SEC Names 2 Acting Directors
December 17, 2012
Newly installed Securities and Exchange Commission Chairman Elisse B. Walter Monday named acting directors for two of its divisions.
• John Ramsay, acting director, Division of Trading and Markets. He will replace Robert Cook, who announced that he plans to step down after a short transition period.
• Lona Nallengara, acting director, Division of Corporation Finance. He will replace Meredith B. Cross when she leaves the SEC to return to the private sector at the end of the year
Ramsay has served as a deputy director of the trading and markets unit, since September 2010. He has been responsible for broker-dealer financial responsibility, risk oversight, and clearance and settlement functions.
Ramsay previously worked at the SEC from 1989 to 1994 in various posts including as counsel to then-Commissioner Mary L. Schapiro.
He has been a partner at the law firm of Morgan Lewis and Bockius, senior vice president of the Bond Market Association (now the Securities Industry and Financial Markets Association), and managing director and deputy general counsel at Citigroup Global Markets.
Nallengara has served as deputy director for Legal and Regulatory Policy of the finance division since March 2011
Nallengara has helped develop complex rulemakings required by the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Division’s implementation of the Jumpstart Our Business Startups (JOBS) Act.
Nallengara joined the SEC from Shearman & Sterling LLP in New York, where he was a partner in the Capital Markets practice group .
￼Mary Schapiro, chairman of the SEC since early 2009, stepped down this month.