Office of International Affairs Director Paul A. Leder to Leave SEC

The Securities and Exchange Commission today announced that Paul A. Leder, Director of the Office of International Affairs (OIA), will leave the agency in June. Mr. Leder rejoined the agency as OIA Director in February 2014. OIA advises the Commission on cross-border enforcement and regulatory matters and coordinates the SEC's involvement with regulatory authorities outside the United States.

"Today's capital markets are global and the SEC must engage on a wide range of international issues affecting U.S. markets and our investors," said SEC Chairman Jay Clayton.  "For the past four years, Paul has led, with distinction, the SEC's engagement with domestic and foreign regulators to address consequential cross-border challenges, always with an eye on the interests of our Main Street investors."  

"When I joined OIA just after it was created, cross-border collaboration on enforcement, supervisory and regulatory issues was the exception," said Mr. Leder. "Today, the agency routinely addresses important international issues and the number of cross-border matters continues to grow. It has been an honor to work alongside the incredibly talented staff of OIA as we partner with other offices and divisions to tackle substantive issues of importance to U.S. investors and markets. I want to thank Chairman Clayton and the other Commissioners for their leadership and support."

Mr. Leder's broad portfolio has included addressing potential financial stability risks associated with the asset management industry in discussions at the Financial Stability Board and the International Organization of Securities Commissions (IOSCO); negotiating with foreign authorities to address the potential effects of legal and regulatory changes on U.S. markets and investors (e.g., with European regulators on MiFID II and MiFIR);and playing an integral role in the development of a new platform – the IOSCO ICO Network – to assist the SEC and its counterparts as they address the growth of Initial Coin Offerings (ICOs) and resulting regulatory and enforcement challenges. In the area of enforcement cooperation, Mr. Leder oversaw matters in which the SEC requested assistance from foreign counterparts on a variety of investigations, including insider trading and violations of the Foreign Corrupt Practices Act. He also participated in OECD Anti-Bribery Working Group missions to advance compliance with international anti-corruption commitments.  

Prior to his return to the SEC, Mr. Leder was a partner at Richards Kibbe & Orbe LLP. Previous to that, Mr. Leder spent more than a decade at the SEC, beginning as a trial attorney in the Division of Enforcement in 1987. Soon after OIA was established in 1989, Mr. Leder joined its initial leadership team, first serving as assistant director and later as deputy director. From 1997 to 1999, he also served as senior adviser for international issues to Chairman Arthur Levitt. He began his legal career as a trial lawyer at the Public Defender Service for the District of Columbia.

Mr. Leder earned his bachelor's degree at the University of Michigan and his law degree from the University of Michigan Law School.