SEC’s Rominger, Director of Investment Management, to Retire in July

Rominger has been instrumental in implementing Dodd-Frank mandates

More On Legal & Compliance

from The Advisor's Professional Library
  • The Few and the Proud: Chief Compliance Officers CCOs make significant contributions to success of an RIA, designing and implementing compliance programs that prevent, detect and correct securities law violations.  When major compliance problems occur at firms, CCOs will likely receive regulatory consequences.    
  • The Custody Rule and its Ramifications When an RIA takes custody of a client’s funds or securities, risk to that individual increases dramatically. Rule 206(4)-2 under the Investment Advisers Act (better known as the Custody Rule), was passed to protect clients from unscrupulous investors.

The Securities and Exchange Commission (SEC) announced Friday that Eileen Rominger, director of the Division of Investment Management, will be retiring in July.

Eileen Rominger, Director, SEC Office of Investment ManagementDuring Rominger’s tenure, the SEC says, the division has been instrumental in implementing the Dodd-Frank Act’s mandates regarding advisors to hedge funds and other private funds.

“Eileen understood the importance of a fair and efficient investment management industry to the well-being of investors everywhere. Her practical insights and steady leadership served investors well,” said SEC Chairwoman Mary Schapiro, in a statement.  

Rominger said in the same statement that “It has been a privilege to work with the talented and dedicated staff of the SEC in its mission of protecting investors.”

In the 30 years before Rominger arrived at the SEC, she worked as a portfolio manager and a leader of portfolio management teams, serving investors and being held accountable to mutual fund boards of directors in those roles. 

Until 2010, Rominger worked at Goldman Sachs Asset Management for 11 years, serving most recently as the firm’s global chief investment officer. She previously worked for 18 years at Oppenheimer Capital, where she was a portfolio manager, managing director, and a member of the Executive Committee.

Rominger received a BA in English from Fairfield University and an MBA in finance from the Wharton School of Business at the University of Pennsylvania.

Reprints Discuss this story
This is where the comments go.