Regulation

SEC director of division of investment management to depart in September

David W. Grim, director of the division of investment management at the Securities and Exchange Commission, is leaving the agency in September, according to an SEC news release.

Mr. Grim, who originally joined the SEC's division of investment management in 1995 as a staff attorney, was named director of the division in 2015 following stints as deputy director of the division and assistant chief counsel.

"From the moment I set foot here, I knew the SEC was a special place because of its mission and its exemplary workforce with an unwavering commitment to doing what is right for investors," Mr. Grim said in the news release. "I have been a proud member of the staff of the division of investment management for 22 years, and it has been a privilege to serve the investing public as the division's director."

Mr. Grim's future plans, and the SEC's plans for a replacement, were not disclosed.

Norm Champ, former director of the SEC's division of investment management and Mr. Grim's immediate predecessor, said in an emailed statement, "I applaud my friend and former colleague David Grim on his exemplary leadership of the division of investment management and his years of service in the public interest at the SEC. I relied daily on Dave's mastery of both the Investment Company and Investment Advisers Acts and his superb judgment when we worked together leading the division. He is an extraordinary lawyer of the very highest character and the agency is fortunate to have staff like David who are willing to dedicate their best energies to protecting investors and the integrity of our markets. I could not be more proud of David's service and his work, and I am grateful for the opportunity I had to work so closely with him during my time at the commission."

Erin Stattel, SEC spokeswoman, declined to comment.