Peter Driscoll, director of the Securities and Exchange Commission's Exam Division, said Wednesday that he'd depart the agency effective Aug. 14.
Daniel Kahl, the division's deputy director, will be named acting director upon Driscoll's departure.
"I thank Dan for stepping into the role of Acting Director of the Division of Examinations," said SEC Chairman Gary Gensler in a statement. "Dan is an accomplished and respected leader at the SEC, and I look forward to working closely with him. I also thank Pete for his many valuable contributions to the SEC over his nearly two-decade career with the agency. I wish him the best of luck going forward."
Driscoll, who led the exam division and its predecessor Office of Compliance Inspections and Examinations, or OCIE, since January 2017, leaves the agency as it now conducts Phase 2 Regulation Best Interest exams.
Driscoll said in late May that Phase 2 exams are still in the "early stages," but "these are much more in-depth exams." Speaking at the Financial Industry Regulatory Authority's virtual annual conference, Driscoll said that the Phase 2 Reg BI exams are "looking at a lot of the trading, a lot of the recommendations" being made.
