Senior lawyer returns to the US SEC to lead IPO and information disclosure review departments

U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins appointed a key member to his leadership team on Wednesday to head the department that reviews IPOs and corporate disclosures. The SEC said that James Moloney, a partner at Gibson Law Firm, will become the head of the SEC's Corporate Finance Division starting next month. Moloney worked at the SEC from 1994 to 2000, successively overseeing mergers and acquisitions and related work in the Corporate Finance Division. The Corporate Finance Division is responsible for reviewing financial reports submitted by companies to ensure that companies fully disclose potential risks to investors. The department also issues guidance on how to comply with SEC rules, such as executive compensation disclosures or reporting requirements for non-GAAP profit indicators. Moloney said in a statement: "There is a lot of work ahead, and I look forward to returning to the Corporate Finance Division and working with my colleagues to develop smart, pragmatic and effective regulatory rules to help companies grow and benefit investors."