The Securities and Exchange Commission today announced that Martin Murphy, the Associate Regional Director for Examinations in the agency’s Los Angeles office, is retiring today after more than 36 years of public service, including 24 years at the SEC.
As Associate Regional Director for the SEC’s Office of Compliance Inspections and Examinations since 2008, Mr. Murphy has led a team of about 65 accountants, examiners, attorneys, and support staff responsible for examining broker-dealers, investment companies and advisers, and other market participants across Southern California, Arizona, Hawaii, Nevada, and Guam. In conjunction with the Office of the General Counsel, Mr. Murphy also has overseen the agency’s 9th Circuit bankruptcy program.
During this period, Mr. Murphy utilized cutting-edge techniques to help the SEC’s Los Angeles Regional Office uncover serious violations of the securities laws in more than 20 percent of its exams. In addition, under Mr. Murphy’s leadership the Los Angeles exam staff made significant contributions to the agency’s National Exam Program, including participation in specialized working groups and pilot programs to improve examinations and reduce risk.
“Martin has served investors and the Commission effectively and passionately for several decades. He will be sorely missed, but his strong desire to protect investors will continue through the example he set and those he has trained and mentored,” said Drew Bowden, Director of the SEC’s National Exam Program.
Los Angeles Regional Office Director Michele Wein Layne said, “The investing public has been so well-served by Martin’s unfailing dedication to the SEC’s mission of investor protection for nearly three decades in which he made profound contributions to the Los Angeles office’s examination and enforcement programs. Martin’s commitment, professionalism, scholarship, and kindness have been an inspiration to all of his colleagues, and he will be deeply missed.”
Mr. Murphy said, “The National Exam Program protects investors, ensures market integrity, and supports capital formation through risk-focused exams that improve compliance, prevent fraud, inform policy, and monitor risk. I am grateful for the opportunity to have worked with dedicated and outstanding colleagues in the Commission’s enforcement, exam, and bankruptcy programs to serve the public.”
From 2004 to 2008, Mr. Murphy served as Assistant Regional Director in the Los Angeles office’s broker-dealer examination program. He previously served as a Branch Chief in the Division of Enforcement after beginning his career with the SEC as an Enforcement staff attorney in 1990. During his tenure in Enforcement, Martin investigated and supervised numerous significant matters including the Gemstar-TV Guide International case involving financial reporting fraud, and the Capital Consultants/Jeffrey Grayson case involving investment adviser fraud.
Prior to joining the Commission, Mr. Murphy was a Special Assistant U.S. Attorney and also a pharmacist. Mr. Murphy has a J.D. degree from Loyola Law School in 1987, a bachelor’s degree from University College Dublin, an M.B.A. from Harvard Business School, and a Pharm.D. as well as master’s degrees in accounting and taxation from the University of Southern California. Mr. Murphy will continue pursuing his M.A. in theology at Loyola Marymount University.
Karol Pollock, the Los Angeles office’s Deputy Associate Director for Examinations, will serve as Acting Director for the office’s examination program until Mr. Murphy’s successor is named.
The SEC’s Office of Compliance Inspections and Examinations conducts the national examination program for investment advisers/investment companies, broker-dealers, self-regulatory organizations, clearing agencies, transfer agents and municipal advisors to fulfill its mission of promoting compliance, preventing fraud, monitoring risk, and informing SEC policy.