Senior lawyer returns to SEC to head IPO and letter review department

Paul Atkins, chairperson of the US Securities and Exchange Commission, on Wednesday appointed a key member of his leadership team to head the division that reviews IPOs and corporate disclosures. James Moloney, a partner at Gibson & Co., will take over as head of the SEC's corporate finance division from next month, the SEC said. Mr. Moloney, who served at the SEC from 1994 to 2000, was responsible for mergers and acquisitions and then the corporate finance division, which reviews financial reports filed by companies and ensures that companies fully disclose latent risks to investors. It also issues guidance on how to comply with SEC rules, such as disclosure of executive compensation or reporting requirements for non-GAAP earnings measures. "There is a lot of work ahead and I look forward to returning to the corporate finance department to work with my colleagues to develop smart, practical and effective regulations that will help businesses grow and benefit investors," Ms Moloney said in a statement.