(Bloomberg) -- The top regulator of mutual funds, private equity and hedge funds at the U.S. Securities and Exchange Commission will step down later this month.

Norm Champ, the SEC’s director of investment management, will resign after five years at the agency, the SEC said today in a statement. Champ oversaw efforts to adopt new regulations for money-market mutual funds, which the five-member SEC approved in July.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.