The Securities and Exchange Commission (SEC) had announced that the director of its division of corporate finance, Keith Higgins, intends to leave the organization at the beginning of 2017.
After Higgins leaves, Shelley Parratt, deputy director for the division of corporation finance since 2003, will take over as acting director.
“Keith has brought tremendous energy and expertise to the division of corporation finance’s mission to protect investors and facilitate capital formation,” SEC chair Mary Jo White said. “He led our extensive rulemaking efforts and has charted a course to make our disclosure system more effective for investors and companies.”
Higgins has been a part of the SEC since 2013, and was a lawyer for public companies for more than 30 years before that. Over the years, he has overseen a number of programs and legal efforts which have changed the nature of corporate law in the United States, including implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. He has also aided a program to review the securities filings of thousands annually to speed the capital formation process and enable greater disclosure to investors.
“I am proud of what we have been able to accomplish to enhance the agency’s disclosure program, protect investors, and promote capital formation. I will always be grateful for this experience,” Higgins said after his decision was made public.