Sec Cryptocurrency SEC Announces Departure of Renee Jones; Erik Gerding Named Director of Division of Corporation Finance

The Securities and Exchange Commission today announced that Renee Jones, Director of the Division of Corporation Finance, will depart the agency to return to her faculty position at Boston College Law School, effective Feb. 3, 2023. Erik Gerding, currently the Division’s Deputy Director, will be appointed Director of the Division, effective upon Ms. Jones’s departure.

“Renee has led the Division of Corporation Finance during a time when we have proposed – and in numerous cases adopted – critical reforms to benefit investors,” said SEC Chair Gary Gensler. “I am grateful for her counsel, judgment, and deep understanding of the capital markets. Thanks to Renee’s leadership, we have enhanced investors’ access to the full, fair, and truthful information as required by our securities laws to make informed investment decisions.”

“I am pleased to continue to work with Erik in this new role,” Chair Gensler added. “The SEC will continue to benefit from Erik’s experience and expertise, qualities that defined his service as Deputy Director. I am confident that, under his leadership, the Division’s talented staff will continue to advance its important work on behalf of investors, issuers, and markets.”

Ms. Jones was appointed Director of the Division of Corporation Finance in June 2021. While in the role, she oversaw the Division’s work that resulted in the proposal of 12 rules and the adoption of nine rules covering topics such as the disclosure of climate-related risks and cybersecurity risks, special purpose acquisition companies, executive compensation, and insider trading. She also oversaw the Division’s disclosure review program as it sought enhanced corporate disclosures on climate risks and crypto asset risks, and implemented the Holding Foreign Companies Accountable Act. Before joining the agency, Ms. Jones served as Professor of Law and Associate Dean for Academic Affairs at Boston College Law School, where she taught courses in corporations, securities regulation, corporate governance, and financial regulation. Previously, she represented private and public companies on corporate and securities matters at Hill & Barlow law firm. Jones is a member of the American Law Institute and has served as the Co-Chair of the Securities Law Committee of the Boston Bar Association. She received an undergraduate degree from Princeton University and a J.D. from Harvard Law School.

“I am grateful to Chair Gensler for providing me the incredible honor and privilege of leading the Division of Corporation Finance during this critical juncture for the capital markets and our national economy,” Ms. Jones said. “It’s been extremely rewarding to work alongside so many talented and dedicated people throughout the agency. I also thank Commissioners Peirce, Crenshaw, Lizarraga, and Uyeda and former Commissioners Lee and Roisman for their support of the Division’s work. We could not have made such progress on the Commission’s regulatory agenda without them. I also extend my gratitude to the Division’s talented staff for their hard work and dedication to the agency’s mission. I am proud of all that we have accomplished on behalf of investors over the past 19 months. I have every confidence that the Division will continue to deliver on the agency’s mission under Erik’s leadership. ”

Mr. Gerding joined the SEC in October 2021 and leads Legal and Regulatory Policy in the Division of Corporation Finance. He has taught as Professor of Law and a Wolf-Nichol Fellow at the University of Colorado Law School, where he has focused in the areas of securities law, corporate law, and financial regulation. Mr. Gerding previously taught at the University of New Mexico School of Law. He also practiced in the New York and Washington, D.C., offices of Cleary Gottlieb Steen & Hamilton LLP, representing clients in the financial services and technology industries in an array of financial transactions and regulatory matters. He received an undergraduate degree from Duke University and a J.D. from Harvard Law School.

“I look forward to continuing the work that Renee led at the Division over the last year both to improve the disclosures that investors receive and to fulfill the Commission’s statutory mandate,” Mr. Gerding said. “I am humbled to serve the Commission and lead such a talented and dedicated staff, particularly during a period of incredible change in securities markets.”