SEC Creates Investor Advisory Committee
June 9, 2009 by Lela Davidson
Filed under Finance
The Securities and Exchange Commission last week announced the formation of an Investor Advisory Committee. The committee is intended to allow investors to have a greater impact on the Commission’s work. SEC Commissioner Luis A. Aguilar will serve as the Commission’s primary sponsor of the Committee. Chairman Mary Schapiro said:
“Through this well-respected and diverse group, we are reaching out to investors in a new and significant way. I look forward to hearing their views on new products, trading strategies, fee structures, and the effectiveness of disclosure, among other issues. Investors need a greater voice at the Commission. The Commission’s traditional role as the investor’s advocate, as well as our deliberations, will be enhanced by the range of views the Advisory Committee will provide.”
The Investor Advisory Committee has been created to do the following:
- Advise the Commission on matters of concern to investors in the securities markets.
- Provide the Commission with investors’ perspectives on current, non-enforcement, regulatory issues.
- Serve as a source of information and recommendations to the Commission regarding the Commission’s regulatory programs from the point of view of investors.
Members of the committee include representatives from AARP Financial Incorporated and AARP Funds, TIAA-CREF, the North American Securities Administrators Association, Nuveen Investments, Charles Schwab, Yale University’s Millstein Center for Corporate Governance, Consumer Federation of America, and the Individual Investors Advisory Board of the NYSE, among others.
Image Credit: nromagna, Flickr
