Securities and Exchange Commission Chairman Christopher Cox announced that Wall Street fund lawyer Andrew "Buddy" Donohue will join the agency as the next director of the Division of Investment Management.

"Buddy brings invaluable expertise and three decades of experience with mutual fund regulation to our investor protection mission," Cox said in a statement. "His knowledge will help ordinary American investors get the information they need. I know that he is committed to promoting effective mutual fund governance, sturdy compliance and plain-English information for mutual fund and ETF purchasers."

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