The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:SEC Turns Critical Eye Inward Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, July 1, 2004

SEC Turns Critical Eye Inward

by: Theresa Sim

The SEC is on its way to becoming a lean, mean regulatory machine. A former Fidelity executive will take leadership of a newly formed risk assesment office, the SEC announced on Thursday.

As the head of the Office of Risk Assessment, Charles Fiskin, former vice president of Firmwide Risk at Fidelity, will direct a team of 15 and report directly to Chairman William Donaldson.

With Fishkin's hiring, it appears the agency is turning a critical eye inward. The goal of the ORA is to improve operations internally and externally.

Fishkin and the ORA's goals are wide-ranging: "ORA will coordinate the internal risk teams to improve the agency’s ability to anticipate potential problem areas across the securities industry, and will focus on early identification of new or resurgent forms of fraud and illegal or questionable activities," stated the agency.

In simple language, spokesman Matthew Well says Fishkin will lead the group in examining "mundane" internal matters, such as administrative problems, to identifying external market trends and effectively targeting problems.

Donaldson first spoke about the risk assessment initiative last year, after reviewing operations at the SEC. Since then, the agency has interviewed more than 300 people in order to staff the team, said Well.

Well characterized the office as a "way of breaking down divisional barriers." Divisional teams will meet monthly with the ORA. Currently three of the so-called "embedded" teams have been formed, with plans for two more underway, said Well.

"The Office of Risk Assessment…will help the...have the information necessary to make better, more informed decisions and to proactively adjust operations, resources, and methods of oversight to address new challenges and prevent problems," stated Donaldson. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use