SEC announces formation of new Investor Advisory Committee

Mary Schapiro

The Securities and Exchange Commission announced the formation of a new Investor Advisory Committee mandated by the 2010 Dodd-Frank Act on Monday.

Under Section 911 of the Dodd-Frank Act, an investor committee must be formed to advise the SEC in areas related to investor products, services and securities, reports.

The Investor Advisory Committee is responsible for advising the SEC in its regulatory priorities, the regulation of securities products, trading strategies, fee structures, the effectiveness of disclosure, and initiatives to protect investor interests as well promote investor confidence and the integrity of the securities marketplace. Dodd-Frank also authorizes the Investor Advisory Committee to submit all discoveries to the SEC for consideration.

All of the committee’s new members, who represent a wide range of interests, were nominated by the SEC’s sitting commissioners.

“The SEC’s new Investor Advisory Committee is made up of individuals with a broad range of backgrounds and experiences,” SEC Chairwoman Mary Schapiro said, according to “I look forward to their insight and recommendations as to how we can further the SEC’s critical investor protection mission.”

The Investor Advisory Committee’s new members include Joseph Dear, the CIO of the California Public Employees Retirement System; Joseph Grundfest, a former SEC commissioner and professor at Stanford Law School; and Ann Yerger, the executive director of the Council of Institutional Investors.

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