Driscoll to Depart SEC Exams Unit; Gensler Fills out Policy Team

The SEC announced that Peter B. Driscoll, the Director of the Division of Examinations, will depart the agency effective Aug. 14. Daniel Kahl, the Division's Deputy Director, will be named Acting Director upon Driscoll's departure. Kahl joined the SEC in 2001 and has served as a Deputy Director of the Division of Examinations since 2018 and as the Division's Chief Counsel since 2016. Prior to joining the Division of Examinations, he led the Division of Investment Management's Office of Investment Adviser Regulation. Mr. Driscoll led the Division of Examinations and its predecessor Office of Compliance Inspections and Examinations since January 2017. The SEC also announced the appointments of Corey Klemmer, Adam Large, Mika Morse, Sirimal Mukerjee, and Sai Rao to Chairman Gary Gensler's policy staff, led by the Policy Director Heather Slavkin Corzo. Sirimal R. Mukerjee is counsel to Chair Gensler on matters related to investment companies and investment advisers. Previously, he served as a Branch Chief in the Investment Adviser Regulation Office in the Division of Investment Management's Rulemaking Office, where he worked on the development of policy and rulemakings relating to investment advisers, private funds, and investment companies, among other positions. Meanwhile, the Wall Street Journal reported that President Biden plans to nominate congressional staffer Graham Steele as assistant Treasury secretary for financial institutions. The appointment would place Steele, a former Democratic chief counsel on the Senate Banking Committee and aide to Senator Sherrod Brown,  at “the center of efforts to refocus financial rules on issues such as climate change and racial equity,” the WSJ reported. Steele is currently director of the Corporations and Society Initiative at Stanford Graduate School of Business.