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"[People] don’t expect retirement to begin with social security and sit on the back deck in a lounge chair for the rest of their lives. This group really wants to remain active."

Jeff Cimini, head of personal retirement at Merrill Lynch

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Robert Plaze, deputy director of investment management at the Securities and Exchange Commission, is to retire at the end of August after almost 30 years at the agency.

The SEC said Plaze has been a “key architect” of the rules governing investment advisors, investment companies, and private fund advisors.

Plaze joined the SEC in 1983 as an attorney within the investment management division, going on to become a special counsel, assistant director, associate director for regulatory policy and, finally, deputy director.

Most recently, he was in charge of rulemaking for money market mutual funds, as well as for implementing a Dodd-Frank Act requirement for hedge fund and other private fund advisors to register with the SEC.

In other moves, last month the agency appointed Norm Champ as director of its investment management division, overseeing the regulation of a multi-trillion dollar industry in the US. Champ succeeded Eileen Rominger, who is also retiring. 

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