Michael A. Macchiaroli

Associate Director, Division of Trading and Markets,, U.S. Securities and Exchange Commission, Washington, DC

MICHAEL A. MACCHIAROLI is Associate Director, Office of Risk Management & Control, Division of Trading and Markets, U.S. Securities and Exchange Commission, where he is responsible for the broker- dealer financial responsibility program, which deals with the capital record-keeping, reporting and customer protection Rules. Mr. Macchiaroli has been employed at the Commission since 1970 and in the Division of Trading and Markets since 1978. Mr. Macchiaroli is a graduate of St. Joseph's College in Philadelphia, Pennsylvania, and Villanova College.

Appearances