The Securities and Exchange Commission (SEC) Director of the Division of Corporation Finance Erik Gerding is leaving the agency, effective Dec. 31.
“I want to thank Erik for his leadership of the Division of Corporation Finance,” SEC Chairman Gary Gensler said. “During his time of service, we’ve adopted important reforms regarding corporate governance to better promote trust in the markets. We’ve adopted important reforms to enhance investors’ access to full, fair, and truthful information, a founding principle of our securities laws. I wish him very well in his next pursuits.”
Gerding joined the SEC in 2021 as Division of Corporation Finance deputy director. In the role, he was tasked with legal and regulatory policy. In February 2023, he became director. As director, Gerding implemented new or updated rules on beneficial ownership reporting, conflicts of interest in securitizations, listing standards for clawbacks of erroneously awarded compensation, “pay versus performance” executive compensation disclosures, Rule 10b5-1 plans regarding when insiders can sell shares, and universal proxy.
Cicely LaMothe will serve as acting director. She is the current Disclosure Operations for the Division of Corporation Finance deputy director.
The division recommends rules to the commission on special purpose acquisition companies, cybersecurity risk management, strategy, governance, and incident disclosure by public companies; and climate-related disclosures for investors.