The Securities and Exchange Commission has named Julie Riewe and Marshall Sprung as co-chiefs of the Division of Enforcement’s Asset Management Unit, a national specialized unit that focuses on misconduct by investment advisers, investment companies, and private funds.

Riewe and Sprung have been serving as deputy chiefs of the Asset Management Unit since May 2012. They succeed Bruce Karpati, the unit’s inaugural chief, who left in May.

According to the SEC, Riewe and Sprung previously oversaw a number of significant investigations into misconduct by mutual funds, hedge funds, and private equity funds involving portfolio valuation, performance, conflicts of interest, fees, and trading practices.

“Julie and Marshall are exceptionally talented attorneys with significant expertise in this critical area of our enforcement program,” stated Andrew Ceresney, co-director of the SEC’s Division of Enforcement.

“They have been great partners and colleagues, and the strengths that each of them brings to the leadership of the Asset Management Unit will further enhance its mission and the SEC’s efforts to root out fraud by investment advisers, investment companies, and other asset management participants.”

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