Paula Drake Named Chief Counsel and Chief Compliance and Ethics Officer of SEC
The US Securities and Exchange Commission has announced that Paula Drake has been appointed an Associate Director to serve as Chief Counsel and Chief Compliance and Ethics Officer in the SEC’s Office of Compliance Inspections and Examinations (OCIE). Starting August 6, Ms. Drake will oversee a staff of eight lawyers and coordinate the efforts of attorney advisors in the SEC’s eleven regional offices.
Ms. Drake served most recently as General Counsel and Chief Operating Officer at Oechsle International Advisors, LLC, where she was involved in all aspects of the investment management business, including registering investment advisers and establishing risk and compliance programs. Ms. Drake has extensive experience managing litigation, regulatory relationships, examinations, audits and internal investigations, and recently completed eight years as a member of the Board of Governors of the Investment Advisers Association.
Before joining Oechsle, Ms. Drake was an attorney with the law firm of Ropes & Gray, and at Fidelity Investments. She is a graduate of Harvard Law School and received a Bachelor of Arts degree and Ph.D. in English from the University of Massachusetts.
“It’s very exciting to welcome Paula to our leadership team. Paula adds extensive legal, business and industry experience and expertise. She will help us with the continued advancement of the national examination program, including leading the critical legal function, developing our national examination policy manual, and overseeing our internal compliance team,” said OCIE Director Carlo di Florio.
Ms. Drake said, “I am grateful for the opportunity to join OCIE at such an exciting time. The development over the past two years of a national examination program with uniform goals and consistent standards has been critically important. I look forward to supporting the national team as it fulfills its vital mission.”
OCIE conducts the SEC’s national examination program for investment advisers and investment companies, broker-dealers, self regulatory organizations, clearing agencies, and transfer agents to fulfill its mission of promoting compliance, preventing fraud, monitoring risk and informing SEC policy.