(Bloomberg) — The Securities and Exchange Commission's top compliance official, who led the agency's charge into regulating private-equity funds and chided their managers for charging improper expenses, is leaving next month.
Drew Bowden, 53, will return to the private sector, the SEC said in a statement Tuesday without specifying his employment plans. He has led the SEC's Office of Compliance, Inspections and Examinations since June 2013.
Bowden made waves last year when he unveiled scathing findings from a broad sweep of the private-equity industry, saying the agency had found improper fees or major compliance failures in more than half of the firms it inspected. Some firms including Blackstone Group LP are now disclosing fees that had largely been hidden prior to Bowden's May 2014 speech.
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