Carlo di Florio has been named director of the Securities and Exchange Commission's Office of Compliance Inspections and Examinations.
Previously a partner at PricewaterhouseCoopers in New York, di Florio will oversee the SEC's nationwide examination programs for investment advisers, broker-dealers, mutual funds, credit rating agencies and self-regulatory organizations.
The compliance office, which was created in 1995, has borne much of the blame for failing to detect Bernard Madoff’s Ponzi scheme. The previous head, Lori Richards, resigned in July 2009. Associate director-chief counsel John Walsh has been serving as acting director.
“I’m excited to collaborate with an outstanding team of talented and dedicated professionals across the country as we work together to strengthen our examination strategy, structure, training programs, processes and systems, while also recruiting colleagues with valuable new skill sets, including trading strategies, risk management and quantitative analytics,” di Florio said in a statement.
At PricewaterhouseCoopers, according to the SEC, he played a leading role in strengthening the corporate governance, risk management and regulatory compliance practice and defining new industry standards, including the Committee of Sponsoring Organizations of the Treadway Commission’s enterprise risk management standard and the Open Compliance and Ethics Group guidelines.
He holds an LLM from Georgetown University Law Center and a JD from Penn State University.