Reuters: Regulatory News: SEC investment management director to retire

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SEC investment management director to retire Jun 15th 2012, 20:42 WASHINGTON, June 15 | Fri Jun 15, 2012 4:42pm EDT WASHINGTON, June 15 (Reuters) - The director of the U.S. Securities and Exchange Commission's investment management division will retire in July, the agency said on Friday. Eileen Rominger, a former top official at Goldman Sachs Asset Management, leaves the division that regulates the multi-trillion dollar asset management industry. Rominger's departure comes amid several controversial and unresolved policy battles in areas she helped oversee, such as whether the SEC should establish new rules for money market mutual funds, and whether mutual funds should be required to register with the Commodity Futures Trading Commission. For Rominger, "it's been a very hard tenure with a lot of contentious rulemaking," said Barry Barbash, a former SEC official who is now an attorney at the Washington law firm of Willkie Farr & Gallagher. Coming into the job when Rominger did, at the start of 2011, "I'm not sure that anyone would have realized the contentiousness that would arise," he said. Rominger joined the SEC after 11 years at Goldman Sachs , most recently as global chief investment officer of Goldman Sachs Asset Management. Before that she spent 18 years at Oppenheimer Capital. "Eileen understood the importance of a fair and efficient investment management industry to the well-being of investors everywhere," SEC Chairman Mary Schapiro said in a statement. Link this Share this Digg this Email Reprints

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