David Grim provides counsel on all aspects of investment management law. Dave assists clients with a unique perspective developed during his over 20 years of public service in the U.S. Securities and Exchange Commission’s Division of Investment Management, including his time as one of only a small number of people who has served as the top regulator of the asset management industry. He currently serves as partner-in-charge of the firm’s Washington, D.C., office.
Dave joined the Division of Investment Management in 1995 directly from law school and rose to become its leader. He developed regulatory policy and legal guidance for investment advisers and investment companies, including mutual funds, exchange-traded funds, closed-end funds, variable insurance products, unit investment trusts and business development companies. Prior to his appointment as Director, Dave served in a number of capacities throughout the Division, including Deputy Director and Assistant Chief Counsel.
Dave’s responsibilities at the SEC included:
- advising the Commission on a range of rulemakings, including liquidity risk management, data reporting, derivatives and money market funds
- overseeing the Division’s relationships with other key functions at the SEC, including the Division of Enforcement and the National Exam Program
- issuing no-action letters and other guidance on a variety of transactional, compliance and regulatory matters, such as board oversight responsibilities, the compliance rules, cybersecurity, robo-advisers and fiduciary duty