[ by Larry Goldfarb ] Thomas Butler was named the first Director of the SEC's new Office of Credit Ratings, which was created by the Dodd-Frank Act.  It's responsible for overseeing the 9 registered Nationally Recognized Statistical Rating Organizations (NRSROs).  Among the responsibilities of the agency is conducting an annual exam of each credit ratings company and issuing a public report. Mr. Butler will oversee a staff of approximately 25 lawyers, accountants, and examiners responsible for examining and monitoring the NRSROs.  Mr. Butler begins 6/18.  Prior to the creation of the Office of Credit Ratings, the NRSRO examinations required under Dodd-Frank have been conducted by the SEC’s Office of Compliance Inspections and Examinations, which issued the first public report regarding the annual examinations on 9/30/11. While the SEC doesn't specify where Mr. Butler worked prior to joining the SEC, it does not that he's worked for the following firms, gaining extensive knowledge about credit rating agencies along the way.   He spent 14 years at Morgan Stanley Smith Barney and its predecessor, including Citi Global Wealth Management, where he held senior executive positions for several business units.  Mr. Butler was a managing director and COO for the Investment Strategy, Investment Advisory, Global Investments, and Public Sector Group units.  Earlier in his career, Mr. Butler worked at UBS Securities LLC, Babcock & Brown Inc., and 2 major law firms.   [SEC PR 12-113, 6/15/12]