Karen Garnett, Associate Director of Division of Corporation Finance, to Leave Agency After 23 Years of Service

The Securities and Exchange Commission today announced that Karen Garnett, an Associate Director in the Division of Corporation Finance, will leave the agency in February.

As an Associate Director overseeing the Division’s disclosure review program, Ms. Garnett led the Division’s selective review of transactional and periodic filings by issuers in a range of industries, including real estate, commodities, insurance and life sciences.  As part of this work, she led the evaluation of a broad range of transactions that included novel governance structures and financial products including cryptocurrencies.  Ms. Garnett also guided the Division’s implementation of significant rule changes, including those related to loan-level asset disclosure and credit risk retention applicable to asset-backed issuers.  In addition, Ms. Garnett led the review of the Commission’s business and financial disclosure requirements in Regulation S-K, resulting in the issuance of a concept release by the Commission.

“Investors in our markets have been well served by Karen’s thoughtful approach to protecting investors and facilitating capital formation,” said Bill Hinman, Director of the Division of Corporation Finance.  “Her contributions, including her work to develop how our staff evaluates company disclosures, will have a lasting impact.”

Ms. Garnett said, “It has been an honor to serve with the dedicated staff in the Division of Corporation Finance and across the agency as we have worked together to protect investors and facilitate capital formation.  I am incredibly proud of what we have accomplished together.”

Prior to her role as Associate Director, Ms. Garnett served as the Assistant Director of the Division’s Office of Real Estate and Business Services.  She previously served as Special Counsel and Attorney Advisor in the Divisions of Corporation Finance and Investment Management.  Prior to joining the SEC, Ms. Garnett was an associate at the law firm of Wright, Lindsey & Jennings.  She earned her undergraduate degree from Dartmouth College and her law degree from the University of Texas.  In 2005, Ms. Garnett received the agency’s Byron Woodside Award in recognition of her contributions to the SEC’s full disclosure program, and in 2016, she received the Chair’s Award for Meritorious Impact in recognition of her leadership of the disclosure effectiveness initiative.