There is more upheaval among personnel within the SEC's Division of Investment Management, the unit empowered to regulate mutual funds.
In a rather abrupt departure, Kenneth Domingues voluntarily quit his post as the division's chief accountant on April 9. He had held that title a mere six months. Domingues was originally hired to replace Larry Friend, who had been the division's chief accountant for 28-years. Domingues, 66, came out of retirement in October, 1998 expressly to develop and execute the regulator's accounting and auditing policies and procedures by which mutual funds must abide.