SEC’s Riewe to step down

Julie Riewe is leaving the US Securities and Exchange Commission (SEC) Division of Enforcement's Asset Management Unit in February, after 10 years with the government agency.

It is unclear where she is headed next. A spokesperson for the SEC did not return a request for comment.

Riewe served as co-chief of the asset management unit since 2013 alongside Marshall Sprung who will continue to lead the unit following her departure.

During her tenure she has spearheaded various significant initiatives within the unit, which was created in 2010 to investigate investment companies, investment advisers and private funds, including the “Aberrational Performance Inquiry,” which focused on suspicious returns by private funds.

Riewe was also involved with high-profile cases targeting the private equity industry, including The Blackstone Group’s $39 million settlement for failing to properly disclose accelerated monitoring fees as well as discounts on legal fees; and BlackRock Advisors for failing to disclose a conflict of interest arising from a top-performing portfolio manager’s outside business activity.

She spoke about the Division of Enforcement's plans to step up its focus on conflicts of interest and fee and expense arrangements at the IA Compliance Forum back in February last year, as reported on pfm.