[ by Howard Haykin ]

The SEC on Thursday named Andrew Bowden as OCIE Director - agency's Office of Compliance Inspections and Examinations, which conducts the National Exam Program.  He will succeed Carlo di Florio, whose departure was announced today.   [See C-I WHOS News posting "FINRA's New EVP Picked From SEC Office Pool."]

Mr. Bowden joined the SEC in November 2011 as the National Associate Director for OCIE's Investment Adviser/Investment Company Examination Program.  In September 2012, he was appointed Deputy Director for OCIE.

The SEC's National Exam Program conducts inspections and examinations of SEC-RIAs, RICs, BDs, SROs, Clearing Agencies, and Transfer Agents.  OCIE which runs the National Exam Program, has employed various initiatives to enable OCIE to more effectively fulfill its mission, including the following:

• use a risk-focused examination program,
• employ industry experts,
• leverage technology to increase efficiency,
• launch training programs focused on quality and consistency.

SEC Chairman Mary Jo White, had the following sentiments for the SEC's newly-designated OCIE Director:  "Drew has shown true leadership overseeing our investment adviser/investment company examination program and serving as deputy in the office.  Drew also has been very engaged in strengthening employee engagement, training and development. During his time here, he has earned the trust and confidence of his colleagues, our regulatory partners, and the industry. His dedication, judgment, and leadership will serve him well as he takes on his new post leading an aggressive, effective examination program."

Prior to joining the SEC in 2011, Mr. Bowden ...  worked in private law practice, chiefly on legal, regulatory, and compliance issues involving broker-dealer activities.  He spent 17 years at Legg Mason in a variety of legal, compliance, and senior business roles related to the firm's affiliated broker-dealer and investment management businesses, and served on the Investment Advisers Association (IAA) Board of Governors and its Executive Committee.

For further details, go to:   [ SEC PR 13-81, 5/2/13 ].