12/23/2020 | Press release | Distributed by Public on 12/23/2020 10:23
FOR IMMEDIATE RELEASE
Washington D.C., Dec. 23, 2020 -
The Securities and Exchange Commission today announced that Sean Memon will conclude his tenure as the agency's Chief of Staff in January 2021.
Mr. Memon joined the SEC as Deputy Chief of Staff in May 2017 and was named Chief of Staff in June 2019. As Chief of Staff, Mr. Memon served as principal advisor to Chairman Clayton on legal, policy and management matters affecting each aspect of the agency's mission, including rulemaking, enforcement, examinations and internal agency operations. Often representing the SEC in interagency policy initiatives, Mr. Memon worked closely with cross-divisional teams within the SEC and with other federal agencies and international bodies, including the Department of the Treasury, the Federal Reserve, the CFTC, the FDIC, and the OCC as well as the Financial Stability Oversight Council and Financial Stability Board. Mr. Memon played a key role in the SEC's efforts to ensure continued orderly market operations in response to the COVID-19-related economic stresses in 2020.
'Applying his remarkably broad and deep knowledge of the global financial system and our domestic regulatory framework, Sean has been an indispensable asset to me and the Commission,' said SEC Chairman Jay Clayton. 'Sean deftly handles the most important and complex issues facing the Commission, identifying effective, consensus-based solutions using his unique combination of technical expertise, commitment to mission and inclusive approach to leadership. It has been my great pleasure to serve alongside Sean and witness firsthand the many lasting contributions he has made to our markets and our investors.'
'It has been the honor of my professional career to manage the affairs of the Commission under Chairman Clayton,' said Mr. Memon. 'This agency is a special place, principally because of the unwavering, collective commitment of its 4,500 talented women and men to our markets and investors. I will always be grateful to Chairman Clayton and his fellow Commissioners for this opportunity, as well as to the SEC's expert staff in our home office and eleven regional offices for their encouragement and dedication to our mission. I am proud to have been their colleague.'
Modernizing the Securities Regulatory Framework
During Mr. Memon's time working with Chairman Clayton, the SEC advanced more than 70 final rules across its policy divisions and offices, representing a historically productive rulemaking period for the agency. These rules and other initiatives, many of which modernized rule sets that had not been substantively updated in decades, included:
Promoting Market Integrity Through Effective Enforcement and Examinations
During Mr. Memon's tenure, the SEC's enforcement and examination programs, including its whistleblower program, set a number of annual records.
Enhancing Agency Operations and Advancing Diversity, Inclusion and Opportunity
During Mr. Memon's tenure, the SEC implemented a number of organizational enhancements and advanced initiatives to promote diversity, inclusion and opportunity. For example, the agency:
More detail on the scope of the Commission's work is available here.
Prior to joining the SEC, Mr. Memon practiced law at Sullivan & Cromwell LLP, where he advised clients in regulatory and transactional matters, including with respect to capital raisings, mergers and acquisitions and joint ventures. Mr. Memon also advised companies on matters involving financial technology and the development of new products and services.
Previously, Mr. Memon was a member of the Finance and Acquisitions department at Time Warner Inc., where he worked on long-term business planning efforts and performed quantitative valuation and financial impact analysis for potential new business initiatives and transactions. Prior to Time Warner, Mr. Memon was an analyst in the technology investment banking groups of Raymond James & Associates and Morgan Stanley & Co., where he worked with companies on capital raising activities and mergers and acquisitions.
Mr. Memon received his J.D. and MBA degrees from Duke University and an A.B. in economics from Harvard College.