Aggregated News From Investment Management Regulators

SEC Forms Cross-Divisional COVID-19 Market Monitoring Group

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The Securities and Exchange Commission today announced the formation of an internal, cross-divisional COVID-19 Market Monitoring Group.  This temporary, senior-level group will assist the Commission and its various divisions and offices in (1) Commission and staff actions and analysis related to the effects of COVID-19 on markets, issuers, and investors—including our Main Street investors, and (2) responding to requests for information, analysis and assistance from fellow regulators and other public sector partners. 

The COVID-19 Market Monitoring Group will work closely with personnel from across the agency, including staff in the Division of Economic and Risk Analysis (DERA), Division of Trading and Markets, Division of Investment Management, Division of Corporation Finance, Office of Municipal Securities, Office of Credit Ratings, Office of Compliance Inspections and Examinations (OCIE), Office of International Affairs, Office of the Chief Accountant and the SEC’s Activities-Based Monitoring Committee, among others.  The group will also assist in the SEC’s efforts to coordinate with and support the COVID-19-related efforts of other federal financial agencies and other bodies, including the President’s Working Group on Financial Markets (PWG), Financial Stability Oversight Council (FSOC) and the Financial Stability Board (FSB), among others.

“At the SEC, our monitoring of, and responses to, the effects of COVID-19 on our capital markets often must take into account complexities, interconnections and continually evolving dynamics of our markets.  This work benefits from the input of multiple SEC divisions and offices,” said Chairman Jay Clayton.  “For the past several months, the women and men of the SEC have worked across divisions and offices to assess and respond to the effects of COVID-19 on our capital markets and our investors.  The COVID-19 Market Monitoring Group will help us continue and expand upon this interdisciplinary work.  This group will also aid our efforts to assist and support the work of the PWG, FSOC, FSB and our other domestic and global regulatory partners.”

The COVID-19 Market Monitoring Group will be chaired by S.P. Kothari, the SEC’s Chief Economist and Director of DERA.  Jeffrey Dinwoodie, Chief Counsel and Senior Policy Advisor for Market and Activities-Based Risk in the Office of the Chairman, will assist Dr. Kothari in managing and coordinating the efforts of the group. 

“The importance of understanding what is happening in the markets is greater than ever,” said Dr. Kothari.  “Collaboration both within the SEC and with our regulator colleagues is vital to this effort.  I look forward to continuing to work with my colleagues to provide advice and analysis that benefits from their diverse and pragmatic experience.”

The COVID-19 Market Monitoring Group will initially include the following representatives from across the SEC:

  • S.P. Kothari, Chief Economist and Director, DERA (biography)
  • Dalia Blass, Director, Division of Investment Management (biography)
  • Jeffrey Dinwoodie, Chief Counsel and Senior Policy Advisor for Market and Activities-Based Risk, Office of the Chairman (biography)
  • Peter Driscoll, Director, OCIE (biography)
  • Raquel Fox, Director, Office of International Affairs (biography)
  • William Hinman, Director, Division of Corporation Finance (biography)
  • Timothy Husson, Associate Director and Head of Analytics Office, Division of Investment Management (biography)
  • Jessica Kane, Director, Office of Credit Ratings (biography)
  • Rebecca Olsen, Director, Office of Municipal Securities (biography)
  • Sumit Rajpal, Senior Policy Advisor (biography)
  • Brett Redfearn, Director, Division of Trading and Markets (biography)
  • David Saltiel, Associate Director and Head of Office of Analytics and Research, Division of Trading and Markets (biography)

Regulator Information

Abbreviation: SEC
Jurisdiction: United States

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