More On Legal & Compliancefrom The Advisor's Professional Library
- Agency and Principal Transactions In passing Section 206(3) of the Investment Advisers Act, Congress recognized that principal and agency transactions can be harmful to clients. Such transactions create the opportunity for RIAs to engage in self-dealing.
- Risk-Based Oversight of Investment Advisors Even if the SEC had a larger budget and more resources, it is doubtful that the Commission would have the resources to regularly examine all RIAs. Therefore, the SEC is likely to continue relying on risk-based oversight to fulfill its mission of protecting investors.
The Securities and Exchange Commission has named Diane Blizzard associate director for regulatory policy and investment adviser regulation in the Division of Investment Management, replacing Robert Plaze, who is now deputy director of the division.
Blizzard will supervise two offices that develop recommendations for rulemaking and other policy initiatives under the Investment Company Act and the Investment Advisers Act.
Blizzard has been a member of the Division of Investment Management staff for 12 years, most recently serving as managing executive. She has previously held several policy roles, including senior advisor to the director and head of the Office of Regulatory Policy, one of the division’s rulemaking offices she will now lead. Earlier in her career, she was counsel to an affiliate of the Investment Company Institute.
“Diane is an accomplished lawyer and a skilled manager and I look forward to her continued leadership in her new role,” said Eileen Rominger, director of the SEC’s Division of Investment Management, in a statement.
“This is a great opportunity to work with Eileen Rominger and the talented division staff on advancing Chairman Schapiro’s investor-focused regulatory agenda,” Blizzard said.
Blizzard holds a bachelor’s degree from Duke University and received her law degree from Georgetown University.