Investment Advisory Committee Meeting
The Securities and Exchange Commission’s (“SEC”) Investor Advisory Committee will meet on February 12, 2015. Written statements should be submitted on or before February 12, 2015. SEC Release No. 33-9707.
Staff Working Papers
On January 21st, the SEC’s Division of Economic and Risk Analysis published two staff working papers: “Too Fast or Too Slow ? Determining the Optimal Speed of Financial Markets” and “High-Frequency Trading Synchronizes Prices in Financial Markets.”
Investment Management Director to Leave
On January 21st, the SEC announced that Norm Champ, Director of the Division of Investment Management, will leave the agency later this month. SEC Press Release.
Market Structure Advisory Committee
On January 20th, the SEC announced it intends to establish the Equity Market Structure Advisory Committee. The Committee will provide the Commission with perspectives on the structure and operations of the U.S. equities markets, as well as advice and recommendations on matters related to equity market structure. No more than seventeen voting members will be appointed to the Committee. The members will represent a cross-section of those directly affected by, interested in, and/or qualified to provide advice to the Commission on matters related to equity market structure. SEC Release No. 34-74092.
On January 16th, SEC Chair White announced she has asked SEC staff to review Securities Exchange Act Rule 14a-8(i)(9), concerning the exclusion of a shareholder proposal that "directly conflicts" with a management proposal. Because of that review, the Division of Corporation Finance will not express any views during this proxy season concerning the application of Rule 14a-8(i)(9). White Statement.