Investor Advisory Committee
May 23, 2024
Section 911 of the Dodd-Frank Act established the new Investor Advisory Committee to advise the Commission on regulatory priorities, the regulation of securities products, trading strategies, fee structures, the effectiveness of disclosure, and on initiatives to protect investor interests and to promote investor confidence and the integrity of the securities marketplace.
The Dodd-Frank Act authorizes the committee to submit findings and recommendations for review and consideration by the Commission. (Links to the Committee’s recommendations can be found below.) Members of the Committee are chosen from among knowledgeable representatives of both retail and institutional investors. (Links to the biographies of current Committee members can be found below.)
If you think you might be interested in serving on the Investor Advisory Committee, please review the following for information on eligibility criteria, how to apply, and what to expect if you are chosen to serve.
The Commission announced it was seeking applications for the Investor Advisory Committee on February 14, 2025. The application period has closed.
Committee Members
Officers
| NAME | TITLE/COMPANY |
|---|---|
| Partner and Chief Legal Officer, Trian Fund Management, L.P. | |
| Retired, Former Senior Vice President and Senior Counsel, Fund Business Management Group | |
| Professor of Law and Associate Dean of Curriculum, Stanford Law School | |
| Professor of Law, University of Miami School of Law |
Members
| NAME | TITLE/COMPANY |
|---|---|
| Investor Advocate, U.S. Securities and Exchange Commission | |
| Professor of Law, Duke Law School | |
| Chief Investment Officer, Turtle Creek Trust | |
| Professor of Clinical Legal Education, St. John’s University School of Law of Counsel, Law Offices of Brent A. Burns, LLC | |
| Executive Vice President, Chief Advocacy and Engagement Officer, Community, State and National Affairs, AARP | |
| Chief Investment Officer/Chief Operating Officer, Colorado Public Employees' Retirement Association | |
| Director of Federal Affairs, New York State Insurance Fund | |
| Staff General Surgeon, U.S. Navy | |
|
Director of Financial Regulation Studies, Cato Institute's Center for Monetary and Financial Alternatives |
| Ohio Securities Commissioner | |
| Associate Professor of Law, Indiana University Maurer School of Law |
See also: Subcommittee Members
- Use of Mandatory Arbitration Clauses By Registered Investment Advisers
- Preserving Investors’ Ability to Bring Claims Under Section 11 of the Securities Act of 1933
- Protection of Investors in their Interactions with Finfluencers
- Financial Literacy and Investor Education
- Protection of Self-Directed Investors when Trading Complex Products and Utilizing Complex Strategies
- Digital Engagement Practices
- Human Capital Management Disclosure
- Open-End Fund Liquidity Risk Management Programs and Swing Pricing
- Single-Stock ETFs
- 13D-G, and 10B-1
- Registered Investment Adviser Oversight
- Customer Account Statements
- Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure
- Climate-Related Disclosure Rule
- Accounting Modernization
- Protecting Older Adult Investors
- Investor Advocacy Clinic Funding
- Individual Retirement Accounts
- Rule 10b5-1 Plans
- Special Purpose Acquisition Companies (SPACs)
- Minority and Underserved Inclusion
- Credit Rating Agencies
- Disclosure Effectiveness
- Accounting and Financial Disclosure
- ESG Disclosure
- SEC Guidance and Rule Proposals on Proxy Advisors and Shareholder Proposals
- Exchange Rebate Tier Disclosure
- Proxy Plumbing
- Investment Research in a Post-MiFID II World
- Human Capital Management Disclosure
- Proposed Regulation Best Interest
- Transaction Fee Pilot for NMS Stocks
- Select Enhancements to Protect Retail Investors in Municipal and Corporate Bonds
- Financial Support for Law School Clinics that Support Investors
- On Dual Class and Other Entrenching Governance Structures in Public Companies
- Promotion of Electronic Delivery and Development of a Summary Disclosure Document for Delivery of Investment Company Shareholder Reports
- To Enhance Information for Bond Market Investors
- Mutual Fund Cost Disclosure
- Empowering Elders and Other Investors: Background Checks in the Financial Markets
- Shortening the Trade Settlement Cycle in U.S. Financial Markets
- Accredited Investor Definition
- Impartiality in the Disclosure of Preliminary Voting Results
- Crowdfunding
- Decimalization and Tick Sizes
- Legislation to Fund Investment Adviser Examinations
- Broker-Dealer Fiduciary Duty
- Universal Proxy
- Data Tagging
- Target Date Mutual Funds
- General Solicitation and Advertising
- Letter to SEC re: Diversity Self-assessment Tool
- Letter to SEC re: Cryptocurrency
- Letter to SEC re: Ethical AI
- Investor as Owner Subcommittee Letter to FASB re: Corporate Income Taxes
- Investor as Owner Subcommittee Letter re: Subpart 400 of Reg S-K and Study on Modernization and Simplification
- Letter on Regulation S-K Concept Release and Disclosure Effectiveness
- Letter to FASB re: Materiality
June 5, 2025
- Agenda
- Draft Recommendation Regarding the Use of Mandatory Arbitration Clauses By Registered Investment Advisers
- Webcast Archive (Part 1)
- Webcast Archive (Part 2)
March 6, 2025
- Sunshine Act Notice
- Agenda
- Draft Recommendation Regarding Investors’ Ability to Bring Claims Under Section 11 of the Securities Act of 1933
- Webcast Archive (Part 1)
- Webcast Archive (Part 2)
- Minutes
December 10, 2024
- Sunshine Act Notice
- Agenda
- Draft Recommendation regarding the Protection of Investors in their Interactions with Finfluencers
- Webcast Archive (Part 1)
- Webcast Archive (Part 2)
- Minutes
September 19, 2024
- Sunshine Act Notice
- Agenda
- Webcast Archive (Part 1)
- Webcast Archive (Part 2)
- Minutes
June 6, 2024
- Sunshine Act Notice
- Agenda
- Draft Recommendation regarding the Protection of Self-Directed Investors when Trading Complex Products and Utilizing Complex Strategies
- Draft Recommendation regarding Financial Literacy and Investor Education
- Webcast Archive (Part 1)
- Webcast Archive (Part 2)
- Minutes
March 7, 2024
- Sunshine Act Notice
- Agenda
- Updated Draft recommendation regarding Digital Engagement Practices (February 2024)
- Statement of Dissent Regarding Digital Engagement Practices Recommendation (Van Buskirk)
- Statement of Dissent Regarding Digital Engagement Practices Recommendation (Martin Firvida)
- Webcast Archive (Part 1)
- Webcast Archive (Part 2)
- Minutes
December 7, 2023
- Sunshine Act Notice
- Agenda
- Draft recommendation regarding Digital Engagement Practices (discussed during the December 7, 2023 IAC meeting, but superseded by the February 2024 updated draft)
- Webcast Archive (Part 1)
- Webcast Archive (Part 2)
- Minutes
September 21, 2023
- Sunshine Act Notice
- Agenda
- Draft Recommendation regarding Swing Pricing
- Draft Recommendation regarding Human Capital Management Disclosure
- Webcast Archive (Part 1)
- Webcast Archive (Part 2)
- Minutes
June 22, 2023
- Sunshine Act Notice
- Agenda
- Draft Recommendation on Single-Stock ETFs
- Draft Recommendation on Reg 13D-G, 10B-1, and 9j-1
- Draft Recommendation on Registered Investment Adviser Oversight
- Webcast Archive - Part 1
- Webcast Archive - Part 2
- Minutes
March 2, 2023
- Sunshine Act Notice
- Agenda
- Draft Recommendation on Account Statements
- Webcast Archive - Part 1
- Webcast Archive - Part 2
- Minutes
December 8, 2022
September 21, 2022
- Sunshine Act Notice
- Agenda
- Panelist Info
- Draft Recommendation on Accounting Modernization
- Draft Recommendation on Climate-related Disclosure
- Draft Recommendation on Cybersecurity Disclosure
- Webcast Archive - Part 1
- Webcast Archive - Part 2
- Minutes
June 9, 2022
- Sunshine Act Notice
- Agenda
- Panelist Info
- Draft Recommendation on Protecting Older Investors
- Draft Recommendation on Investor Clinic Funding
- Webcast Archive - Part 1
- Webcast Archive - Part 2
- Minutes
March 10, 2022
December 2, 2021
- Meeting Notice
- Sunshine Act Notice
- Agenda
- Panelist Info
- Draft Recommendation of the Investor-as-Purchaser Subcommittee on IRAs
- Webcast Archive - Part 1
- Webcast Archive - Part 2
- Minutes
September 9, 2021
- Meeting Notice
- Sunshine Act Notice
- Agenda
- Panelist Info
- Draft Recommendation of the Investor-as-Purchaser and Investor-as-Owner Subcommittees on SPACs
- Draft Recommendation of the Investor-as-Owner Subcommittee on 10b5-1 Plans
- Webcast Archive - Part 1
- Webcast Archive - Part 2
- Minutes
June 10, 2021
- Meeting Notice
- Sunshine Act Notice
- Agenda
- Panelist Info
- Webcast Archive - Part 1
- Webcast Archive - Part 2
- Minutes
March 11, 2021
- Meeting Notice
- Sunshine Act Notice
- Agenda
- Draft Recommendation on Minority and Underserved Inclusion
- Draft Recommendation of the Market Structure Subcommittee on Credit Rating Agencies
- Webcast Archive
- Minutes
December 3, 2020
September 24, 2020
- Meeting Notice
- Sunshine Act Notice
- Agenda
- Recommendation of the Investor-as-Owner Subcommittee on COVID-19 Challenges to Going Concern Opinions and Audit/Controls Assessments
- Webcast Archive
- Minutes
May 21, 2020
- Agenda
- Meeting Notice
- Sunshine Act Notice
- Recommendation of the Investor as Purchaser Subcommittee on Disclosure Effectiveness
- Recommendation of the Investor as Owner Subcommittee on Accounting and Financial Reporting Disclosure
- Recommendation of the Investor As Owner Subcommittee on ESG Disclosure
- Statement of Dissent Regarding ESG Disclosure Recommendation (Holmes)
- Webcast Archive
- Minutes
May 4, 2020
April 2, 2020
Feb. 27, 2020
Jan. 24, 2020
- Agenda
- Recommendation of the Market Structure Subcommittee on the Exchange Rebate Tier Disclosure (Revised January 15, 2020)
- Recommendation of the Investor-as-Owner Subcommittee Relating to SEC Guidance and Rule Proposals on Proxy Advisors and Shareholder Proposals (Jan. 16, 2020)
- Statement of Dissent Regarding SEC Guidance and Rule Proposals on Proxy Advisors and Shareholder Proposals (Stam)
- Statement of Dissent Regarding SEC Guidance and Rule Proposals on Proxy Advisors and Shareholder Proposals (Mahoney and Verret)
- Statement of Abstention Regarding SEC Guidance and Rule Proposals on Proxy Advisors and Shareholder Proposals (Holmes)
- Notice of Meeting
- Sunshine Act Notice
- Webcast Archive
- Minutes
November 7, 2019
September 19, 2019
September 5, 2019
- Agenda
- Notice of Meeting
- Sunshine Act Notice
- Recommendation of the Investor as Owner Subcommittee on the U.S. Proxy System
- Webcast Archive
- Minutes
July 25, 2019
- Notice of Meeting
- Agenda
- Sunshine Act Notice
- Recommendation of the Market Structure Subcommittee on Investment Research in a Post-MiFID II World
- Recommendation of the Investor as Owner Subcommittee on the U.S. Proxy System
- Opening Statement of Aline Darbellay
- Webcast Archive
- Minutes
March 28, 2019
Last Reviewed or Updated: June 12, 2025