
The committee was formed to provide the Commission 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 is comprised of a group of outside experts, including individuals representing the views of retail and institutional investors, small and large funds, intermediaries, and other market participants.
If you are interested in serving on the Asset Management Advisory Committee, please email a letter of interest with applicable information about your relevant experience here.
Committee Members
- Edward Bernard, Committee Chairman
- T. Rowe Price
- John Bajkowski
- American Association of Individual Investors
- Jane Carten
- Saturna Capital
- Scot Draeger
- R.M. Davis Inc.
- Mike Durbin
- Fidelity Institutional
- Gilbert Garcia
- Garcia Hamilton & Associates
- Paul Greff
- Ohio Public Employees Retirement System
- Rich Hall
- The University of Texas/Texas A&M Investment Management Co.
- Adeel Jivraj
- Ernst & Young LLP
- Renee LaRoche-Morris
- State Street Corporation
- Susan McGee
- Goldman Sachs BDC, Inc.
- Jeffrey Ptak
- Morningstar Research Services
- Erik Sirri
- Babson College and Natixis Funds, Loomis Sayles Funds, and Natixis ETFs
- Aye Soe
- S&P Dow Jones Indices
- Rama Subramaniam
- GTS
- John Suydam
- Apollo Global Management
- Russ Wermers
- Smith School of Business, University of Maryland, and Wermers Consulting LLC
- Joe Savage
- FINRA (non-voting)
Recommendations of the Asset Management Advisory Committee
Final Recommendations for Evolution of Advice
Final Report and Recommendations for Small Advisers and Funds
Final Report and Recommendations for Private Investments
Report and Recommendations on Diversity and Inclusion in the Asset Management Industry
Recommendations Regarding COVID-19 Volatility: Exchange-Traded Products
Email Updates
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News
Staff FAQ Relating to Investment Adviser Consideration of DEI Factors
October 12, 2022
SEC Issues Agendas for October 28 and November 3 Meetings of the Asset Management Advisory Committee
October 26, 2021
SEC Issues Agenda for Sept. 27 Meeting of the Asset Management Advisory Committee
September 23, 2021
SEC Issues Agenda for July 7 Meeting of the Asset Management Advisory Committee
July 2, 2021
SEC Issues Agenda for March 19 Meeting of the Asset Management Advisory Committee
March 17, 2021
SEC Issues Agenda for Dec. 1 Meeting of the Asset Management Advisory Committee
November 25, 2020
SEC Announces New Asset Management Advisory Committee Member
November 4, 2020
SEC Issues Agenda for Nov. 5 Special Meeting of the Asset Management Advisory Committee
October 29, 2020
SEC Issues Agenda for September 16 Meeting of the Asset Management Advisory Committee
September 11, 2020
SEC Issues Agenda for July 16 Special Meeting of the Asset Management Advisory Committee
July 8, 2020
SEC Issues Agenda for May 27 Meeting of the Asset Management Advisory Committee
May 21, 2020
SEC Issues Agenda for Inaugural Meeting of the Asset Management Advisory Committee
January 9, 2020
SEC Announces the Formation of Asset Management Advisory Committee
October 9, 2019
Organization
Notice – Establishment of Committee
Meetings
November 3, 2021
Background Materials
- Report and Recommendations on Regulatory Approach for Small Advisers and Funds
- Recommendations of the Evolution of Advice Subcommittee
October 28, 2021
Background Materials
- Evolution of Advice Subcommittee Presentation
- Personetics Autonomous Finance Presentation
- Draft Observations and Recommendations of the Small Advisers and Small Funds subcommittee
- Panelist Bios
September 27, 2021
Background Materials
- Final Report and Recommendations of the Private Investments Subcommittee (draft)
- IAA Presentation by Karen Barr and Gail Bernstein
- Cramer Rosenthal McGlynn Presentation by Steven Yadegari
- Ultimus – Strengths of Series Trusts Presentation by Dave Carson
- Technology and Big Data: Effects on Asset Managers Economies of Scale Presentation by Russ Wermers
- Evolution of Advice Subcommittee Presentation
- Panelist Bios
July 7, 2021
Background Materials
- Recommendations of the Diversity and Inclusion Subcommittee of AMAC
- Ethic Inc Presentation
- eMoney Presentation
- Recommendations of the ESG Subcommittee of AMAC
- Interim Report of Subcommittee on Private Investments
- Panelist Bios
- Kitces Presentation
March 19, 2021
Background Materials
December 1, 2020
Background Materials
- Panelist Bios
- Update from the ESG Subcommittee
- Potential Recommendations of the ESG Subcommittee
- Summary Draft: Preliminary Recommendations of ESG Subcommittee for the AMAC
- Update from the Private Investments Subcommittee
Additional Background Materials
- Letter from Chairman Jay Clayton to the Chairman of the Asset Management Advisory Committee and the Chair of the Private Investments Subcommittee
- 10/15/2020 SASB SEC AMAC ESG Subcommittee FINAL
November 5, 2020
Background Materials
September 16, 2020
Background Materials
- Panelist Bios
- Update from the ESG Subcommittee
- Update from the Private Investments Subcommittee
- Memorandum – Academic Literature on Potential Benefits for Portfolio Efficiency of Private Equity Investments
- Cambridge Associates – Private Investments
- Hamilton Lane - Presentation
- Prof. Lerner – Remarks to the SEC Asset Management Advisory Committee Private Investments Subcommittee
- Prof. Phalippou – Track Record Marketing in Private Equity
- Illinois State Treasurer – Presentation
- Exchange-Traded Products Panel – Preliminary Recommendation
- Operations Panel – COVID-19 Related Operational Issues
July 16, 2020
Background Materials
- Panelist Bios
- Orion – Technology’s Role in the Evolution of Investment Advice
- Schwab – Deconstruction of Advice: Perspective of an Entrepreneur
Additional Background Materials
- Study: Race Influences Professional Investors’ Financial Judgments (May 2019)
- GAO Report: Investment Management – Key Practices Could Provide More Options for Federal Entities and Opportunities for Minority- and Women-Owned Asset Managers (September 2017)
- Study: Diverse Asset Management Project Firm Assessment (Final Report May 2017)
- Study: 2018 Diverse Asset Management Firm Assessment (Final Report January 2019)
- Study: Diversity of Asset Managers in Philanthropy (February 2020)
- Study: Intolerance of Failure? Evidence from U.S. Private Equity (Final Report January 2019)
- Raben Group Diverse Asset Managers Initiative Information: Annual Investment Consultant Survey (2018)
- Raben Group Diverse Asset Managers Initiative Information: Annual Investment Consultant Survey (2019)
- Raben Group Diverse Asset Managers Initiative Information: Fiduciary Guide to Investing with Diverse Asset Managers and Firms (April 2017)
- Letter from NASP et al. to Treasury Secretary Mnuchin et al. (April 2020)
- Letter from NAIC to Chairwoman Maxine Waters, U.S. House Committee on Financial Services (June 2019)
- Draft Bill for Diverse Investment Advisers Act (March 2020)
- NASP Public Policy Priorities
- Letter from NASP to California Public Employees Retirement System (January 2020)
- Ronald C. Parker, NASP, Statement before the U.S. House Financial Services Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets (June 2020)
May 27, 2020
Background Materials
- Update from the ESG Subcommittee
- Update from the Private Investments Subcommittee
- CaseyQuirk – Asset Management’s Pandemic Response
- ICI – Fund Flows During COVID-19
- PIMCO – Taxonomy of a Crisis
January 14, 2020
Background Materials
- CaseyQuirk -- Remarks and Discussion
- Empirical Research – Issues Facing U.S. Money Management Industry
- McKinsey & Company – Global Trends in Asset Management
- Key Global Regulatory Themes in Fund Management in the 2020s: A Personal Perspective
- Apollo Global Management – SEC Asset Management Advisory Committee Presentation
- Blackstone – Expanding Retail Access to Private Markets
Modified: Oct. 13, 2022