BOSTON | Tue Aug 17, 2010 5:22pm EDT
BOSTON Aug 17 (Reuters) - The Securities and Exchange Commission's top mutual fund regulator, Andrew Donohue, will step down in November, the agency said on Tuesday.
Donohue, 59, has served as head of the division of investment management since April, 2006.
In that role, he helped oversee new rules for the fund industry in the wake of the the 2008 credit crash. Donohue worked on tighter rules governing money market funds, clearer prospectus disclosure requirements and a proposal to limit recurring marketing fees charged by many funds.
Donohue previously had served as general counsel at Merrill Lynch's asset management unit and at OppenheimerFunds.
"We are grateful for his practical insights and innovative guidance, and thank him for his tremendous commitment to public service," SEC chairman Mary Schapiro said in a statement.
(Reporting by Aaron Pressman; editing by Carol Bishopric)
From Reuters, published on Tue Aug 17, 2010 5:22pm EDT