June 5 (Bloomberg) -- The U.S. Securities and Exchange Commission’s asset management unit has named two new deputies to help manage investigations into possible misconduct at hedge funds and private equity firms.
Julie Riewe and Marshall Sprung, who have both worked in the 75-person group since it was formed in 2010, will jointly fill a vacancy left by the departure of a senior attorney announced last week, according to Bruce Karpati, chief of the asset management enforcement group.
Riewe, 41, joined the SEC in 2005 from law firm Wilmer Cutler Pickering Hale and Dorr LLP. Since then, she has worked on cases involving hedge funds, conflicts of interest, and asset valuation, as well as an insider trading case against Mark Cuban, the billionaire owner of the Dallas Mavericks basketball team. The case has been contested for about three years.
Sprung, 40, came to the SEC from law firm Gibson Dunn & Crutcher LLP in 2003 and has handled investigations involving conflicts of interest and valuation that affect retail investors. Sprung, who is based in the SEC’s regional office in Los Angeles, was part of the SEC’s investigation into the concealment of a coding error in an Axa Rosenberg Group LLC investment model that led to the repayment of $217 million in losses to investors and a $25 million fine.
“Julie and Marshall have been with the unit since day one and have been a key part of its success,” Karpati said in an e-mailed statement today.
The deputy positions were created to replace Robert Kaplan, who had been co-chief of the unit with Karpati before joining law firm Debevoise & Plimpton LLP.
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