The chief counsel of the Securities and Exchange Commission's investment management division is joining a law firm that is expanding its industry practice.

Jack W. Murphy is leaving the SEC after two-and-a-half years to become a partner in the Washington office of Dechert Price & Rhodes on April 1. As associate director in the SEC's investment management division, Mr. Murphy worked on many issues affecting banks, including the SEC's role in Glass- Steagall reform.

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