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U.S. Securities and Exchange Commission

Larry Bergmann, Senior Associate Director in the Division of Market Regulation, to Retire from SEC


Washington, D.C., Dec. 30, 2005 — Larry E. Bergmann, Senior Associate Director in the Securities and Exchange Commission’s Division of Market Regulation, announced that he will retire from the SEC in January. Bergmann will join the law firm of Willkie Farr & Gallagher LLP in its Washington office.

SEC Commissioner Annette Nazareth, until recently the Director of the Division of Market Regulation, said, “Larry is the consummate securities lawyer and a very gifted policymaker. For over a quarter of a century he has contributed immeasurably to the SEC's efforts on behalf of the investing public. Larry's keen insights concerning a broad range of securities markets issues were reflected in the large body of work he produced throughout his years at the SEC. He will be sadly missed.”

Bergmann said, “It has been my privilege to work for the Securities and Exchange Commission with the best and the brightest in government for 30 years. Our Market Regulation program has helped to maintain fair, honest, and efficient securities markets for investors. I am proud to have contributed to the critical daily work of the staff and to many of the SEC’s major initiatives, including Regulation M, Regulation AC, Regulation SHO, and the recent interpretation of Section 28(e) of the Securities Exchange Act of 1934 regarding client commission practices. The level of discourse and dedication throughout the Commission devoted to the public interest is truly remarkable.”

Bergmann joined the Commission in 1975 as a staff attorney in the Northeast Regional Office. He transferred to the Division of Enforcement in Washington in 1978. In 1984, he became Assistant Director for Trading Practices in the Division of Market Regulation, and in 1988 became an Associate Director in that Division. As Senior Associate Director, his responsibilities have included administering the SEC’s trading practices rules, rules applying to short sales and research analysts, and “soft dollar” interpretations. He also has supervised the Commission’s oversight program for clearing agencies and transfer agents, and the Division of Market Regulation’s Enforcement Liaison Office. He has participated on a variety of task forces within the SEC, such as co-chair of the task force on soft dollars and the task force to re-write the SEC’s rules of administrative practice. In his career of increasingly diverse and substantial responsibilities, Bergmann has received numerous awards, including the Commission’s highest, the Distinguished Service Award, and the Presidential Rank Meritorious Service Award.

Bergmann also was active in the Commission’s international program. For example, he represented the Commission on Standing Committee 2 (Secondary Markets) of the International Organization of Securities Commissions. In the summer of 2005, he was invited to participate in the International Monetary Fund’s mission to assess the financial infrastructure of Spain. Over the years, Bergmann has taught securities courses at American University’s Washington College of Law, the University of Maryland School of Business, and the University of Pennsylvania’s Wharton School. Bergmann received his law degree from Boston College Law School, where he was an editor of the law review, and his undergraduate degree from the Massachusetts Institute of Technology.



Modified: 12/30/2005