Paul Atkins, chairman of the US Securities and Exchange Commission (SEC), appointed a key member of his leadership team on Wednesday to head the department responsible for reviewing corporate IPOs and company disclosures. The SEC announced that James Moloney, a partner at Gibson Dunn, will take over as head of the SEC's corporate finance division next month. Moloney previously served at the SEC from 1994 to 2000, where he was responsible for mergers and acquisitions as well as work related to the corporate finance division. The corporate finance division is responsible for reviewing financial reports submitted by companies, ensuring that potential risks are fully disclosed to investors. The department also issues guidance on how to comply with SEC rules, such as disclosure of executive compensation, or reporting requirements for non-GAAP earnings metrics. Moloney stated, "There is a lot of work ahead, and I look forward to returning to the corporate finance division to work with colleagues to develop wise, practical, and effective regulatory rules to support business development and benefit investors."