SEC Names Andrew Bowden as Director of National Exam Program
The Securities and Exchange Commission today announced that Andrew J. Bowden has been named Director of the agency's Office of Compliance Inspections and Examinations (OCIE) and will lead its National Exam Program.
Mr. Bowden joined the SEC in November 2011 as the National Associate Director for OCIE's Investment Adviser/Investment Company Examination Program, and he was appointed Deputy Director of OCIE in September 2012. He will succeed Carlo di Florio, whose departure was announced today.
"Drew has shown true leadership overseeing our investment adviser/investment company examination program and serving as deputy in the office," said Mary Jo White, Chair of the SEC. "Drew also has been very engaged in strengthening employee engagement, training and development. During his time here, he has earned the trust and confidence of his colleagues, our regulatory partners, and the industry. His dedication, judgment, and leadership will serve him well as he takes on his new post leading an aggressive, effective examination program."
Mr. Bowden said, "I am grateful for this opportunity to continue to work with the talented and dedicated team in OCIE, Chairman White and the Commissioners, our colleagues across the agency, and our fellow regulators. I also want to commend Carlo for all he has done for investors and the SEC over the last three years."
The SEC's National Exam Program conducts inspections and examinations of SEC-registered investment advisers, investment companies, broker-dealers, self-regulatory organizations, clearing agencies, and transfer agents. OCIE has adopted a risk-focused examination program, hired industry experts, leveraged technology to increase efficiency, and launched a training program focused on quality and consistency. These initiatives have enabled OCIE to more effectively fulfill its mission to promote compliance with U.S. securities laws, prevent fraud, monitor risk, and inform SEC policy.
Before joining the SEC, Mr. Bowden worked in private law practice, chiefly on legal, regulatory, and compliance issues involving broker-dealer activities. He spent 17 years at Legg Mason in a variety of legal, compliance, and senior business roles related to Legg Mason's broker-dealer and investment management businesses and served on the Board of Governors and Executive Committee of the Investment Advisers Association.