The Securities and Exchange Commission has named Jeffrey Harris as director of the agency's Division of Economic and Risk Analysis (DERA). He replaces former director Mark Flannery, who left the agency to return to teaching.
DERA was created in 2009 to integrate financial economics and rigorous data analytics into the core mission and operations of the SEC. As director, Harris will lead DERA’s team of experienced economists as they are involved across the entire range of SEC activities, including policy, rule-making, enforcement, and examination.
Harris is currently a professor and the Gary D. Cohn Goldman Sachs Chair in Finance at Kogod School of Business at American University in Washington, D.C.. He has an extensive background in market micro-structure and regulatory issues. He recently served as Chief Economist at the Commodity Futures Trading Commission, with prior experience as Visiting Academic at the Nasdaq Stock Market and at the SEC.
DERA relies on a variety of academic disciplines, quantitative and non-quantitative approaches, and knowledge of market institutions and practices to help the Commission approach complex matters and conduct economic analysis in a fresh light. DERA also assists in the Commission's efforts to identify, analyze, and respond to risks and trends, including those associated with new financial products and strategies. Through the range and nature of its activities, DERA serves the critical function of promoting collaborative efforts throughout the agency and breaking through silos that might otherwise limit the impact of the agency's institutional expertise.