(Bloomberg) -- The Securities and Exchange Commission named Andrew J. Bowden director of its national exam program, replacing Carlo V. di Florio who is leaving next month to join the Financial Industry Regulatory Authority.

Bowden, 51, will take over the SEC’s second-largest division, which oversees compliance with regulations and works to detect fraud by examining brokerages, investment advisers, exchanges and clearing agencies. He takes over at a time when the SEC is seeking new funding to boost the percentage of investment advisers who are annually examined, which was 8 percent last year.

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