Source: Securities and Exchange Commission
Washington D.C., Oct. 7, 2020 —
The Securities and Exchange Commission today announced that Nichola L. Timmons has been named Chief of the newly-formed Office of Bankruptcy, Collections, Distributions, and Receiverships in the Division of Enforcement.
This new office will centralize existing functions to continue to achieve efficiencies and maximize results for investors. Among other things, the office will oversee the process through which the SEC collects outstanding monetary judgments, both in district court and bankruptcy proceedings, and returns money to harmed investors through distributions and the work of court-appointed receivers. As Chief of the office, Ms. Timmons will oversee the bankruptcy, collection, distribution, and receivership functions and the staff currently dedicated to those functions.
Since 2018, Ms. Timmons has served as Supervisory Trial Counsel, leading the SEC’s distribution function. Prior to this, Ms. Timmons was Assistant Director of Distributions, Logistics, and Services from 2013 to 2018, Assistant Chief Litigation Counsel in the Office of Distributions from 2011 to 2013, and Assistant Chief Litigation Counsel in the Office of Collections and Distributions from 2008 to 2011. Ms. Timmons joined the SEC as a staff attorney in 1998.
During her career with the SEC, Ms. Timmons has overseen numerous complex investigations and litigated matters related to distributions, collections, and receiverships, and is the agency’s expert in distribution matters. Ms. Timmons spearheaded the centralization of the SEC’s distribution function, building expertise and improving speed and efficiency in the distributions process. This focus resulted in the SEC returning over $3.6 billion to harmed investors over the past four years.
“Nichola is a strong leader who is widely respected across the Division and I am thrilled to welcome her into the Division’s senior leadership,” said Stephanie Avakian, Director of the SEC’s Division of Enforcement. “I am confident she will do an excellent job creating and leading this new office and that with her leadership we will achieve even greater results for investors.”
Ms. Timmons said, “I am grateful for this opportunity and excited to be leading a team of highly talented and dedicated staff in the areas of bankruptcy, collections, distributions, and receiverships. I look forward to continuing to advance the SEC’s mission of investor protection by ensuring funds are preserved, collected, and distributed to harmed investors in a fair and efficient manner.”
Ms. Timmons earned her bachelor’s degree magna cum laude in sociology from Wake Forest University in 1992, her master’s degree in sociology from Northwestern University in 1994, and her law degree from the Georgetown University Law Center in 1998.