Votermedia Finance Blog

September 22, 2009

SECIAC Meeting Notice for October 5, 2009

Filed under: Uncategorized — Tags: — Mark Latham @ 4:41 pm

Today I noticed that the public announcement of our next meeting has been posted on the SEC Investor Advisory Committee spotlight page.

It starts at 9 a.m. EST, is open to the public (and will be webcast) except for 2 hours when we’re in subcommittees (probably noon to 2 pm). It should end about 5 pm.

“The agenda for the meeting includes: (i) a presentation by SEC staff of potential Commission initiatives; (ii) description of the composition and purpose of the Committee’s subcommittees; (iii) consideration of a Committee recusal policy; (iv) reports from the Committee’s subcommittees; and (v) discussion of next steps for the Committee, including regarding SEC resources.
DATES: Written statements should be received on or before September 28, 2009”

Instructions for submitting statements are in the announcement.

September 15, 2009

SEC Investor Advisory Committee creates 3 subcommittees

Filed under: Uncategorized — Tags: — Mark Latham @ 2:19 pm

From today’s SEC press release:

An Investor Education Subcommittee chaired by Dallas Salisbury (President and CEO, Employee Benefit Research Institute) plans to focus on matters related to financial literacy, the efficacy of layered educational resources that may permit investors to access information at varying levels of detail reflecting their needs, the ways that issuers and boards of directors communicate with investors, and the types of technology that can be utilized for education.

An Investor as Purchaser Subcommittee chaired by Mercer Bullard (Founder and President of Fund Democracy, Inc. and Associate Professor of Law, University of Mississippi School of Law) expects to examine the needs of investors when they purchase specific products (mutual funds, hedge funds, money market funds) and services (brokerage, investment advisory, and financial planning). This subcommittee also will consider the fiduciary duty owed to investors by those who provide investment advice, as well as issues related to pre-sale and other disclosure, intermediary fees and compensation practices, arbitration, and technology.

An Investor as Owner Subcommittee chaired by Stephen Davis (Executive Director of Yale School for Management’s Millstein Center for Corporate Governance, and board member of Hermes Equity Ownership Service) intends to review proxy solicitation and disclosure issues, proxy voting and process (including the role of proxy advisory firms), majority voting, Regulation FD, executive compensation practices, the responsibilities of shareholders, international issues, and technology related to shareholder communications and voting.

The SEC’s Investor Advisory Committee plans to hold its next meeting in early October.

A new Web page with more information about the work of the SEC’s Investor Advisory Committee is available at investoradvisorycommittee.shtml.

I’ve volunteered for Investor Education and Investor as Owner.

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