FOR IMMEDIATE RELEASE

2018-80

The Securities and Exchange Commission today announced that Jessica Kane has been named the Director of the agency’s Office of Credit Ratings, where she has served as Acting Director since September 2017.

The Office of Credit Ratings is responsible for oversight of nationally recognized statistical rating organizations (NRSROs). The office conducts annual examinations of NRSROs and works to ensure that credit ratings are not unduly influenced by conflicts of interest and that NRSROs provide greater transparency and disclosure to investors.

“Jessica’s strong leadership, dedication, and diverse experience at the SEC will serve her well in this role,” said Chairman Jay Clayton. “The Office of Credit Ratings is integral to the SEC’s mission and plays an important role in ensuring that NRSROs meet their obligations, investors are well informed, and our markets function effectively.”

“I am honored to continue leading the Office of Credit Ratings and working with the talented and dedicated staff in this office and across the agency,” said Ms. Kane. “I look forward to continuing to work with Chairman Clayton, the Commissioners, and the staff to ensure effective oversight of NRSROs.”

Before joining the Office of Credit Ratings, Ms. Kane was Director of the SEC’s Office of Municipal Securities, which administers SEC rules on participants in the municipal securities market and coordinates with the Municipal Securities Rulemaking Board (MSRB) on rulemaking and enforcement. Key initiatives advanced under Ms. Kane’s leadership include the implementation of SEC municipal advisor registration rules and a new regulatory regime for municipal advisors; Commission approval of MSRB rules on best execution and mark-up disclosure; and a Commission proposal to improve municipal securities disclosure regarding certain financial obligations incurred by issuers and obligated persons.

Ms. Kane joined the SEC in 2007 and spent five years in the Division of Corporation Finance before moving to the Office of Legislative and Intergovernmental Affairs. She later served as Deputy Director and Senior Special Counsel to the Director of the Office of Municipal Securities.

Ms. Kane graduated with honors from Georgetown University, where she received her B.A. degree in English, with a minor in Economics. She holds a J.D. degree from George Mason University School of Law, where she was Executive Editor of the Civil Rights Law Journal.