Caroline Crenshaw

During her tenure at the SEC, Caroline served in senior leadership, policy, examination, and advisory roles across the agency. As one of five presidentially appointed and Senate-confirmed commissioners, she participated in the Commission's policy, enforcement, and rulemaking functions as it oversaw more than $150 trillion in U.S. securities markets. Her work addressed regulatory issues with implications for public companies, financial institutions, investment advisers, broker-dealers, investment companies, and other market participants.

Before becoming a Commissioner, Caroline held several positions within the SEC, including in the Division of Exams (previously the Office of Compliance Inspections and Examinations), the Division of Investment Management, and as counsel to two commissioners. Her work encompassed securities law and compliance, regulatory examinations, rulemaking, enforcement matters, and interagency and industry engagement. She advised on matters ranging from market structure rules, the Consolidated Audit Trail, and Regulation Best Interest to executive compensation rules, public company disclosures, and the proxy system. In addition to trading and markets and public company work, Caroline counseled on rules related to investment company liquidity, derivatives, exchange-traded funds, and fiduciary obligations. She advised on enforcement matters, waiver requests, and examinations of broker dealers and investment advisers. Caroline's SEC experience also included advising on the agency's oversight of Self-Regulatory Organizations (SROs), including exchanges, the Financial Industry Regulatory Authority (FINRA), and the Public Company Accounting Oversight Board (PCAOB), including their activities and examination programs.

Earlier in her career, Caroline represented public companies and their officers and directors, insurance companies, broker-dealers, and investment advisers in securities investigations and enforcement matters involving the SEC, FINRA, and state regulatory authorities. She also advised financial institutions on federal regulatory compliance and internal investigations.

Caroline served as a major in the U.S. Army Reserve Judge Advocate General's (JAG) Corps, where she provided legal assistance and counsel to military personnel on administrative law, military justice, and general legal matters.