The Securities and Exchange Commission should reinstate the investor advisory committee it abandoned in 2010 as part of a wider commitment to address near-term financial market reform, a group of institutional investors from across the globe have stated. The investors, who represent combined assets of $1.6 trillion, wrote to SEC chairman Mary Schaprio calling for the SEC to address “unfinished business that is critical to protecting and strengthening shareowner rights and investor confidence in the financial markets. Led by CalPERS’ chief executive, Anne Stausboll, the investors called for six initiatives including reviving the SEC investor advisory committee. That committee, which was formed in June 2009 and abandoned in November 2010, was tasked with advising the SEC on investors’ concerns in the securities markets; provide the Commission with investors’ perspectives on current non-enforcement regulatory issues; and serve as a source of information and recommendation to the Commission regarding its regulatory programs from the point of view of investors.

Read more