The Securities and Exchange Commission today announced that Lori H. Price will serve as Acting Director of the Office of Credit Ratings (OCR). Ms. Price replaces Ahmed A. Abonamah, who is leaving the agency at the beginning of February to serve as Chief Financial Officer for the City of Cleveland.

“Lori’s combined 30 years of experience with the agency will serve her well in this important role,” said SEC Chair Gary Gensler. “I look forward to working with her on the oversight of credit rating agencies. I thank Ahmed for his leadership of OCR and wish him well.”

Ms. Price joined OCR in August 2020. She previously served in the SEC’s Office of the General Counsel (OGC) in several roles of increasing responsibility, most recently as Associate General Counsel, where she and her team were responsible for advising on some of the agency’s most complex rulemaking initiatives and interpretive matters. Immediately before joining OGC in 2003, Ms. Price was in private practice for three years. Prior to that, she worked for various SEC offices and divisions from 1987 to 2000. Ms. Price received a J.D. (Order of the Coif) from the University of Maryland School of Law and a B.A. from the University of Maryland.

Mr. Abonamah was named Director of OCR in November 2021, after serving as Acting Director since October 2020. He joined the SEC in 2016 and has served in a variety of positions within the SEC’s Office of Municipal Securities, including Deputy Director. Prior to joining the SEC, he worked as a Public and Infrastructure Finance Associate at Squire Patton Boggs (US) LLP. Mr. Abonamah received a J.D. from Case Western Reserve University School of Law and a B.A. from the University of Dayton.

OCR is responsible for oversight of nationally recognized statistical rating organizations (NRSROs). The office conducts examinations of NRSROs, develops and administers rules affecting NRSROs, and works to ensure that credit ratings are not unduly influenced by conflicts of interest and that NRSROs provide greater transparency and disclosure to investors.