Md. securities chief quits


State Securities Commissioner Ellyn L. Brown will leave her post Sept. 18, after nearly five years as the state's top securities regulator.

Ms. Brown, who submitted her resignation to Attorney General J. Joseph Curran Jr. last week, said her decision wasn't a sign of any unhappiness in her job.

"The basic reason is, I've been doing this almost five years and it's time for me to move on to other challenges," she said yesterday. "I have a couple of offers and I haven't made a firm commitment to any of them."

Ms. Brown said the offers she is considering are in the Baltimore-Washington area. She said her next job will use her legal training and background as a securities regulator.

The 41-year-old University of Maryland Law School graduate came to the Securities Division from the Baltimore firm of Venable, Baetjer & Howard in July 1987. Since then, the division's staff has grown to 32 from 8, and it has helped the attorney general and General Assembly overhaul Maryland's securities act.

"What has happened here is that the Maryland Division of Securities has really become one of the finest securities regulatory agencies in the country," she said. "I think our legal talent and our examinations talent are second to none."

Ms. Brown said she gave early notice in part so she could finish a project for the North American Securities Administrators Association. She is a board member and treasurer of the association.

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