Harvard Law's John Coates, Now at SEC, Reveals Consulting Income, Clients
The financial disclosure that John Coates filed also offered a rare public peek into the costs of corporate compliance monitors. He had been serving as the independent monitor for the U.S. Justice Department in the prosecution of Boston-based State Street Corp.
March 25, 2021 at 10:40 AM
6 minute read
The Biden administration's new acting head of a key component of the U.S. Securities and Exchange Commission reported earning more than $2.5 million in law school income and consulting fees paid by financial firms and major U.S. companies, according to a newly released financial statement.
John Coates joined the SEC in February as the acting director of the division of corporation finance, which reviews securities filings for compliance with disclosure and accounting requirements in addition to providing legal and accounting advice to the commission. Coates is on unpaid leave from Harvard Law School, where he has taught since 1997 and more recently, since 2018, has served as vice dean for finance and strategic initiatives.
The financial disclosure Coates filed after joining the SEC showed his Harvard salary at $1.07 million. He was one of nearly a dozen Harvard law professors to snag posts in the Biden administration. Coates was a partner at Wachtell, Lipton, Rosen & Katz from 1988 to 1997 who focused on financial institutions and mergers and acquisitions.
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