November 13, 2019

November 13, 2019

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November 12, 2019

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November 11, 2019

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SEC Announces the Formation of Asset Management Advisory Committee

On October 9, the Securities and Exchange Commission announced the formation of its Asset Management Advisory Committee.

The committee will provide the SEC with diverse perspectives on asset management and related advice and recommendations. Topics the committee may address include trends and developments affecting investors and market participants, the effects of globalization, and changes in the role of technology and service providers. The committee features outside experts that collectively represent the views of retail and institutional investors, small and large funds, intermediaries, and other market participants.

In a public statement, SEC Chairman Jay Clayton stated that the committee will help ensure that the SEC’s regulatory approach to asset management fulfills the needs of retail investors and market participants.

The committee will be formally established on November 1 and includes an initial two-year term renewable by the SEC. It is expected that the SEC will announce further details about the committee in the near future.

The SEC’s press release is available here.

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About this Author

Susan Light, Katten Law Firm, Finance Law Attorney, New York
Partner

Susan Light focuses her practice on financial services regulatory matters. She counsels broker-dealers, hedge funds, investment banks and financial services clients on enforcement issues involving the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), other self-regulatory organizations (SROs) and state and federal regulatory authorities. She has particular experience related to sales practice issues, financial and operational issues, anti-money laundering, crowdfunding, cybersecurity, and cryptocurrencies.

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212-940-8599
Michael T. Foley, Katten, Lawyer, Finance, FINRA, Chicago
Special Counsel

Michael Foley represents broker-dealers, investment advisers and other financial services industry participants with respect to a broad spectrum of legal and regulatory matters arising under the federal securities laws.

Michael has nearly 20 years of experience in private practice and in-house at both a large, full-service broker-dealer and at an online discount broker-dealer, advising broker-dealers and other financial institutions regarding compliance with the federal securities and commodities laws, and with the regulations of the US Securities and Exchange Commission, the US Commodity Futures Trading Commission and financial industry self-regulatory organizations. 

312-902-5452
Associate

Adam Haft is an associate in the Financial Services practice.

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