SEC Division of IM Director Norm Champ Delivers Remarks on Mutual Fund Regulation
In a speech to the 2013 Mutual Funds and Investment Management Conference, Norm Champ, Director of the SEC Division of Investment Management ("IM"), set out a number of priorities for IM. In particular, Mr. Champ described the following ongoing initiatives at the SEC:
- Establishing IM's new Risk and Examinations Group ("REG"), which is intended to conduct rigorous quantitative and qualitative financial analyses of the investment management industry, and strategically important investment advisers, funds and products;
- Conducting in-person meetings between IM staff and mutual fund directors with a view to better understanding the role of directors;
- Expanding the level of practical financial services experience in the IM staff;
- Obtaining and using input with regard to the mutual fund valuation process; and
- Improving the IM's approach to collecting and analyzing mutual fund data. In this regard, he noted that IM had a good deal of information about money market funds and about private funds, but not as much about other funds.
Click here to view speech in full (links externally to SEC website).