Washington DC: home to the SEC
Former Teachers Insurance and Annuity Association of America (TIAA) managing director and general counsel Paul Cellupica has been hired by the Securities Exchange Commission (SEC) at a time TIAA is under scrutiny from a NY State Attorney General investigation and a pending SEC whistleblower complaint. At Teachers Insurance and Annuity Association of America (TIAA),his responsibilities included legal support for the TIAA-CREF mutual fund complex. Prior to TIAA, Mr Cellupica was chief counsel for the Americas at MetLife where he had responsibility for legal support of MetLife's financial services businesses in the US and Latin America.The moves marks a return to the SEC for Mr Cellupica who was assistant director in the Investment Management Division where he also worked in a number of other roles from 1997 to 2004.
Questionable sales practices
Former employer TIAA’s ongoing NY State Attorney General investigation into mutual fund and annuity sales practices was triggered following a whistleblower complaint filed by TIAA with the SEC in the autumn outlining questionable sales practices the company and its brokers allegedly perpetuated on public school teachers investing for retirement.
Previous SEC role
Cellupica had previously served with the SEC between 1996 and 2004 in various capacities with the division of investment management and the division of enforcement, including a position as assistant director in the division of investment management from 2001 to 2004.