of a staff attorney in the division’s office of investment company regulation.
He has been serving as the unit’s acting director since February, following the exit of ex-director Norm Champ.
In January 1998, Grim moved to the unit’s office of chief counsel in January 1998, and was appointed in the role of assistant chief counsel in September 2007.
He has named the division’s deputy director in January 2013, which made him responsible for managing all aspects of its disclosure review, rulemaking, guidance, as well as risk monitoring functions.
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By GlobalDataSEC chair Mary Jo White commented: "David is a committed public servant with a nearly 20-year tenure in the Division of Investment Management. I am confident that the Commission and the public will continue to benefit from his leadership and deep knowledge of the work of the division on behalf of investors."
