SEC Chairman Mary Jo White testified in front of the House Financial Services Committee yesterday. In her testimony, the Chairman provided a summary of the agency’s current activities. With respect to the Division of Investment Management, she mentioned the staff’s current work on updating valuation guidance available to funds and their boards of directors. In addition she discussed the recently established Risk and Exam Office (REO) within the Division that is dedicated to risk analysis and examination of funds and investment advisers. Chairman White stated that the work of the REO is expected to inform the division’s regulatory initiatives. In addition, the REO is expect to improve the staff’s analytical capacity as they have the capabilities to conduct “rigorous quantitative and qualitative financial analysis of the investment management industry.” A webcast of the hearing and Chairman White’s full testimony is available here.