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IM Director Discusses Division’s Priorities and Initiatives

At a recent speech, Norm Champ, the Director of the SEC Division of Investment Management, discussed the Division’s priorities and initiatives.  He announced the recent creation of the Risk and Examination Group (REG) which will “conduct rigorous quantitative and qualitative financial analyses of the investment management industry, including detailed analyses of strategically important investment advisers and investment companies.”  REG is already making onsite visits to “select strategically important investment management firms” to better understand risk management policies.

Mr. Champ also discussed how he is taking a “fresh look” at policy initiatives within the Division.  He has asked the staff to prioritize policy initiatives based on four factors: (1) the risk to be mitigated or problem to be solved; (2) the urgency of the initiative; (3) the potential impact of the initiative on investors, registrants, capital formation, efficient markets and the SEC’s and Division’s operational efficiency; and (4) the resources associated with the policy initiative.