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The SEC has named David Grim as acting director of the Division of Investment Management, officials say. He replaces Norm Chap, the division’s former director, who left the SEC at the end of January 2015.
Grim has been the division’s deputy director for the past two years where he has been responsible for overseeing all aspects of the division’s disclosure review, rulemaking, guidance, and risk monitoring functions, officials say.
“Dave has served with distinction for nearly 20 years in the Division of Investment Management,” says SEC Chair Mary Jo White, in a prepared statement. “The commission and investors will benefit tremendously from his extensive legal knowledge, deep roots in the work of the division, and his managerial expertise.”
Grim joined the SEC in September 1995 as a staff attorney in the division’s Office of Investment Company Regulation, officials say. In January 1998, he moved to the division’s Office of Chief Counsel and was named assistant chief counsel in September 2007.
The SEC’s Division of Investment Management is chartered to “protect investors, promote informed investment decisions, and facilitate innovation in investment products and services through oversight and regulation of the nation’s multi-trillion dollar asset management industry,” according to an SEC statement.
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