News | 10.10.19

SEC Launches Asset Management Advisory Committee

by: Brian Croce

The SEC is launching an asset management advisory committee, the agency said Wednesday. "This committee will help the commission ensure that our regulatory approach to asset management meets the needs of retail investors and market participants at a time when the industry is evolving rapidly," said SEC Chair Jay Clayton. The committee is composed of a group of outside professionals, including individuals representing the views of retail and institutional investors and small and large funds, with Edward Bernard, senior advisor to T. Rowe Price, appointed the initial chair. At an ICI conference in March, Dalia Blass, director of the SEC's investment management division, said she was concerned "what it will mean for investors ... if the variety and choice offered by small and midsized asset managers becomes lost in a wave of consolidation and fee compression."

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