Brief: SEC Investor Advisory Committee Schedules Meeting for October 9th

SEC Investor AdvocatesAs part of their regularly scheduled quarterly meetings, the Investor Advisory Committee (IAC) is planning to meet at the offices of the SEC on October 9th.

The IAC, a mandated group under Dodd-Frank legislation, advises the SEC on various aspects of securities regulations.  One of the hottest topics during the last meeting, and an issue of great concern for entrepreneurs and investors across the nation, is the definition of an “Accredited Investor”.

Current rules prohibit most individuals from investing in certain private placements unless they have a substantial income and /or a hefty bank account. There is no accommodation for education, sophistication or profession.  This form of exclusion has absurdly disenfranchised many individuals in society such as:  Doctors, Lawyers and yes, Congressmen.  The members of the IAC have formulated some thoughts and recommendations on the definition but during the October 9th meeting the discussion is first on the agenda.

Normally these events are live-streamed – so be certain to mark it in your calendar now.

Agenda: October 9, 2014, Meeting of the Securities and Exchange Commission Investor Advisory Committee

10:00-10:40 a.m. Welcome Remarks and Continental Breakfast

10:40-10:45 a.m. Approval of Minutes

10:45-11:15 a.m. Discussion of a Recommendation of the Investor as Purchaser Subcommittee on the Definition of Accredited Investor

11:15-11:45 a.m. Discussion of a Recommendation of the Investor as Owner Subcommittee on Impartiality in the Disclosure of Preliminary Voting Results

11:45 a.m.-12:15 p.m. Update on Possible Recommendations of the Market Structure Subcommittee on the Settlement Cycle

12:15-2:00 p.m. Non-Public Subcommittee Meetings and Lunch

2:00-2:45 p.m. Commission Staff Briefing on Municipal Finance Bond Market Transparency

2:45-3:30 p.m. Discussion of Issuer Adoption of Fee-Shifting Bylaws for Intra-Corporate Litigation (which may include presentations by outside experts and/or Commission staff)

3:30-4:40 p.m. Subcommittee Reports/Discussion

4:00 p.m. Adjourn

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