Statement on Departure of Commissioner Allison Herren Lee

We want to thank Allison Herren Lee for her tireless work and commitment to the Commission and its mission. Her years of public service have been marked by her humility, thoughtfulness, and dedication to investors and our markets. We have been fortunate to have her as a colleague.

Commissioner Lee joined the Commission in 2005 as a staff attorney in the Enforcement Division in the Denver Regional Office, after successful careers in the energy industry and as a small business owner, prior to attending law school. As a staff attorney she brought important actions vindicating the rights of investors, including noteworthy resolutions against those who committed fraud in the sale of residential mortgage backed securities. Prior to becoming a Commissioner, she served as counsel to Commissioner Kara Stein. Throughout her tenure as Commissioner and her service as Acting Chair, she has advanced the interests of investors, and our markets. She has emphasized the need for fulsome and complete disclosures, so that investors have the information they need in choosing where to invest. Commissioner Lee has been a stalwart advocate for strong and stable markets, including by emphasizing the need for market participants to maintain the highest ethical standards. She has been a champion for stronger climate disclosures, whistleblower protections, and individual accountability for violations of the securities laws.

We will miss her warmth, strength, intelligence, compassion, and commitment to our mission, her colleagues, and all the members of our staff. We are all better for having had the chance to work with and learn from her. It is hard to say goodbye, but we know that even after she has gone, the agency will continue to benefit for years to come from the many contributions she has made.