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.