Today, the Securities and Exchange Commission (SEC) made the announcement that Silvestre A. Fontes will begin his new role as Regional Director of the SEC’s office in Boston the following week.
John Dugan and Kevin Kelcourse, who have been serving as Acting Co-Regional Directors, will continue to serve as Associate Regional Directors of the office’s Enforcement and Examinations programs, respectively. Both men will continue to serve in their current capacities.
Silvestre A. Fontes as the Regional Director of the SEC’s office in Boston
After 13 years of service in the enforcement program of the Boston Regional Office, Mr. Fontes ascended the ranks to become the Assistant Regional Director of that office before leaving the agency in 2011. In addition to his work as the first supervisor of the Market Abuse Unit in the Boston office, Mr. Fontes was involved in a number of high-profile investigations and legal cases.
Since 2012, Mr. Fontes has held the position of Chief Compliance Officer at Bracebridge Capital LLC, a firm that advises clients on the management of private funds and is based in Boston.
It gives me great pleasure to announce Silvestre’s return to the SEC, as well as to the regional office that he is so familiar with. According to Gary Gensler, Chair of the SEC, “He brings a wealth of experience to our Boston Regional Office.”
I would also like to thank John Dugan and Kevin Kelcourse for serving as Acting Co-Directors of the office and for their continued work respectively as the office’s Associate Regional Directors for Enforcement and Examinations,” she said. “I am grateful to both of you for your service.”
Gurbir S. Grewal, the Director of the SEC’s Division of Enforcement, expressed his excitement about Silvestre’s return to the agency, saying, “I am thrilled to welcome Silvestre back to the SEC.” “His experience in leadership roles in the Enforcement Division and in the financial services industry will serve him well in leading our Boston office in its efforts to advance the mission of the Commission,” said the Commission. “His experience in leadership roles in the financial services industry includes serving as a compliance officer for a major bank.”
The Director of the SEC’s Division of Examinations, Richard R. Best, referred to Silvestre as an exceptional leader with significant experience in securities litigation and compliance. “Silvestre is an exceptional leader with significant securities litigation and compliance experience,” he said. “I am very excited about him joining our leadership team so that he can guide the talented staff that works on the examinations program in the Boston office.”
Mr. Fontes was quoted as saying, “I am humbled to lead an incredible team of public servants dedicated to strengthening compliance and enforcing the nation’s federal securities laws in order to protect investors.”
Mr. Fontes will lead a staff of more than 180 attorneys, accountants, investigators, securities compliance examiners, and other personnel involved in the prosecution of enforcement actions and performance of compliance examinations across the states of Connecticut, Maine, Massachusetts, New Hampshire, Vermont, and Rhode Island in his role as Regional Director. These states include Rhode Island, Vermont, and New Hampshire.
Mr. Fontes was in charge of managing the regulatory compliance program at Bracebridge Capital, where he worked as the leader of a team of professionals responsible for the program. Prior to that, he was the Chief Compliance Officer of several Wellington Management Company regulated entities and a Director in PricewaterhouseCoopers’ Financial Services Regulatory Practice.
In addition, he has worked for Wellington Management Company. Earlier in his career, Mr. Fontes held positions as an associate at Choate, Hall & Stewart LLP and Ropes & Gray LLP. He also worked as a clerk for the Honorable Norma L. Shapiro of the United States District Court for the Eastern District of Pennsylvania.
He received his bachelor’s degree from Boston College, his master’s degree from the University of Chicago, and his law degree with honors and highest distinction from the University of Pennsylvania, where he also served as an editor for the University of Pennsylvania Law Review.
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