More On Legal & Compliance
from The Advisor's Professional Library- Books and Records Rule Thorough and complete books and records enable RIAs to demonstrate that they have fulfilled their fiduciary obligations to clients and complied with applicable rules and regulations.
- Advertising Advisor Services and Credentials Section 206 of the Investment Advisers Act contains the anti-fraud provision of the statute and ensures that RIAs’ advertising and marketing practices are consistent with the fiduciary duty owed to clients and prospective clients.
The Securities and Exchange Commission announced Friday that Andrew J. Bowden has been appointed an associate director to lead the National Investment Adviser/Investment Company Examination Program in the SEC’s Office of Compliance Inspections and Examinations. He starts on Nov. 1.
Bowden--who succeeds Gene Gohlke, who retired from the agency earlier this year after 35 years of public service--comes to the SEC from Legg Mason, where he held senior executive positions in its legal/compliance and business units. He will oversee a staff of approximately 450 lawyers, accountants, and examiners responsible for the inspections of U.S.-registered investment advisors and investment companies.
“Drew brings extensive experience in the operation and oversight of investment advisers and investment companies and will help us implement our risk-based approach to examination of investment advisers and companies,” said OCIE Director Carlo di Florio, in a statement. “Drew also has expertise in leading corporate governance initiatives, which will serve us well as we continue our dialogue with senior management and boards on critical business, risk, and regulatory matters.”
Bowden added in the same release that, “I am grateful for the opportunity to join the investment adviser/investment company professionals at OCIE. Collectively, they have thousands of years of examination experience, which they use to promote compliance and to ensure that investors are treated fairly. I look forward to supporting them in this mission.”
Early in his career, Bowden worked at Legg Mason Inc., and later for Legg Mason Capital Management in various roles, including general counsel, COO and ultimately executive director for sales, client service and marketing.
He also has served on the Board of Governors and Executive Committee of the Investment Advisers Association. He holds a Bachelor of Arts degree in the Honors English Program at Loyola University in Baltimore and a law degree from The University of Pennsylvania.
