Norm Champ Delivers Speech on Operation of the Division of Investment Management, Disclosure Issues

In a speech at the 2013 Insured Retirement Institute Government, Legal Regulatory Conference, SEC Director of Investment Management Norm Champ discussed (a) the Division of Investment Management's new Risk and Examinations Office ("REO"), (b) the SEC's internal communications and (c) issuer's disclosures to investors, particularly focusing on prospectus disclosure for insurance products. According to Director Champ, the Risk and Examinations Office (i) maintains an industry monitoring program focusing on financial analysis of the investment management industry, including monitoring various regulatory reports (e.g., Form ADV); and (ii) conducts an examination management program focusing on visits with fund complexes.

Champ said that the SEC has also focused on its external communications, including the management of various SEC websites.

Finally, Champ discussed disclosure issues, particularly in the the context of prospectuses for variable annuity prospectuses.

Click here to view speech in full (links externally to SEC website).