Shelley Parratt Named Acting Director of SEC's Division of Corporation Finance

FOR IMMEDIATE RELEASE
2009-3

Washington, D.C., Jan. 5, 2009 — Securities and Exchange Commission Chairman Christopher Cox announced today his appointment of Shelley E. Parratt to serve as Acting Director of the Division of Corporation Finance. Ms. Parratt replaces John W. White, who left the Commission last week to return to private practice.

Ms. Parratt has served as Deputy Director of the Division since 2003, and has been responsible for overseeing the disclosure review program, assisting in strategic planning, and developing Division policies and procedures. Among her many accomplishments in this position:

• Led the Division in revamping its disclosure review program to meet its mandate under the Sarbanes-Oxley Act to review on a regular and systematic basis the disclosures of the approximately 12,000 reporting companies the Division oversees.
• Oversaw the Division's review projects on IFRS and executive compensation disclosure and subsequent staff reports on these reviews.
• Developed and implemented a procedure to make publicly available the staff comment letters and company responses related to Division reviews of filings.
• In response to recent market events, led the Division in issuing staff guidance for financial institutions filing proxy statements in connection with the TARP Capital Purchase Program, as well as "Dear CFO" letters providing guidance on MD&A disclosure issues for companies' consideration.

Ms. Parratt also has served in a number of other senior positions during her tenure with the Division, including Associate Director, Assistant Director, and Branch Chief.

Chairman Cox said, "Shelley Parratt will be a strong leader during this especially busy time for the Division of Corporation Finance. Her expertise, solid judgment, and long experience in serving America's investors and the SEC's registrants will ensure that the Division remains in capable hands. The SEC and the nation's investors are very fortunate to have her in this important position."

Ms. Parratt joined the Division of Corporation Finance as a Financial Analyst in 1986. She received her MBA from Syracuse University in 1985 and received her BA from St. Lawrence University in 1982.

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