The Securities and Exchange Commission announced Tuesday that Andrew J. "Buddy" Donohue plans to leave the Washington regulator in November.

Donohue, who was director of the SEC's division of investment management for four years, helped develop significant regulations governing the $39 trillion asset management industry, including investor-oriented rules to improve oversight of money market funds, increase investment adviser custody controls and curtail investment adviser "pay-to-play" abuses.

Under his leadership, the SEC also implemented a new mutual fund summary prospectus and investment adviser disclosure brochure, and proposed to replace rule 12b-1 mutual fund distribution fees with a reformed regulatory framework.

The agency also recently proposed rule amendments to improve information in target date fund advertisements and marketing.

Donohue, 59, was appointed to lead the division of investment management in April 2006. He came to the SEC from Merrill Lynch Investment Managers, where he was global general counsel and ran its legal and regulatory compliance functions. He also was chairman of Merrill's global risk oversight committee.

Before being hired at Merrill, Donohue was executive vice president, general counsel, director, and member of the executive committee for OppenheimerFunds.

 

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access