Lori Richards, a seasoned professional in the world of finance, has held various key positions, including as an Enforcement Attorney and Director at the Securities and Exchange Commission, Principal at PwC, and Chief Compliance Officer at JPMorgan. In each of these roles, her work directly resulted in meaningful and demonstrable improvements in industry compliance, and better protections for investors
In a career spanning overt three decades, her impact and achievements are significant. p In addition to her professional life, She has a strong commitment to community service, and to making a positive and sustained impact in people’s lives
Current Roles and Career History
Director, Securities, and Exchange Commission
Her tenure at the Securities and Exchange Commission (SEC) was marked by 24 years of robust regulatory oversight For nine years, she served as an attorney and later Associate Regional Director, investigating and prosecuting securities fraud cases in the Division of Enforcement in Los Angeles. She subsequently served as Chief of Staff to SEC Chairman Arthur Levitt Then named the first Director of the SEC's Office of Compliance Inspections and Examinations (OCIE), she led the SEC’s nationwide examination oversight program for advisers, mutual funds, hedge funds, broker-dealers, stock exchanges and other industry firms for 14 years Her work resulted in significant improvements in compliance by all types of regulated firms, and led to many new reforms for the protection of investors.
Principal, PwC
After the SEC, She transitioned to the private sector and became a Principal at PricewaterhouseCoopers. There, she specialized in regulatory compliance matters and helped a wide variety of financial services clients implement risk management programs, understand and prepare for new regulatory requirements, and be in compliance with federal securities laws
Chief Compliance Officer, JPMorgan
Joining JPMorgan Chase & Co in November 2013, She became the first Chief Compliance Officer for the Asset and Wealth Management global lines of business. She led its e global
compliance program - - identifying and advising business leaders on compliance issues, overseeing risk assessment, monitoring, testing and training, and maintaining regulatory relationships She also served concurrently as Conflicts of Interest Officer for the firm, implementing a protocol for the identification and resolution of conflicts of interest across the company.
Board Roles
She has served and is serving as a board member of companies in emerging industries (including as Chair of a strategy, finance and audit committee); on the board of a rural Appalachian community college and its finance committee; on FINRA’s National Adjudicatory
Council (as Vice-Chair and Chair); on the board and Secretary of the SEC Historical Society; and in various roles of political advocacy organizations.
Academic Background
Richards holds a law degree from American University's Washington College of Law and a Bachelor of Arts degree in Political Science from Northern Illinois University, which included a semester at Oxford University
Involvement in Community
Her commitment to community service is deeply held and based on a simple desire to make a difference.
She is committed to migrant and immigrant well-being, including directly through a Catholic mission in Texas, and by establishing a University scholarship program for Hispanic and Black first-generation college students at Northern Illinois University
She is passionate about helping create opportunities for people in rural areas In Mountain Maryland, she established a non-profit program providing free transportation for seniors to local senior centers, called “Seniors on the Move ” She also established and runs a non-profit program providing scholarships for students with financial need to learn to drive and better access life opportunities, called “Garrett County New Drivers: Lets Drive.” Believing that education creates paths to success, She serves on the Foundation board of Garrett College, which provides academic education and vocational training
Professional Accomplishments and Awards
She has been at the forefront of securities regulatory compliance and her articles and speeches have been widely published. She has received numerous SEC and federal government awards, including the Sporkin Enforcement Attorney Award, Chairman’s Awards of Excellence, and the Presidential Rank Award, as well the National Society of Compliance Professionals’ Hinchman Award…
She was the first Director of the SEC’s Exam program, pioneering the focus on problem solving and compliance as a profession, and leading to significant improvements in industry compliance for the protection of investors She was the first e Chief Compliance Officer of one of the largest global asset and wealth management firms in the world.
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Interests
She is actively interested in ways to make an impact through not-for-profit endeavors. Another interest is Italian Renaissance art, a course of study that likely will never be completed, and that requires ongoing travels to Italy
Areas of Expertise
Lori Richards is an early proponent of the critical importance of securities compliance, risk management and good governance within the global regulatory environment. While her expertise includes legal and fiduciary obligations, it extends more broadly to being able to find innovative solutions and practical tools to address and solve problems of all types Her experience and community service demonstrates the value and impact of this expertise. .
