Last week, the Securities and Exchange Commission (“SEC”) announced that SEC Chief of Staff Lona Nallengara will be leaving the agency at the end of June.
According to the press release, Mr. Nallengara was well accomplished. Before his appointment as chief of staff in May 2013, he spent two years in the Division of Corporation Finance. Under Mr. Nallengara’s supervision, the “agency advanced a broad policy agenda, completing numerous rulemakings ranging from major reforms addressing money market funds, asset-backed securities markets, credit rating agency operations, security-based swaps, municipal advisors and proprietary trading activities to significant capital formation initiatives, such as lifting the ban on general solicitation and Regulation A reform, and strengthened its enforcement and examination programs.”
“Lona is in a league by himself,” said SEC Chair Mary Jo White. “He is a trusted advisor who brings strong leadership, incredible intellect, and a tremendous work ethic that is beyond compare. He is a true public servant who cares deeply for this institution, its mission, and for all those who work here. Working closely with Lona has been a pleasure and privilege and his expertise, sound judgment, compassionate leadership, and good humor have been invaluable to me. I am deeply grateful for all he has done for me and the agency.
“It has been an incredible honor and privilege to serve Chair White and to work alongside the talented SEC staff whose dedication and commitment to protecting investors and strengthening our markets is truly inspiring,” said Mr. Nallengara. “My time at the Commission has been a highlight of my career and I will be forever grateful for this opportunity.”
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