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Academic

: The Faculty Lounge

Law Prof Named To Head New SEC Division

By Tim Zinnecker

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Last week the SEC announced the creation of its fifth division, the Division of Risk, Strategy, and Financial Innovation. From the SEC's press release:

The new division combines the Office of Economic Analysis, the Office of Risk Assessment, and other functions to provide the Commission with sophisticated analysis that integrates economic, financial, and legal disciplines. The division's responsibilities cover three broad areas: risk and economic analysis; strategic research; and financial innovation.

* * *

The new division will perform all of the functions previously performed by OEA and ORA, along with the following: (1) strategic and long-term analysis; (2) identifying new developments and trends in financial markets and systemic risk; (3) making recommendations as to how these new developments and trends affect the Commission's regulatory activities; (4) conducting research and analysis in furtherance and support of the functions of the Commission and its divisions and offices; and (5) providing training on new developments and trends and other matters.

Named as the initial director of the Division is law professor Henry T. C. Hu (pictured), who holds the Allan Shivers Chair in the Law of Banking and Finance at the University of Texas. Said Hu:

"I am honored that Chairman Schapiro has asked me to be the director of this new division at this seminal time. The derivatives revolution, the rise of hedge funds and institutional investors, technological change, and other factors have transformed both capital markets and corporate governance. I look forward to working with the Commission and to using an interdisciplinary approach that is informed by law and modern finance and economics, as well as developments in real world products and practices on Wall Street and Main Street."

Professor Hu's profile is here. The UT press release is here.

Full post as published by The Faculty Lounge on September 20, 2009 (boomark / email).