Washington DC
04 August 2017
Reporter: Jenna Lomax

Investment management director leaves SEC


The US Securities and Exchange Commission's (SEC's) director of the division of investment management, David Grim, will leave the agency next month after 22 years of service.

According to SEC, Grim leaves a legacy of regulatory policy reforms and legal guidance that shaped the division to what it is today.

Grim also helped the regulator to adopt a modernised, comprehensive data-reporting regime to improve access and quality of information for themselves, as well as their clients.

Grim, who joined SEC in 1995, began as a staff attorney in the division’s office of investment company regulation. In 2007, he became assistant chief counsel and went on to be appointed as deputy director in 2013. Two years later he was appointed director.

The SEC did not disclose Grim's next destination or if his replacement has been found.

Jay Clayton, chairman of the SEC, said: “America’s investors have been well-served by David Grim’s dedication, commitment and expertise.”

Grim commented: “I have been a proud member of the staff of the division of investment management for 22 years, and it has been a privilege to serve the investing public as the division’s director.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Merrill Lynch first to fall foul of UK’s EMIR reporting rules
23 October 2017 | London | Reporter: Drew Nicol
The bank accepted a £34.52 million penalty relating to 68.5 million unreported transactions between February 2014 and February 2016
Wolters Kluwer chosen for risk and reg by Polish bank
23 October 2017 | Warsaw | Reporter: Theo Andrew
Bank BPS will use the OneSumX solutions for static and dynamic projection analysis, liquidity reporting, interest-rate and foreign-exchange risk, as well as value-at-risk analysis
Iberclear bank on Citi to provide global custody
20 October 2017 | Madrid | Reporter: Jenna Lomax
The agreement, signed at this years Sibos conference in Toronto, will enable Spanish clearing houses to settle international securities via local CSDs
Clearstream promises post-Brexit services continuity
20 October 2017 | London | Reporter: Jenna Lomax
Despite the uncertainty that came after the referendum results last year, Clearstream said its main objective through Brexit was to minimise risk of cross-border settlement
AI will be transformative, but is still in early stages
19 October 2017 | Toronto | Reporter: Stephanie Palmer
Artificial intelligence is a “transformational technology” that will improve productivity and security, and provide a competitive advantage, according to a live poll at Sibos 2017
Security and standards key in blockchain solutions
19 October 2017 | Toronto | Reporter: Stephanie Palmer
Distributed ledger technology (DLT) solutions should embed security measures at their very core, especially in the financial services space, according to Sibos panellists
LCH promotes Daniel Maguire to CEO
19 October 2017 | London | Reporter: Jenna Lomax
Maguire, who has been COO of the same department since April this year, was previously senior vice president for commodity exotics and hybrids at J.P. Morgan
More news