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The SEC Speaks in 2015

 
Author(s): Andrew J. Ceresney, Norm Champ
Practice Area: Corporate & Securities
Published: Feb 2015
PLI Item #: 58793
CHB Spine #: B2153

Norm Champ is the Director of the Division of Investment Management of the U.S. Securities and Exchange Commission.

Since his arrival to the Division in 2012, Mr. Champ has introduced “IM Moving Ahead,” a comprehensive self-assessment and revitalization of the Division to transform it into a continuous improvement organization. As part of this effort, IM established the new Risk and Examinations Office to analyze data and developments in the asset management industry.  This initiative includes an enhanced dialogue with industry participants and a review of new products and practices in important asset management firms.  This effort has led to an extensive reorganization to eliminate silos and streamline processes, a new website, and numerous new resources for the Division.  Under his leadership, the Division has recommended, and has had the Commission successfully approve, several significant rules relating to identity theft protection, proprietary trading, principal trading, proposed money market fund reform, credit rating reference removal and other issues.

Prior to joining the Division of Investment Management, Mr. Champ was the Deputy Director of the Office of Compliance Inspections and Examinations of the SEC and the Associate Regional Director for Examinations in the New York Regional Office of the Commission. While Deputy Director of OCIE, Mr. Champ served in various capacities including supervising the national broker-dealer, investment adviser/investment company, credit rating agency examination programs and Chief Counsel office.  Mr. Champ has participated in the Commission’s international technical assistance program in Saudi Arabia and Abu Dhabi. Mr. Champ has received SEC Chairman’s awards for Dodd-Frank Implementation (2011), Labor-Management Relations (2011), and Quantitative Analytics (2013).

Mr. Champ is a Lecturer on Law at Harvard Law School where he teaches Private Fund Investment Management Law. He has been a panelist on securities law topics at many forums including the Commission, the Practicing Law Institute, SIFMA, MFA, the Saudi Central Bank, the New York City Bar Association, Princeton University, the International Bar Association and other organizations.

Before joining the staff of the Commission in 2010, Mr. Champ was Executive Vice President and General Counsel of Chilton Investment Company, an investment adviser to long/short equity hedge funds and managed accounts. From 2006 to 2009, Mr. Champ was a member of the Board of Directors of the Managed Funds Association, an alternative investment industry trade group, and was Chair of its Investor Protection Task Force.  Prior to joining Chilton in 1999, Mr. Champ was with the law firm of Davis Polk & Wardwell.  From 1990 to 1992, Mr. Champ clerked for the Honorable Charles S. Haight, Jr., of the U.S. District Court for the Southern District of New York.

Mr. Champ has an A.B. in History from Princeton University and a J.D. from Harvard Law School. He was a Fulbright Scholar at King’s College in London where he received his M.A. in War Studies.


Mr. Ceresney is the Director of the SEC’s Enforcement Division, which has more than 1,300 people throughout the country focused on enforcing the federal securities law.  He joined the SEC in April 2013. 

Prior to joining the SEC, Mr. Ceresney served as a partner in the law firm of Debevoise & Plimpton LLP, where he was co-chair of the White Collar Group and focused on representing entities and individuals in white collar criminal and SEC investigations, complex civil litigation and internal corporate investigations.

Prior to joining Debevoise, Mr. Ceresney served as an Assistant United States Attorney in the United States Attorney’s Office for the Southern District of New York, where he was a Deputy Chief Appellate Attorney and a member of the Securities and Commodities Fraud Task Force and the Major Crimes Unit.  As a prosecutor, Mr. Ceresney handled numerous white collar criminal investigations, trials and appeals, including matters relating to securities fraud, mail and wire fraud, and money laundering.

Mr. Ceresney served as a law clerk to the Honorable Dennis Jacobs, Chief Judge of the U. S. Court of Appeals for the Second Circuit from 1997 to 1998.  He served as law clerk to the Honorable Michael Mukasey, formerly Chief Judge of the U. S. District Court for the Southern District of New York, from 1996 to 1997.

Mr. Ceresney is a graduate of Columbia College and Yale Law School.