The Securities and Exchange Commission today announced that Peter J. Curley has been named Associate Director for Clearance and Settlement in the SEC's Division of Trading and Markets.
As Associate Director, Mr. Curley will oversee the Division's clearance and settlement program, which has been expanded significantly over the past two years. Traditionally focused on securities clearing agencies and transfer agents, the Division's Office of Clearance and Settlement is now additionally responsible for implementing regulations under the Dodd-Frank Wall Street Reform and Consumer Protection Act for clearing agencies that clear security-based swaps, and will be responsible for overseeing security-based swap data repositories.
"I am pleased to welcome Peter to this important role," said Robert Cook, Director of the SEC's Division of Trading and Markets. "His significant expertise in both the securities and derivatives markets together with his senior management experience in the exchange industry makes him a tremendous asset for the clearing and settlement program."
Mr. Curley said, "I am honored to have been asked to take on these new responsibilities as Associate Director. I know from personal experience that everyone in the Office of Clearance and Settlement is enormously talented, dedicated, and committed. I am excited about continuing my work with this team and the rest of the Commission staff in this new role."
Mr. Curley has been an Attorney Fellow in the Division of Trading and Markets since August 2010. Prior to joining the Commission, Mr. Curley was a senior executive with Hong Kong Exchanges and Clearing Limited, where he served as Head of Corporate Strategy and Head of IPO Regulation. He also was a partner with the international law firm of Allen & Overy. Mr. Curley holds an MBA from the Massachusetts Institute of Technology, a JD from the University of Virginia School of Law, and a BA from Colgate University.
Separately, the Securities and Exchange Commission today announced that Brian A. Bussey has been named Associate Director for Derivatives Policy and Trading Practices in the Division of Trading and Markets.
The Office of Derivatives Policy and Trading Practices is at the forefront of the Division's efforts to implement the derivatives provisions of the Dodd-Frank Act, and is responsible for the administration of Regulation SHO and other rules related to short selling and market manipulation. The Office oversees the Division's efforts to provide legal and policy expertise to the Division of Enforcement in enforcement matters pertaining to market regulation and oversight. The Office of Derivatives Policy and Trading Practices is the successor to the Division's Office of Trading Practices and Processing.
During his tenure as head of the Office of Trading Practices and Processing, Mr. Bussey led the Division's effort to establish an Office of Derivatives Policy and to expand the clearance and settlement program. As a result of the growth of the clearance and settlement program and its responsibilities, the Division recently announced the appointment of an Associate Director for Clearance and Settlement.
"Brian played a transformative role during his tenure as Associate Director for Trading Practices and Processing through his leadership, vision, creativity, and drive," said Robert Cook, Director of the SEC's Division of Trading and Markets. "His ability to identify and recruit talent and build teams has resulted in a new derivatives policy program and a revitalized and significantly expanded clearance and settlement program within the Division."
Mr. Bussey said, "I look forward to facing new challenges with the talented and dedicated team of attorneys in the Office of Derivatives Policy and Trading Practices."
Mr. Bussey was named Associate Director for Trading Practices and Processing in the Division of Trading and Markets in September 2009, and was Assistant Chief Counsel in the Division from 2003 to 2009. From 2001 to 2003, he served as counsel to former SEC chairmen William Donaldson and Harvey Pitt and former Acting Chairman Laura Unger. He came to the SEC in 1998, first working as Senior Counsel in the Office of General Counsel and then as Special Counsel in the Office of Chief Counsel in the Division of Trading and Markets.
Prior to joining the SEC staff, Mr. Bussey was a corporate associate at Kirkland & Ellis in Chicago. Mr. Bussey began his legal career in 1995 as a law clerk to Judge E. Grady Jolly, U.S. Court of Appeals for the Fifth Circuit.
Mr. Bussey received his JD with high honors from the University of Chicago Law School, and was awarded Order of the Coif. He received his BA, cum laude, from Pomona College, where he was elected to Phi Beta Kappa.