(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.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.