SEC hires first ever ombudsman

The Securities and Exchange Commission announced Friday that it has hired its first-ever ombudsman.

Tracey McNeil, who has spent three years as senior counsel in the SEC’s Office of Minority and Women Inclusion (OMWI), will help retail investors resolve problems they might have with the agency or self-regulatory organizations in her new job. 


She will start Sept. 22.

McNeil will report to Rick Fleming, the first head of the SEC’s Office of the Investor Advocate.  

“Investors will soon discover that Tracey McNeil is a person who cares deeply about their concerns,” Fleming said.  

“In addition, her strong securities law background, solid legal and analytical skills, sound judgment, and well-established relationships with other offices and stakeholders will serve us well as we move forward in fulfilling our statutory mandate.”

She also will establish safeguards to maintain the confidentiality of communications with investors.

The Dodd–Frank Wall Street Reform and Consumer Protection Act called for the creation of the office and required the appointment of an ombudsman.  

Prior to joining OMWI in 2011, McNeil spent three years in the division of corporation finance, where she worked to ensure that investors were given adequate disclosure.

Before joining the SEC staff, McNeil was an associate on the structured finance team at Hunton & Williams and counsel in the U.S. businesses group at MetLife.