Di Florio led the agency's compliance examinations arm since January 2010, and was responsible for restructuring the National Exam Program in the wake of the Bernie Madoff scandal. He is credited with breaking down communications barriers within the office and using technology to automate the exam process.
He goes on to FINRA's new risk and strategy division, and will be responsible for ensuring that the agency can assess the biggest risks facing investors.
Both di Florio and Bowden, who was appointed to deputy director of the SEC's examinations office in September 2012, worked in private practice before joining the agency. Bowden spent 17 years at Legg Mason, and di Florio was a partner at PricewaterhouseCoopers.
“Carlo has been an outstanding leader of the National Exam Program and has made a lasting impact on the SEC by working with his team to comprehensively strengthen the agency’s examination program,” said SEC Chairwoman Mary Jo White in a statement. “Under his leadership, the program recruited experts, implemented risk and quantitative analytics units, deployed new technology and strengthened industry risk governance practices."
She added that Bowden's "dedication, judgment, and leadership will serve him well as he takes on his new post leading an aggressive, effective examination program."
Di Florio will start at FINRA on June 24.