FBI SEC Compliance Board
Past Heads of SEC, FBI on Hedge Fund's Compliance Board
The $7.8 billion New York-based firm said Louis Freeh, the director of the FBI from 1993 until 2001, and Harvey Pitt, chairman of the SEC from 2001 until 2003, will offer their insights on regulatory matters. They are joined on the new independent Regulatory and Compliance Advisory Council by a pair of former SEC commissioners, Aulana Peters and Joseph Grundfest, former federal judge and SEC Enforcement Division chief Stanley Sporkin, and former TIAA-CREF chief investment counsel Peter Clapman, Reuters reports.
In a letter to investors on April 30, Millennium founder Israel Englander said he plans to add two more members to the council, but that the group would begin working together right away as the council “has gotten to critical mass.”
“Our expectation is that the council will help us see the forest, and not just the trees,” Englander wrote.
Millennium’s move follows the establishment of similar compliance boards at hedge funds such as Pershing Square Capital Management. Source