As required under the Dodd–Frank Wall Street Reform and Consumer Protection Act on April 9, 2012, the SEC formed a new investment advisory committee consisting of 21 members. This committee will advise the SEC on regulatory priorities, the regulation of securities products, trading strategies, fee structures, the effectiveness of disclosure, and on initiatives to protect investor interests and to promote investor confidence and the integrity of the securities marketplace. The committee will submit its findings and make recommendations for review and consideration by the SEC.

Members of the committee were nominated by all five sitting Commissioners of the SEC and represent a wide variety of interests, including senior citizens and other individual investors, mutual funds, pension funds, and state securities regulators.