The SEC’s relationship with the markets it regulates became so tense during the Gensler years that even members of its inmost councils accused it of being too standoffish, and sometimes advised industry colleagues that the potential for a punitive response was too great to risk asking SEC staff questions that were a little too direct.
It’s not clear what kind of relationship a Trump-era SEC will build with the industry, but that relationship will almost certainly change simply due to the leadership change following the replacement of three fifths of the commission and a host of senior staff and divisional directors who have left during the past few weeks
The SEC has, however, announced two options for members of the industry to engage with SEC staff more directly than they might have during the bad old days of a few weeks ago.
The first is the SEC Division of Investment Management (DIM)’s annual Conference on Emerging Trends in Asset Management, which will be held June 5 SEC headquarters in Washington D.C.
The agenda and speaker list won’t be available until later, but details about attending either in person or online via live webcast will be available through the announcement page at SEC.gov.
Last year’s session, as is typical, included solo session with then-new director of the DIM Natasha Vij Greiner, followed by an appearance by SEC chair Gary Gensler and a series of workshops and roundtables moderated by senior SEC officials and made up of high-profile registered-investment-adviser company executives.
The second, more interactive opportunity is the SEC’s semi-annual call for members to join the Investor Advisory Committee, which was established under terms of the Dodd-Frank Wall Street Reform and Consumer Protection Act to offer oversight and advice to the SEC on regulatory priorities, issues about the regulation of security products and strategies and consumer protections.
Information about current membership and recent recommendations are available at the Committee’s site.
The committee includes between 10 and 20 members, who are appointed to four-year terms by the commission, and satisfy mandated requirements. Those include the ability to represent the interests of investors, have a knowledge of the industry and a reputation for integrity. Applications for membership can be submitted via e-mail to the SEC at iac-candidates@sec.gov, but the timing is short. Applications will only be accepted until March 15.
