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The SEC Speaks in 2013

Author(s): Carlo V. di Florio, Craig Lewis
Practice Area: Corporate & Securities
Published: Feb 2013
ISBN: 9781402419478
PLI Item #: 41944
CHB Spine #: B2006

Carlo di Florio joined FINRA in June 2013 as Chief Risk Officer and Head of Strategy. Carlo also serves on the Executive Committee of the Board of Governors of the Risk Management Association (RMA) in New York, and he teaches Strategic Risk Management at Columbia University in the Master’s Program for Enterprise Risk Management.

Prior to joining FINRA, Carlo served as the Director of the SEC's Office of Compliance Inspections and Examinations from 2010 through 2013.  In that role, he oversaw a team of 900+ examiners across the country in the SEC's nationwide examination programs for investment advisers, investment companies, hedge funds, private equity firms, broker-dealers, securities markets, credit rating agencies and clearing agencies. At the SEC, Carlo led a transformation to a risk based exam program, coordinated with regulatory partners nationally and internationally, regularly represented the SEC at media and conference events and testified before committees of both the United States Senate and the House of Representatives regarding regulatory strategy, risk and performance. 

Before joining the SEC in 2010, Carlo was a partner with PricewaterhouseCoopers in its Financial Services Risk & Regulatory Practice in New York, advising financial services clients across banking, capital markets, asset management and insurance industries globally.  In this capacity, Carlo helped clients: understand and address new regulatory requirements; implement tailored risk governance, risk management and compliance management programs; and undertake large scale investigations and regulatory remediation projects across a broad range of risk and regulatory topics.

Carlo received his Master of Laws (LL.M) in International and Comparative law with distinction from Georgetown University Law Center, his J.D. from Penn State University and his bachelor's degree in political economy from Tulane University. Carlo was named by the National Association of Corporate Directors as one of the 100 Most Influential Leaders in Corporate Governance, by Worth Magazine as one of the 100 Most Influential People in Finance and by The National Law Journal as one of the Top 50 Trailblazers & Pioneers in Governance, Risk Management and Compliance.

Craig M. Lewis is Chief Economist and Director of the Division of Economic and Risk Analysis at the U.S. Securities and Exchange Commission.  He is currently on leave from Vanderbilt University where he is the Madison S. Wiggington Professor of Finance at the Owen Graduate School of Management.

He first served at the SEC as a visiting Economic Fellow from January 2010 through July 2010, and subsequently returned in the same capacity in January 2011.  Lewis has conducted research on volatility in stock and futures markets, margin adequacy, corporate earnings management, corporate financial policy, executive compensation, selective disclosure, and herd behavior by equity research analysts.  His research has been published in the Journal of Financial Economics, Review of Financial Studies, Journal of Econometrics, Journal of Financial and Quantitative Analysis, among other places.

He is associate editor of the Journal of Corporate Finance, Journal of Business Accounting and Finance, and the North-American Journal of Economics and Finance, and has been associate editor of the Journal of Financial Research.