Washington, D.C., April 20, 2011 – The Securities and Exchange Commission today announced that Julius Leiman-Carbia has been appointed an Associate Director to lead the National Broker-Dealer Examination Program in the SEC’s Office of Compliance Inspections and Examinations (OCIE).
In this role, Mr. Leiman-Carbia oversees a staff of approximately 300 lawyers, accountants and examiners responsible for the inspections of U.S.-based broker-dealers. He succeeds Mary Ann Gadziala, who retired from the SEC in September.
Over the past year, OCIE has undertaken a comprehensive self-assessment that has resulted in a new risk-focused examination strategy and the creation of a new National Exam Program that seeks to ensure greater collaboration with other divisions and offices within the SEC.
“Julius is a great addition to the leadership team of the National Exam Program and brings a wealth of technical expertise and broker-dealer industry experience to this role,” said Carlo di Florio, Director of the SEC’s Office of Compliance Inspections and Examinations. “We are pleased to have such a highly qualified individual join our management team as we continue to make our National Exam Program as effective as possible in its mission.”
Mr. Leiman-Carbia said, “I look forward to working with this talented and dedicated team of examiners, and I welcome the opportunity to use my expertise from the industry to further strengthen the National Exam Program.”
Mr. Leiman-Carbia previously worked at the SEC from 1989 to 1994 as a counsel in the SEC’s then-Division of Market Regulation, specifically in its Office of Capital Markets. Among his experience outside the SEC, he served as Managing Director of the Capital Markets and Banking Compliance Department at Citigroup Global Markets from 2005 to 2009, and held legal and compliance leadership positions at JP Morgan (2004 to 2005) and Goldman Sachs (1995 to 2004). For the past two years, Mr. Leiman-Carbia served as Vice President, Integrated Supply and Trading Compliance for North America for BP Energy Company.
Mr. Leiman-Carbia received his bachelor’s degree from the School of Foreign Service at Georgetown University in 1983, and his law degree from the University of Pennsylvania Law School in 1986.
The SEC’s National Exam Program is recruiting more industry specialists, strengthening risk assessment and surveillance capabilities, streamlining and automating the exam process, and working to establish an examiner certification program and an exam workbook to drive greater consistency, effectiveness and efficiency. These changes will further strengthen OCIE’s mission of promoting compliance with the federal securities laws, monitoring risks at registered entities, preventing fraud, and informing policy.
“We are excited about these changes and believe they will strengthen our ability to protect investors, ensure market integrity, and facilitate capital formation. Taxpayers and the investing public are best served by a program that is highly focused, highly effective, and very efficient in leveraging resources,” Mr. di Florio said.
Other members of OCIE’s new management team are: Norm Champ, the Deputy Director of OCIE; Robert Fishman, the Chief Operating Officer of OCIE; John Polise, the Associate Director of Market Oversight; and Dawn A. Patterson, the Associate Director for the Clearance and Settlement Examination Program.