SEC’s asset management enforcer to depart
12 April 2016 Washington DC
Image: Shutterstock
Securities and Exchange Commission (SEC) asset management enforcement co-chief Marshall Sprung will leave his role in April.
As co-head of the unit, Sprung oversees investigates violations of the federal securities laws by investment advisers, registered funds, and private funds. He has held the position for two-and-a-half years.
According to the SEC, Sprung was instrumental in transforming the unit into an agency leader on leveraging data and designing risk-analytic initiatives in key priority areas, including private equity, mutual fund fee and revenue sharing, and aberrational private fund performance.
A hallmark of Sprung’s tenure was building a nationwide team with expertise in the asset management industry that partnered with other SEC divisions for examination sweeps, rulemakings and more effective detection of emerging risks.
Co-chief Anthony Kelly will continue to lead the unit’s team of 80 attorneys, industry experts and other professionals, following Sprung’s departure.
Sprung said: “It has been an honour to work with staff throughout the division of enforcement and the SEC who inspired me with their unwavering professionalism, skill and talent during my tenure at the agency.”
“I am particularly proud of my colleagues in the asset management unit for their grit and dedication in ferreting out misconduct by investment advisers and developing the expertise needed to protect investors from fraud and other unlawful practices in the complex asset management industry.”
Andrew Ceresney, director of the SEC’s enforcement division, added: “Marshall Sprung has served as a thoughtful, creative, and driven co-chief of the asset management unit.”
“He helped the unit grow its expertise and drove the unit’s data-driven approach that led to innovative and impactful cases involving asset managers and investment advisers.”
As co-head of the unit, Sprung oversees investigates violations of the federal securities laws by investment advisers, registered funds, and private funds. He has held the position for two-and-a-half years.
According to the SEC, Sprung was instrumental in transforming the unit into an agency leader on leveraging data and designing risk-analytic initiatives in key priority areas, including private equity, mutual fund fee and revenue sharing, and aberrational private fund performance.
A hallmark of Sprung’s tenure was building a nationwide team with expertise in the asset management industry that partnered with other SEC divisions for examination sweeps, rulemakings and more effective detection of emerging risks.
Co-chief Anthony Kelly will continue to lead the unit’s team of 80 attorneys, industry experts and other professionals, following Sprung’s departure.
Sprung said: “It has been an honour to work with staff throughout the division of enforcement and the SEC who inspired me with their unwavering professionalism, skill and talent during my tenure at the agency.”
“I am particularly proud of my colleagues in the asset management unit for their grit and dedication in ferreting out misconduct by investment advisers and developing the expertise needed to protect investors from fraud and other unlawful practices in the complex asset management industry.”
Andrew Ceresney, director of the SEC’s enforcement division, added: “Marshall Sprung has served as a thoughtful, creative, and driven co-chief of the asset management unit.”
“He helped the unit grow its expertise and drove the unit’s data-driven approach that led to innovative and impactful cases involving asset managers and investment advisers.”
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