SEC Investment Management Deputy Director to Retire by September
Robert E. Plaze, the deputy director of the U.S. Securities and Exchange Commission’s Investment Management Division, will retire at the end of the month, the agency announced today.
Plaze recently oversaw rulemaking for money-market mutual funds and directed implementation of a Dodd-Frank Act rule requiring private fund advisers to register with the SEC, the agency said in a statement. Since joining the division in 1983, Plaze helped establish rules for investment advisers, investment companies and private fund advisers, according to the commission.
“Few people have had as great an impact shaping the regulatory landscape for the benefit of individual investors,” SEC Chairman Mary Schapiro said in the release. “Bob’s keen intellect and passion for investor protection have been central to virtually every significant rule affecting mutual funds and investment advisers for more than a generation.”
Plaze’s departure comes as the SEC is considering rules that would require the $2.5 trillion money-fund sector to float share prices or hold more capital. The SEC’s five commissioners have received a 337-page staff proposal for the rules, which three of the commissioners are resisting despite pressure from the Federal Reserve to increase regulation.
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