The SEC issued a statement on the passing of former Chair David S. Ruder. Mr. Ruder passed away on February 15, 2020. He served as SEC Chair from 1987 to 1989, and chaired the Mutual Fund Directors Forum from 2002 to 2010. In addition to his government service, Mr. Ruder was the William W. Gurley Memorial Professor of Law Emeritus at Northwestern University and served as Dean of the law school from 1977 to 1985.

Commentary Nihal Patel

While he is best known to many as a former Chair of the SEC, prior to even holding that post Professor Ruder was an impressive scholar whose writing played an important role in shaping the federal securities laws. For an overview of the importance of his work, see Douglas M. Branson, Prescience and Vindication: Federal Courts, SEC Rule 10b-5, and the Work of David S. Ruder, 85 Nw. U. L. Rev. 613 (1991).

Beyond his achievements, Professor Ruder was an excellent teacher who displayed genuine interest in his students. His enthusiasm for his chosen subject matter was infectious. He once said that he felt proud when former students would see him and say, "Professor Ruder, I had you for securities regulation, and you really enthused me, and now I'm a securities lawyer." I had Professor Ruder for securities regulation (and worked as his research assistant); he really enthused me, and now I'm a securities lawyer.

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