UPDATE 1-U.S. SEC corporate finance director Cross to step down

Tue Dec 4, 2012 3:03pm EST

By Sarah N. Lynch

WASHINGTON Dec 4 (Reuters) - Meredith Cross, the director of the Securities and Exchange Commission's Corporation Finance Division, is leaving the agency at the end of the year, the SEC announced Tuesday.

Cross joined the SEC in 2009 and has helped review some of the largest and most high-profile initial public offerings in history, including Facebook and private equity giant Carlyle Group.

The division is tasked with reviewing disclosures by more than 9,000 publicly traded companies, including new offerings, annual and quarterly reports, and company voting materials.

The announcement that Cross will leave the SEC comes roughly a week after Schapiro announced she too will leave the agency in December. SEC Commissioner Elisse Walter will take over the helm of the agency after Schapiro departs.