SEC Announces Leadership Transition in Corporation Finance Division

WASHINGTON, D.C., December 13, 2024 – The U.S. Securities and Values Commission (SEC) announced the departure of ​Erik ​Gering, Director of ​the Finance ​Division of the Corporation, ​effective ​December 31, 2024. ​Cicely ​LaMothe, an experienced head of the Division, will assume the role of acting director when he leaves. This change in leadership underscores the SEC’s continued commitment to strengthening ​corporate governance and investor confidence in markets.

ESA President Gary Gensler congratulated Mr. Gerding on ​saying: “During his service, we ​have adopted important corporate governance reforms to better promote ​market confidence. Gering’s mandate included key strategic initiatives, such as the dissemination of climate-related ​information, cybersecurity ​risk management, and transparency of executive compensation. He joined ​the SEC in October 2021 and became director in ​February 2023, leading the division through one of ​the most dynamic periods of financial market regulation.

Under Mr Gerding’s leadership, the SEC has implemented rules that deal ​with reporting ​on beneficiary assets, ​indirect universal voting, bad pay ​slugs and conflicts of interest in securitisation. Their efforts have ​also extended ​to senior management approval statements on performance pay ​and to improving Rule 10b5-1 to mitigate business risks in Canada. Reflecting his mandate, Gerding said: “I ​am humiliated for being part of what I consider to ​be the jewel of the agency. »

Gering’s professional inheritance

Prior ​to joining the ​SEC, Mr. Gerding was a professor of law ​and a member of Wolf-Nichol ​at the University of Colorado Law School, specializing in securities law and financial regulation. He taught at the University of New Mexico ​and practiced law in an ​eminent international firm, ​advising clients on financial and regulatory issues. Gerding holds a degree from ​Duke University and Harvard Law School, highlighting his deep expertise in corporate and ​securities law.

Cicely LaMothe: Acting Incoming Director

Cicely LaMohe ​brings extensive experience to ​his new role as acting director. As ​Deputy Director ​of Outreach Operations, he ​followed critical processes for reviewing the dissemination of information and led efforts on diversity ​and inclusion within ESA. Among ​her previous duties, LaMothe includes the Director of the Outreach Review Program and the Associate Director of Outreach ​Operations. In 2020, he received the ​SEC President’s Award of Excellence for his contribution to the organization’s diversity initiatives.

Before ​joining the ​ESA, Ms. LaMothe worked in the private sector as a manager of financial information and a high-level partner with a national accounting company. She ​graduated in accounting from Hampton University and is a certified public ​accountant, with a unique combination of normative and practical industry ​experience ​in her new position.

ESA continued its approach to ​investor protection

The transition takes place as ESA intensifyes its efforts to improve ​transparency and accountability in financial ​reporting. Mr. Gerding’s efforts to ​improve climate risk disclosure standards, ​cyber ​security and executive compensation are consistent with ESA’s broader mission of protecting investors and promoting market integrity. The appointment of Cicely ​LaMothe should ensure the continuity ​of these regulatory priorities.

President Gensler expressed his confidence ​in Ms. LaMothe’s leadership, saying: “I would like to thank Cicely for increasing ​her position ​as Acting Director ​and for being a long-standing leader in the Division. Its history of operational excellence and commitment to ​diversity reflects ESA’s evolving approach to promoting inclusive ​and ​transparent financial markets.

As ESA moves through this transition to ​leadership, it continues to address new corporate governance challenges and ensure ​that market participants meet the highest standards of awareness ​and accountability. Investors, businesses and policy makers will closely monitor how the Corporation’s Finance Division continues to adapt to an increasingly changing regulatory environment ​under the interim direction of Ms. LaMothe.