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The SEC Speaks in 2015

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

Norm Champ is a partner in the New York office of Kirkland & Ellis LLP. Norm is a member of the Investment Funds Group. Previously, Norm was the director of the Division of Investment Management at the U.S. Securities and Exchange Commission (SEC).

Norm’s book, Going Public, about his experiences at the SEC is due out from McGraw-Hill in 2017.

While at the SEC, Norm played a key role in the SEC’s completion of landmark reforms in 2014 to strengthen the $3 trillion money market fund industry, and led important structural and policy changes. He was the leader of interactions with the Financial Stability Oversight Council as the Council turned its attention to whether asset management firms are “systemically important.” He also worked on crisis management efforts at securities firms to protect customers of those firms. Norm also headed the creation of Guidance Updates and Senior Level Engagement initiatives created to provide transparency to the industry and to engage with boards and senior management of asset management firms.

Prior to becoming the Director of the Division of Investment Management, he was the Deputy Director of the SEC’s Office of Compliance, Inspections and Examinations (OCIE) and the Associate Regional Director for Examinations in the SEC’s New York Regional Office. In these capacities he supervised SEC examinations of investment advisors, investment companies, broker-dealers, national securities exchanges, credit rating agencies, clearing firms and other market participants.

Norm is one of several members of the SEC’s Division of Investment Management who have recently joined Kirkland’s Investment Funds Group Regulatory Practice. Jamie Walter served as senior counsel in the Private Funds Branch of the Division’s Rulemaking Office. Aaron Schlaphoff was an attorney fellow in the Division’s Rulemaking Office.

Norm is a frequent and seasoned speaker having presented on securities law topics at SEC programs, Princeton University’s Bendheim Center for Finance, the Practicing Law Institute, ICI, SIFMA, MFA, the Saudi Central Bank, the New York City Bar Association, the International Bar Association, the ACA Compliance Group, Financial Times, and others.

He is also a lecturer on investment management law at Harvard Law School.

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, trial 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.