(Article from Registered Funds Regulatory Update, July 2025)
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On June 13, 2025, the SEC announced the appointment of Brian T. Daly as the new SEC Director of the Division of Investment Management, effective July 8, 2025. Daly, a Partner in the Investment Management practice specializing in cryptocurrencies and alternatives at Akin Gump Strauss Hauer & Feld LLP, will replace Natasha Vij Greiner following her departure from the SEC on July 4, 2025.
“Brian has deep familiarity with all levels of the investment management industry…I am looking forward to working with Brian on common-sense regulation that does not impose unnecessary burdens and genuinely embraces the public comment process,” said SEC Chair Paul Atkins. Atkins recently announced that he was directing SEC Staff to reconsider longstanding guidance that prohibits many retail investors from accessing BDCs, interval funds, and other closed-end funds. Daly’s appointment makes clear that Atkins’ efforts to prioritize cryptocurrency, as well as expand access to private market strategies to retail investors, will be an area of focus for the Division going forward.
Press Release, Brian Daly Named Director of Division of Investment Management (June 13, 2025), available at: https://www.sec.gov/newsroom/press-releases/2025-88-brian-daly-named-director-division-investment-management.
Press Release, Natasha Vij Greiner Will Conclude Her Tenure as Director of Investment Management (June 10, 2025), available at: https://www.sec.gov/newsroom/press-releases/2025-84-natasha-vij-greiner-will-conclude-her-tenure-director-investment-management.