Skip to main content

The SEC Speaks in 2014

 
Author(s): Craig M. Lewis, Norm Champ
Practice Area: Corporate & Securities
Published: Feb 2014
ISBN: 9781402421617
PLI Item #: 51689
CHB Spine #: B2078

Norm Champ is a partner in the New York office of Kirkland & Ellis LLP. Norm is a member of the Investment Funds Group. Previously, Norm was the director of the Division of Investment Management at the U.S. Securities and Exchange Commission (SEC).

Norm’s book, Going Public, about his experiences at the SEC is due out from McGraw-Hill in 2017.

While at the SEC, Norm played a key role in the SEC’s completion of landmark reforms in 2014 to strengthen the $3 trillion money market fund industry, and led important structural and policy changes. He was the leader of interactions with the Financial Stability Oversight Council as the Council turned its attention to whether asset management firms are “systemically important.” He also worked on crisis management efforts at securities firms to protect customers of those firms. Norm also headed the creation of Guidance Updates and Senior Level Engagement initiatives created to provide transparency to the industry and to engage with boards and senior management of asset management firms.

Prior to becoming the Director of the Division of Investment Management, he was the Deputy Director of the SEC’s Office of Compliance, Inspections and Examinations (OCIE) and the Associate Regional Director for Examinations in the SEC’s New York Regional Office. In these capacities he supervised SEC examinations of investment advisors, investment companies, broker-dealers, national securities exchanges, credit rating agencies, clearing firms and other market participants.

Norm is one of several members of the SEC’s Division of Investment Management who have recently joined Kirkland’s Investment Funds Group Regulatory Practice. Jamie Walter served as senior counsel in the Private Funds Branch of the Division’s Rulemaking Office. Aaron Schlaphoff was an attorney fellow in the Division’s Rulemaking Office.

Norm is a frequent and seasoned speaker having presented on securities law topics at SEC programs, Princeton University’s Bendheim Center for Finance, the Practicing Law Institute, ICI, SIFMA, MFA, the Saudi Central Bank, the New York City Bar Association, the International Bar Association, the ACA Compliance Group, Financial Times, and others.

He is also a lecturer on investment management law at Harvard Law School.

Mr. Champ has an A.B. in History from Princeton University and a J.D. from Harvard Law School. He was a Fulbright Scholar at King’s College in London where he received his M.A. in War Studies.


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.