On May 2, 2013, The Securities and Exchange Commission announced that Andrew J. Bowden has been named Director of the agency’s Office of Compliance Inspections and Examinations and will lead its National Exam Program.  The National Exam Program conducts inspections and examinations of SEC-registered investment advisers, investment companies, broker-dealers, self-regulatory organizations, clearing agencies and transfer agents.  See “Is This an Inspection or an Investigation? The Blurring Line Between Examinations of and Enforcement Actions Against Private Fund Managers,” Hedge Fund Law Report, Vol. 5, No. 13 (Mar. 29, 2012).