The Securities and Exchange Commission today announced that Kathleen M. Griffin has been named the agency's first Chief Compliance Officer - the latest in a series of measures undertaken to strengthen the SEC's internal compliance program.
The position was created to streamline and centralize oversight responsibility for employee securities transactions and financial disclosure reporting. Ms. Griffin, who has extensive experience in establishing and guiding compliance programs, will head a new compliance unit within the SEC's Office of Ethics Counsel.
"We have established a system of real-time financial reporting and we are fortunate to have a proven compliance professional like Kathleen on board to greatly strengthen our program," said William Lenox, the SEC's Ethics Counsel. "Kathleen will help assure that the hardworking SEC staff continues to adhere to the highest ethical standards."
Ms. Griffin said, "I'm honored to have been selected for this important position and I look forward to working with our compliance personnel and all employees to uphold the integrity of the SEC staff and our securities markets."
Oversight responsibility for ensuring staff compliance in this area was previously spread between two offices. Consolidating the compliance functions within one office is intended to eliminate the potential for any inefficiency or redundancy.
Ms. Griffin, 57, begins her new position this week and comes to the SEC from Putnam Investments, a global money management firm where she was Vice President, Senior Compliance Manager, and Deputy Code of Ethics Officer.
Among Ms. Griffin's other prior experience, she was Senior Vice President and Director of Compliance for Atlantic Trust Company, N.A., and Vice President and Principal of State Street Global Advisors. She earned her BA at the University of Massachusetts-Boston.