Yet another key person is leaving the Securities and Exchange Commission. General Counsel Giovanni Prezioso, who has served in the position since 2002, is stepping down in January, the SEC has announced. Prezioso plans to return to the private sector, although he has not yet accepted a position. He said he had wanted to leave earlier this year, but stayed due to the arrival of the SEC's new chairman, Christopher Cox, in August.

Serving under three different chairmen, Prezioso presided at the Commission during a period of unprecedented enforcement and regulatory activity, with the SEC pressing 2,000 enforcement actions and holding more than 100 rulemaking proceedings. "I am proud to have played a part as an advocate for the interests of U.S. investors during this historic period for the Commission and our capital markets," Prezioso said in a statement.

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.