Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Wednesday, June 3, 2009

SEC Creates Investor Advisory Committee

SEC Chairman Mary Schapiro today announced the formation of an Investor Advisory Committee to give investors a greater voice in the Commission's work. SEC Commissioner Luis A. Aguilar will serve as the Commission's primary sponsor of the Committee.  The Investor Advisory Committee's charter provides for a broad scope of interest, 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.


The Advisory Committee will be co-chaired by Richard (Mac) Hisey, President of AARP Financial Incorporated and AARP Funds, and Hye-Won Choi, Senior Vice President and Head of Corporate Governance for TIAA-CREF. Fred Joseph, President of the North American Securities Administrators Association and Securities Administrator for the State of Colorado, will be an ex officio participant.

The Advisory Committee's other members will include:

Mark Anson, President and Executive Director of Investment Services, Nuveen Investments
Mercer Bullard, Founder and President of Fund Democracy, Inc. and Associate Professor of Law, University of Mississippi Law School
Jeff Brown, Senior Vice President, Legislative and Regulatory Affairs, Charles Schwab & Co., Inc.
Stephen Davis, Senior Fellow and Project Director, Yale University School for Management's Millstein Center for Corporate Governance, and nonexecutive chair of Hermes Equity Ownership Service
Abe Friedman, Global Head of Corporate Governance and Proxy Voting and Managing Director, Barclays Global Investors
Mellody Hobson, President of Ariel Capital Management
Dennis A. Johnson, Managing Director, Shamrock Capital Advisors, Inc.
Adam Kanzer, Managing Director and General Counsel, Domini Social Investments LLC
Mark Latham, Director of Proxy Democracy, a nonprofit organization helping individual investors
Barbara Roper, Director of Investor Protection, Consumer Federation of America
Dallas Salisbury, President and CEO, Employee Benefit Research Institute
Kurt Schacht, Managing Director, CFA Institute
Damon Silvers, Associate General Counsel, AFL-CIO
Kurt Stocker, Chairman of the Individual Investors Advisory Board of the NYSE
Ann Yerger, Executive Director, Council of Institutional Investors

The Advisory Committee will begin its work in the next few weeks, after the SEC staff files the Committee's charter with Congress.

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