TheCorporateCounsel.net

On Friday, the SEC issued a press release announcing that Corp Fin Director Erik Gerding intends to leave the SEC at the end of this year. The range of rulemaking adopted under Director Gerding’s leadership has been broad and impressive. As highlighted in the press release:

Mr. Gerding led the Division as it recommended rules to the Commission on climate-related disclosures for investors; cybersecurity risk management, strategy, governance, and incident disclosure by public companies; and special purpose acquisition companies. During his tenure, the Division also implemented new or updated rules on beneficial ownership reporting, universal proxy, listing standards for clawbacks of erroneously awarded compensation, conflicts of interest in securitizations, “pay versus performance” executive compensation disclosures, and Rule 10b5-1 plans regarding when insiders can sell their shares.

The SEC simultaneously announced that Cicely LaMothe will serve as Acting Director upon Director Gerding’s departure. Cicely LaMothe currently serves as Deputy Director, Disclosure Operations for the Division of Corporation Finance and was previously the Program Director of the Disclosure Review Program, Associate Director of the Office of Assessment and Continuous Improvement, and Associate Director of Disclosure Operations.

– Meredith Ervine