Amid historic market turbulence and the unfolding of controversial regulations, the Securities and Exchange Commission's division of trading and markets is undergoing a major reorganization that will shift the responsibilities of top officers.
The SEC has been searching for a second deputy director to join Robert Colby in the division since November, around the time it changed its name from the division of market regulation. The new name as well as the new position--unfilled as of last week--reflect legislative and market changes that have expanded the outfit's scope. However, even with a wider mandate, bringing on another deputy director by definition divides the deputy-level responsibilities.
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