SEC Names Officer in Compliance Inspections and Examinations


The Securities and Exchange Commission (SEC) hired Paula Drake as an associate director in its Office of Compliance Inspections and Examinations (OCIE).



Drake is to serve as chief counsel, and chief compliance and ethics officer of the OCIE, where she will oversee eight lawyers and coordinate the efforts of attorney advisers in the SEC’s 11 regional offices. Her new position begins August 6.

Drake most recently was general counsel and chief operating officer at Oechsle International Advisors LLC, where she was involved in all aspects of the investment management business, including registering investment advisers, and establishing risk and compliance programs. She has extensive experience managing litigation, regulatory relationships, examinations, audits and internal investigations, and recently completed eight years as a member of the Board of Governors of the Investment Advisers Association.

Before joining Oechsle, Drake was an attorney with the law firm of Ropes & Gray, as well as at Fidelity Investments. She is a graduate of Harvard Law School and received a bachelor of arts degree and Ph.D. in English from the University of Massachusetts.

“Paula adds extensive legal, business and industry experience and expertise,” said Carlo di Florio, OCIE’s director. “She will help us with the continued advancement of the national examination program, including leading the critical legal function, developing our national examination policy manual, and overseeing our internal compliance team.”

OCIE conducts the SEC’s national examination program for investment advisers and investment companies, broker/dealers, self regulatory organizations, clearing agencies and transfer agents to fulfill its mission of promoting compliance, preventing fraud, monitoring risk and informing SEC policy.