SEC Chief of Staff Lona Nallengara to Leave Agency

The Securities and Exchange Commission today announced that SEC Chief of Staff Lona Nallengara will be leaving the agency at the end of June.

SEC Chair Mary Jo White named Mr. Nallengara as chief of staff in May 2013.  He is the lead advisor to the Chair on all issues involving the SEC, including policy development, rulemaking, strategy, and management of the agency.  He also serves as the SEC deputy to the Financial Stability Oversight Council and is the primary SEC liaison with other financial regulators.

“Lona is in a league by himself,” said SEC Chair Mary Jo White.  “He is a trusted advisor who brings strong leadership, incredible intellect and a tremendous work ethic that is beyond compare.  He is a true public servant who cares deeply for this institution, its mission and for all those who work here.  Working closely with Lona has been a pleasure and privilege and his expertise, sound judgment, compassionate leadership and good humor have been invaluable to me.  I am deeply grateful for all he has done for me and the agency.”

Mr. Nallengara added, “It has been an incredible honor and privilege to serve Chair White and to work alongside the talented SEC staff whose dedication and commitment to protecting investors and strengthening our markets is truly inspiring.  My time at the Commission has been a highlight of my career and I will be forever grateful for this opportunity.”

During Mr. Nallengara’s time working with Chair White, the agency advanced a broad policy agenda, completing numerous rulemakings ranging from major reforms addressing money market funds, asset-backed securities markets, credit rating agency operations, security-based swaps, municipal advisors and proprietary trading activities to significant capital formation initiatives, such as lifting the ban on general solicitation and Regulation A reform, and strengthened its enforcement and examination programs.

Mr. Nallengara served in the Division of Corporation Finance as the acting director from December 2012 to June 2013, and the division’s deputy director for legal and regulatory policy from March 2011 to December 2012.  During his time in the division, he had responsibility for its activities and operations, including implementation of the Dodd-Frank and JOBS Acts and other rulemaking, interpretive guidance, and the disclosure program.

Prior to joining the SEC in 2011, Mr. Nallengara was a partner at Shearman & Sterling LLP in New York.  He advised public companies and financial institutions on a wide range of capital raising activities, corporate governance, public reporting and mergers and acquisitions.  In 1996, Mr. Nallengara began his law career at Osler, Hoskin & Harcourt LLP in Toronto, where he practiced in the corporate group. 

Mr. Nallengara earned his law degree in 1996 from Osgoode Hall Law School in Toronto and his undergraduate degree in political science in 1993 from the University of Western Ontario in London, Canada.