Douglas Scheidt, Associate Director and Chief Counsel in the Division of Investment Management, to Leave Agency After 32 Years of Public Service

The Securities and Exchange Commission announced today that Douglas Scheidt, an Associate Director and the Chief Counsel in the Division of Investment Management, will retire from the SEC at the end of September. Mr. Scheidt has led the Division’s Chief Counsel’s Office for over 21 years. During his tenure, Mr. Scheidt has provided legal and policy guidance for the $82 trillion asset management industry on a wide variety of matters, with a focus on regulatory compliance and the duties of fund directors and investment advisers, including valuation, distribution, fiduciary duty, fund governance, affiliated transactions and portfolio management, under the Investment Company Act and the Investment Advisers Act.