Odaily Planet Daily reported that Paul Atkins, chairman of the U.S. Securities and Exchange Commission (SEC), appointed a key member to his leadership team on Wednesday to head the department that reviews corporate IPOs and corporate information disclosures. The SEC said that James Moloney, a partner at Gibson Law Firm, will serve as head of the SEC's Corporate Finance Division starting next month. Moloney worked at the SEC from 1994 to 2000, and was responsible for mergers and acquisitions and corporate finance related work. The Corporate Finance Division is responsible for reviewing financial reports submitted by companies to ensure that companies fully disclose potential risks to investors. The department also issues guidance on how to comply with SEC rules, such as executive compensation disclosures or reporting requirements for non-GAAP profit indicators. Moloney said in a statement: "The work ahead is heavy, and I look forward to returning to the Corporate Finance Division and working with my colleagues to develop smart, pragmatic and effective regulatory rules to help companies grow and benefit investors."