Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Regulation and Compliance > Federal Regulation > SEC

SEC Launches Office of Risk and Strategy Within Exam Unit

By Melanie Waddell

X
Your article was successfully shared with the contacts you provided.

The Securities and Exchange Commission announced Tuesday that it has created an Office of Risk and Strategy within its Office of Compliance Inspections and Examinations, and has appointed Peter Driscoll to head the new office under the title of chief risk and strategy officer.

The SEC announced the same day that Robert Fisher will replace Driscoll as OCIE’s managing executive. In his new role, Driscoll will manage the new office as well as the investment advisor/investment company exam staff based in Washington.

OCIE Director Marc Wyatt said in a statement that the Office of Risk and Strategy will lead the exam program’s “risk-based, data-driven and transparent approach to protecting investors.”

Driscoll added in the statement that he was “excited to advance our development of new tools and techniques that strengthen OCIE’s risk analysis, surveillance, and strategic abilities on behalf of investors.”

The SEC announced in early February that Jane Jarcho, national director of investment advisor exams, has been named OCIE’s deputy director, and that she continues to head advisor exams.

The appointments come as OCIE prepares to shift examiners from broker-dealer to advisor exams and is mulling a third-party audit rule for advisors.

Karen Barr, president and CEO of the Investment Adviser Association, told ThinkAdvisor in an email message that with Driscoll’s new role along with the new risk and strategy office, OCIE “appears to be advancing its efforts to more strategically and effectively deploy its resources, including through the strategic use of technology and data.”

With an office “dedicated to streamlining risk assessment and data analysis, we hope that OCIE will be able to continue to increase its oversight of investment advisors.”

Driscoll, who has held the role of OCIE’s managing executive since 2013, started at the SEC in 2001 as a staff attorney in the Division of Enforcement in the agency’s Chicago Regional Office. He joined OCIE in 2004 as a branch chief in the Investment Adviser/Investment Company program in the Chicago office and later served as the Chicago office’s ethics liaison officer and assistant regional director.  

Driscoll began his career as an auditor with Ernst & Young LLP and held several accounting positions in private industry. He has a bachelor’s and law degree from St. Louis University, and is a licensed certified public accountant in the state of Missouri and a member of the Missouri Bar.

Fisher came to the SEC in 2002 as an economic fellow in the Office of Economic Analysis, now the Division of Economic and Risk Analysis. He was named an assistant director in the Office of International Affairs (OIA) in 2005, with responsibility for the SEC’s technical assistance program for emerging markets. He became OIA’s deputy director in 2012 and later served as the office’s acting director. In 2014, Fisher joined OCIE as an associate director within its Office of the Director.

Fisher holds a Ph.D. and bachelor’s degree in economics from Duke University and a J.D. from Harvard Law School (magna cum laude).

— Check out SEC Charges Wells Fargo, Rhode Island With Fraud in Curt Schilling’s Failed Company on ThinkAdvisor.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.