SEC Creates Event and Emerging Risk Exam Team

SEC Creates Event and Emerging Risk Exam Team

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On July 28, the SEC announced the creation of the Event and Emerging Risks Examination Team (“EERT”) as part of its Office of Compliance Inspections and Examinations (“OCIE”).

The EERT will work with OCIE’s examination staff in each of the regional offices to implement OCIE exam priorities, including those in OCIE’s annual exam priorities publication. EERT will proactively engage financial firms about emerging threats and current market events to quickly allocate resources and expertise to the SEC’s regional offices when such matters arise. It will also help ensure that firms are prepared to address threats, incidents and emerging risks, and assist OCIE staff in responding to significant market events, such as exchange outages, liquidity events, and cyber-security and operational resiliency concerns.

Adam D. Storch will be the Associate Director of the EERT and oversee the team, which includes specialized examiners, industry experts, accountants and quantitative analysts.

Click here to read the SEC’s full release.

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Darren Mooney is a Partner and the Co-Head of Business Development at Greyline. Before joining Greyline, Darren served as deputy chief compliance officer of Partner Fund Management where he held primary responsibility for the compliance program of the second-largest hedge fund in the Bay Area. Prior to that, Darren spent five years providing compliance consulting services at Cordium and then ACA Compliance Group, where he led the company’s San Francisco office and west coast operations. In addition to providing ongoing consulting services to a variety of investment managers, including hedge fund, private equity, venture capital, real estate, quantitative and other wealth managers, Darren also regularly guided clients through the SEC registration process, implemented tailored compliance programs, supported clients’ live SEC exams, and served as an SEC-mandated independent compliance consultant following an SEC enforcement action. Darren’s other experience includes serving as deputy chief compliance officer and associate counsel at F-Squared Investments where he directly supported the compliance program during the investigation and subsequent enforcement regarding historical advertising practices. Darren has a B.S. in Economics from the University of Delaware and a J.D. from Suffolk University Law School. He is a member of the Massachusetts bar.

Annie Kong

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