SEC Names Secretary and First Ombudsman

In separate releases, the SEC announced that Brent J. Fields has been appointed SEC Secretary, and Tracey L. McNeil has been selected as the first ombudsman for the SEC.

Mr. Fields is an 18-year SEC veteran, and will oversee the agency's administrative functions. Ms. McNeil will begin her new post on September 22, 2014, and will report to the head of the SEC's Office of the Investor Advocate.

The ombudsman will act as a liaison in resolving problems that retail investors may have with the SEC or SROs, and will establish safeguards to maintain the confidentiality of communications with investors.

See: SEC Names Brent Fields as Secretary; SEC Names Tracey McNeil as Ombudsman.