About this item
An insider's look at the SEC and the changes needed to strengthen the U.S. financial systemIn 2008, Americans were reeling from the devastating financial crisis that caused the Great Recession. There were searing questions about how the crisis was allowed to happen and calls for immediate reform from Capital Hill, the news media, and the general public. Multiple scandals sent real fear through the investing community and brought unprecedented heat on the Securities and Exchange Commission (SEC) . There was little doubt that the SEC had to fix rules that permitted bad behavior, shake off decades of complacency and enforce existing laws. Wall Street lawyer Norm Champ spent nearly 20 years dealing with the SEC on behalf of his clients and as an industry representative working to educate the agency about hedge funds.
About the Author
Norm Champ is the former Director of the Division of Investment Management at the U.S. Securities and Exchange Commission. Under his leadership, the SEC adopted a new rule in July 2014 to reform money market mutual funds. In February 2016, Norm joined Kirkland & Ellis LLP Investment Funds Group as a partner. Norm is also a lecturer on investment management at Harvard Law School.Norm's book, called "Going Public: My Adventures Inside the SEC and How to Prevent the Next Devastating Crisis," chronicles his experiences at the agency and how they shed light on the regulatory process and government policy-making.While at the SEC, Norm led the creation of the Division's Risk and Examination Office which monitors the investment management industry to understand risks that regulations should address. He was the leader of the SEC's interactions with the Financial Stability Oversight Council as the Council turned its attention to designating asset management firms as "systemically important." He also worked on crisis management efforts at securities firms to protect customers of those firms. Additionally, Norm 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 managements of asset management firms, respectively. Further, Norm recommended that the Commission adopt the portion of the Volcker Rule covering private funds and other matters. For his service in the Division at the SEC, Norm received the Chairman's Award for Law and Policy in 2014, the Chairman's Award for Labor Management Relations in 2014 and the Chairman's Analytical Methods Award in 2013.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 that capacity he supervised examinations of broker-dealers, investment advisers/investment companies, exchanges, clearing agencies and credit rating agencies. While at OCIE in 2011, Norm received the Chairman's Award for Law and Policy and the Chairman's Award for Labor-Management Relations.Norm has an A.B., summa cum laude, in History from Princeton University and a J.D., cum laude, from Harvard Law School. He was a Fulbright Scholar at King's College London where he received his M.A. in War Studies.To learn more about Norm Champ visit www.normchamp.com.
