SEC organizes Investor Advisory Committee

SEC recently announced about formation of an Investor Advisory Committee. As it was stated by SEC it was done in order to give investors “a greater voice in the commission’s work.” 

According to SEC the Committee’s charter stipulate for wide scope of interest. It includes advising the SEC on matters of concern to investors in the securities markets; providing the SEC with investors' perspectives on non-enforcement regulatory issues; and serving as information and recommendations source for the SEC regarding the its regulatory programs.

There will be 18 members in Committee. The primary sponsor of Committee will be Commissioner Luis Aguilar. As he stated, “Investors need a greater voice at the commission.”

Chairmen of the committee will be Richard Hisey, president of AARP Financial Inc. and AARP Funds of Tewksbury, Mass., as well as Hye-Won Choi, senior vice president and head of corporate governance for TIAA-CREF of New York.

Fred Joseph, Colorado securities administrator, president of the North American Securities Administrators Association Inc. of Washington, will be an ex officio participator of the committee.

Here are some committee members: Mercer Bullard, president of Fund Democracy Inc. of Oxford; Dallas Salisbury, president and CEO of the Employee Benefit Research Institute of Washington; Mellody Hobson, president of Ariel Capital Management LLC of Chicago; Ann Yerger, executive director of the Council of Institutional Investors of Washington; Kurt Stocker, chairman of the Individual Investors Advisory Board of the New York Stock Exchange and other.