SEC headquarters in Washington. (Photo: AP)

The Securities and Exchange Commission has named Peter Driscoll director of the agency’s Office of Compliance Inspections and Examinations.

He’s been serving as OCIE’s acting director since January, when former OCIE head Marc Wyatt departed.

OCIE directs the agency’s National Examination Program, which uses a risk-based approach to examine investment advisors and broker-dealers.     

“Pete has been an exceptional leader of the National Examination Program since taking over as acting director of OCIE, including advancing the use of technology to make the program more effective,” said SEC Chairman Jay Clayton, in a statement. “With over 15 years of experience at the SEC as an attorney, examiner, and manager, I am confident that Pete and OCIE’s dedicated staff will continue to advance the interests of investors across the country.” 

Driscoll said in March that “Gone are the days of a long, full-scope” exam. “We aren’t in there for a very long time” because examiners take more “targeted, shorter, deep dives into high-risk areas that are published in our priorities … to be more effective and to get our coverage up.” 

Driscoll was named as OCIE’s first chief risk and strategy officer in March 2016 after previously serving as OCIE’s managing executive from February 2013 through February 2016. 

He first joined the commission as a summer legal intern in the Chicago Regional Office in 2000, and rejoined the SEC in 2001 as a staff attorney in the Division of Enforcement. He was later a Branch Chief and Assistant Regional Director in OCIE’s Investment Adviser and Investment Company examination program. 

Driscoll began his career with Ernst and Young LLP and held several accounting positions in private industry. He earned a B.S. in accounting as well as a J.D. from St. Louis University. He is licensed as a certified public accountant and is a member of the Missouri Bar Association.