Sara P. Crovitz

Sara Crovitz

Overview

Sara Crovitz provides counsel on all aspects of investment company and investment adviser regulation. Sara is also part of a team serving as counsel to independent trustees of a number of business development companies and closed-end funds.

Prior to joining Stradley Ronon, Sara was Deputy Chief Counsel and Associate Director at the U.S. Securities and Exchange Commission in Washington, DC. She worked at the SEC for 21 years, including 17 years in the Division of Investment Management focusing on issues under the Investment Company and Investment Advisers Acts of 1940. While in the Division, she supervised the provision of significant legal guidance to the investment management industry through no-action and interpretive letters, exemptive applications, IM guidance updates, and other written and oral means.

Sara helped develop key positions on many areas of importance, including:

  • Clean shares
  • MiFID II
  • Auditor independence
  • Investment company and investment adviser custody
  • Investment company and investment adviser status
  • Fund governance
  • Affiliated transactions

For many years, Sara also led the Division's international efforts, including numerous IOSCO and FSB work streams, along with more recent MiFID II guidance. She spoke on panels for the International Bar Association and the Investment Company Institute. Sara also worked extensively to provide investment management-related guidance to other SEC Divisions and Offices, including Enforcement, Trading and Markets, Corporation Finance, OCIE, General Counsel and International Affairs.


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Credentials

Bar Admissions
  • District of Columbia
Education
  • J.D., University of Chicago Law School
  • B.A., University of Chicago

Publications

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News

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Speaking Engagements

  • Panelist, “Proxy Voting: Funds as Investors and Issuers,” Independent Directors Council’s Fund Directors Conference
  • Panelist, “SEC Proxy Guidance for Investment Advisers,” Investment Adviser Association Webinar
  • Presenter, Investment Adviser Association's Compliance Workshop
  • Presenter, “What Directors Need to Know about Regulation Best Interest and the Standards of Conduct Rulemaking Package,” Mutual Fund Directors Forum
  • Moderator, “Offshore Regulatory Update,” Practising Law Institute’s Global Asset Management 2019
  • Panelist, “Regulation Best Interest and Other New SEC Standards of Conduct: Impact on Broker-Dealers, Investment Advisers and Investment Companies,” Strafford Webinar
  • Panelist, “Mutual Funds and Governance Issues for Regulated Funds,” International Bar Association’s Annual Conference
  • Panelist, “The Polls Are Open: Reexamining SEC Proxy Voting Requirements,” Investment Company Institute’s Mutual Funds and Investment Management Conference
  • Panelist, “Regulatory Developments and Compliance Challenges Facing SEC-Regulated Private Funds,” Practising Law Institute’s Private Fund Regulatory Developments and Compliance Challenges Conference
  • Panelist, “EU/Offshore Regulatory Update,” Practising Law Institute’s Global Investment Funds Program
  • Presenter, Chicago Chief Compliance Officer Roundtable
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Recognition

  • Chair’s International Award, which honors dedication, professional competence and ingenuity in work to facilitate convergence of international regulatory standards
  • Chair’s Excellence in Leadership Award, which recognizes supervisors who achieve high leadership goals
  • Martha Platt Award, the Division’s highest honor in recognition of exceptional dedication, professional excellence and personal integrity
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