August 25, 2022
Lori Price Named Director of the SEC’s Office of Credit Ratings
The SEC recently announced that Lori Price has been named Director of the Office of Credit Ratings. Lori served as Acting Director since February 2022 and has more than 30 years of experience in various roles at the SEC, including many years in the General Counsel’s office.
The SEC’s Office of Credit Ratings is responsible for oversight of nationally recognized statistical rating organizations (NRSROs), including examinations of NRSROs and developing and administering rules affecting NRSROs. The Office of Credit Ratings was mandated by the Dodd-Frank Act to address the many concerns that arose from the financial crisis regarding the process for assigning credit ratings, which had not been previously regulated by the SEC.
I owe an enormous debt of gratitude to Lori, because she gave me my first job at the SEC. Lori and I both went to the University of Maryland Francis King Carey Law School (where I serve on the Board of Visitors today), and she had graduated a few years before me and began working at the SEC. Lori contacted one of her former professors with an internship opportunity in the SEC’s Office of Administrative Law Judges, and he thought that I might be interested. Looking back today, I cannot figure out how I did it, but somehow I managed to keep my regular paying job, do the SEC internship in the Office of Administrative Law Judges and go to law school at night, all at the same time. I went on to get my first job in Corp Fin largely because the Office of Administrative Law Judges was located on the same floor as Shelley Parratt’s office, and I got to know Shelley from seeing her in the hallways. And the rest, as they say, was history.
– Dave Lynn