Lona Nallengara was named the SEC acting director for the division of corporate finance.
Mr. Nallengara is replacing Meredith B. Cross, who left the agency Dec. 14. Ms. Cross was part of the senior management team of the outgoing chairwoman, Mary Schapiro, who also left Dec. 14.
Mr. Nallengara was deputy director for legal and regulatory policy in the division since March 2011. He has been in charge of rule creation required by the Dodd-Frank Wall Street Reform and Consumer Protection Act and of regulations implementing the Jumpstart Our Business Startups Act.
“He appreciates the impact that our rules have not only on the lives of everyday investors, but also on the financial system as a whole,” said SEC Chairwoman Elisse Walter in a statement.