The Securities and Exchange Commission today announced that Jessica Kane has
been named the Director of the agency’s Office of Credit Ratings, where she has
served as Acting Director since September 2017.
The Office of Credit
Ratings is responsible for oversight of nationally recognized statistical rating
organizations (NRSROs). The office conducts annual examinations of NRSROs
and works to ensure that credit ratings are not unduly influenced by conflicts
of interest and that NRSROs provide greater transparency and disclosure to
investors.
“Jessica’s strong leadership, dedication, and diverse
experience at the SEC will serve her well in this role,” said Chairman Jay
Clayton. “The Office of Credit Ratings is integral to the SEC’s mission
and plays an important role in ensuring that NRSROs meet their obligations,
investors are well informed, and our markets function
effectively.”
“I am honored to continue leading the Office of
Credit Ratings and working with the talented and dedicated staff in this office
and across the agency,” said Ms. Kane. “I look forward to continuing to
work with Chairman Clayton, the Commissioners, and the staff to ensure effective
oversight of NRSROs.”
Before joining the Office of Credit Ratings,
Ms. Kane was Director of the SEC’s Office of Municipal Securities, which
administers SEC rules on participants in the municipal securities market and
coordinates with the Municipal Securities Rulemaking Board (MSRB) on rulemaking
and enforcement. Key initiatives advanced under Ms. Kane’s leadership
include the implementation of SEC municipal advisor registration rules and a new
regulatory regime for municipal advisors; Commission approval of MSRB rules on
best execution and mark-up disclosure; and a Commission proposal to improve
municipal securities disclosure regarding certain financial obligations incurred
by issuers and obligated persons.
Ms. Kane joined the SEC in 2007
and spent five years in the Division of Corporation Finance before moving to the
Office of Legislative and Intergovernmental Affairs. She later served as
Deputy Director and Senior Special Counsel to the Director of the Office of
Municipal Securities.
Ms. Kane graduated with honors from Georgetown
University, where she received her B.A. degree in English, with a minor in
Economics. She holds a J.D. degree from George Mason University School of
Law, where she was Executive Editor of the Civil Rights Law Journal.