During her first day as the new chairman of the SEC, Elisse Walter appointed two acting directors, one to the Division of Corporation Finance and the other to Trading and Markets.
Lona Nallengara will be the acting director of Corporation Finance, replacing Meredith Cross when she leaves the SEC to return to the private sector at year-end. John Ramsay will become acting director of Trading and Markets, replacing Robert Cook, who announced that he plans to step down after a short transition period.
Both Cross and Cook announced their planned departures the week of Dec. 3.
Nallengara has served as deputy director for legal and regulatory policy of the division since March 2011 and has been responsible for overseeing the Division’s offices of Chief Counsel, Enforcement Liaison, International Corporate Finance, Mergers and Acquisitions and Small Business Policy.
What Your Peers Are Reading
Nallengara is also credited with leading a series of complex rulemakings required by the Dodd-Frank Act and the division’s implementation of the Jumpstart Our Business Startups Act.
“Lona understands that our financial system is premised on investors getting the information they need to make smart decisions and on businesses having access to new capital,” Walter said in a statement. “Lona has extensive experience working within the agency and with companies seeking to raise capital. He appreciates the impact that our rules have not only on the lives of everyday investors, but also on the financial system as a whole.”