As Senior Special Counsel to the Associate Director (Exemptive Applications) in the Division of Investment Management, the incumbent assists the Associate Director in formulating policy generally concerning a wide range of matters, but with a particular focus on the regulation of exchange-traded funds ("ETFs") registered under the Investment company Act of 1940. Directly engages in and oversees the gathering, analysis, compilation, and evaluation of information and the development of finding and recommendations for projects for which he/she is responsible and develops policy sensitive material, rules and interpretations relating to ETFs.
Provides expert research, analyses and advice to the Division and Commission on complex and unusual applications for exemptive relief relating to ETFs under the 1940 Act and on complex and unusual market structure issues as relevant to the use and development of ETFs. Directly engages in and oversees the initiation, design, order and direction of special research projects and studies designed to suggest appropriate regulatory policies generally and with a particular focus on ETFs, including necessary statutory provision, rules, and forms, to further investor protection and to refine the regulatory system to eliminate duplication of effort and to reduce costs and burdens.
Drafts or oversees preparation of written interpretations to the industry or the public with regard to the application of various provisions of the securities laws, rules, and regulations thereunder, or the financial plans and other actions proposed by investment companies, including ETFs, and investment advisers. Analyzes, or oversees the analysis of, legal memoranda and reports prepared by the staff of the various divisions and offices, as such documents may affect the incumbent's program responsibility, and provides the Associate Director and other senior Division officials with recommendations on proper courses of action. Keeps cognizant of current legal developments and trends in the Commission work to inform the Associate Director and present his/her own conclusions as to the possible effects on Commission programs as they pertain to the regulation of investment companies, particularly ETFs, and investment adviser. Supervise attorneys and other in matters that are incumbent's responsibility.
