SEC Chairman Mary Schapiro has announced the creation of new advisory committee which is intended to give investors a greater opportunity for input on the Commission’s reform program.
SEC Commissioner Luis Aguilar is the primary sponsor of the 18-person committee which will cover a broad work plan, including:
- Advising the Commission on matters of concern to investors in the securities markets;
- Providing the Commission with investors’ perspectives on current, non-enforcement, regulatory issues; and
- Serving as a source of information and recommendations to the Commission regarding the Commission’s regulatory programs from the point of view of investors.
“Through this well-respected and diverse group, we are reaching out to investors in a new and significant way,” said Schapiro. “I look forward to hearing their views on new products, trading strategies, fee structures, and the effectiveness of disclosure, among other issues.”
Panel co-chairs are Richard Hisey, president of AARP Financial and AARP Funds, and Hye-Won Choi, senior vice president and head of corporate governance for TIAA-CREF. The Council of Institutional Investors, the leading investor membership body in the US will also be participating with several well-known officers taking seats: Mark Anson (Nuveen Investments), Abe Friedman (Barclays Global Investors), Dennis Johnson (Shamrock Activist Fund) and Damon Silvers (AFL-CIO). Ann Yerger, the Council’s executive director, was also appointed to the committee together with governance veteran, Stephen Davis, Senior Fellow and Project Director, Yale University School for Management’s Millstein Center for Corporate Governance.
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Last Updated: 4 June 2009