Richard Best will become acting director of the Division of Examinations at the Securities and Exchange Commission (SEC), following the announced departure of Daniel Kahl on Thursday.
Best, who joined the SEC in 2015, is currently head of the agency’s New York office. He previously led regional offices in Atlanta and Salt Lake City and once held supervisory and investigative positions at the Financial Industry Regulatory Authority and Office of the Bronx County (N.Y.) District Attorney.
Kahl, who departs the SEC after more than 21 years, has served as acting director of the Division of Examinations since August, when he replaced Peter Driscoll. Before being named acting director, Kahl had been deputy director of the division since 2018 and previously led the SEC’s Division of Investment Management’s Office of Investment Adviser Regulation.
Kahl, in a press release, called his tenure at the SEC “a privilege,” adding, “I am proud of the accomplishments of the examination program and on investment adviser policy.”
The release did not say when Kahl will leave and Best will take over as acting head.
“I am grateful to Dan for his 20-plus years of service at the SEC,” stated SEC Chair Gary Gensler. “Our examinations program is so crucial to the SEC’s work to protect investors, and we have benefited from Dan’s leadership, professionalism, and collaboration.”
Lara Shalov Mehraban, who has served as associate regional director for enforcement at the SEC’s New York branch since 2015, will assume the role of acting director at the office. Prior to joining the SEC, she was an associate at two New York law firms and clerked for the Honorable Michael Daly Hawkins of the U.S. Court of Appeals for the Ninth Circuit.