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SEC Appoints Director for Risk Assessment Office, Announces Hedge Fund Meeting

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NEW YORK (–The Securities and Exchange Commission named Charles Fishkin director of its Office of Risk Assessment, a new unit that has been mentioned in connection with certain risks associated with mutual funds and hedge funds, including fraud and market timing of mutual fund shares.

Mr. Fishkin will manage SEC’s overall risk assessment program, coordinate risk assessment across the agency and report directly to Chairman William Donaldson.

Mr. Fishkin’s most recent job was vice president of firm-wide risk at Fidelity Investments, Boston. He also serves on the board of directors of the International Association of Financial Engineers, a group with many members from the hedge fund industry.

He helped found the IAFE operational risk committee and worked on the organization’s recent white paper on valuation (see ).

The Commission also announced it will hold an open meeting July 14 to consider whether to propose a new rule, 203(b)(3)-2 under the Investment Advisers Act of 1940.

That rule, if accepted, will require hedge fund managers to register with the SEC–a possibility that has been under discussion for more than a year (see ).

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Contact Robert F. Keane with questions or comments at:

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