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Stories of Interest
- Bill Cosby Found Guilty of Sexual Assault
- Credit Suisse Fully Compliant on Sanctions: CEO
- Ex-UBS Metals Trader Beats Spoofing Conspiracy Charge
- Investment Advisor, WCAS Management Corp, To Pay Nearly $800K Over Conflicts of Interest
- Altaba, fka Yahoo!, to Pay $35Mn for Failing to Disclose Massive Cybersecurity Breach - SEC
- SEC Formerly Bars Martin Shkreli from Industry
- HF Billionaire Steve Cohen Buying Into Fintech Start-Ups
- Deutsche Bank Is Weighing Massive Cuts in Its U.S. Cash Equities Unit
- Richard Jenrette, Co-Founder of DLJ Investment Bank, Dies at 89
- Goldman Sachs Makes First Hire in Cryptocurrency Markets Unit
- Special FINRA Election to Fill Large Firm Governor Vacancy
- Chicago-Based Investment Adviser Sentenced to 151 Months in Prison - SEC
- Dun & Bradstreet Hit With FCPA Violations - SEC
- SEC Charges Additional Defendant in Fraudulent ICO Scheme
- Warren Buffett Simply Blew it on Wells Fargo Stock: Dick Bove (Video)
- Barclays and Deutsche Bank to Lag U.S. Trading Peers
- NY AG Schneiderman Seeks to Close Loophole That Could Let Trump Pardons Block State Charges
- 'Fearless Girl' is Moving to NYSE After Year Staring Down 'Charging Bull'
- What's In Your Wallet - American Express Shares Soar After Earnings Release
- Deutsche Bank's Executive Departures Continue Following Change in CEO
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NEWSLETTERS & ALERTS
Former SEC Director Norm Champ Chronicles Time with the SEC
Norm Champ is a partner with Kirkland & Ellis. He joined the law firm in 2016 from the SEC, where he had been Director of the Division of Investment Management. Prior to heading Investment Management, Mr. Champ served as Deputy Director of OCIE (Office of Compliance, Inspections and Examinations) and Associate Regional Director for Examinations in the SEC’s New York Office, [See fuller bio on NormChamp.com]
And Mr. Champ is the author of Going Public: My Adventures Inside the SEC and How to Prevent the Next Devastating Crisis – a chronicle of his 5 years at the SEC and how they shed light on the regulatory process and government policy-making.
Upon joining the SEC in 2010, Mr. Champ observed that the agency “wasn’t a typically dysfunctional bureaucracy” that had broken parts in need of fixing. Instead, “there were parts of it that had never been built.” He explains by elaborating on the Ponzi schemes perpetrated by Bernie Madoff and Allen Stanford. How, for example, could both schemes have lasted as long as they did without being detected by SEC examiners? Mr. Camp attributes that, in part, to the Commission’s failure to cultivate examiner expertise and encourage follow-through. The SEC was a divided operation, where examiners worked separate and apart from enforcement, and where the culture rewarded passivity and fostered petty disfunction.
Gerald Russello, a former SEC supervisor and currently a Sidley Austin law partner, provides a book review in the WSJournal.