The Securities and Exchange Commission (SEC) has posted its agenda for its upcoming meeting of the Investor Advisory Committee which will take place this week.
The Committee has scheduled two-panel discussions: the first is about ethical artificial intelligence and “Robo-adviser” fiduciary responsibilities, and the second is regarding cybersecurity.
The meeting is open to the public and will be live-streamed on the SEC website on March 10 at 10:00 a.m. ET.
The agenda is posted below.
U.S. Securities and Exchange Commission
Investor Advisory Committee
March 10, 2022
| 10:00 a.m. – 10:25 a.m. | Welcome Remarks |
| 10:25 a.m. – 10:30 a.m. | Departure Remarks from J.W. Verret and Paul Mahoney |
| 10:30 a.m. – 10:35 a.m. | Approval of Previous Meeting Minutes |
| 10:35 a.m. – 12:00 p.m. | Panel Discussion Regarding Ethical AI and RoboAdvisor Fiduciary Responsibilities
This panel will focus on the ethical issues and fiduciary responsibilities related to the use of artificial intelligence in the development and application of roboadvising techniques. It will attempt to provide an overview of the current state of roboadvising, focus on algorithms, analyze the tradeoffs between AI-powered advice vs. personal recommendations, explain the jargon, potential bias, and blindspots around roboadvice, and review what is happening in the larger related space. Additionally, the panel will explore what constitutes “advice” in this quickly-advancing age. Moderated by: Paul Sommerstad, Partner, Cerity Partners Panelists:
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| 12:00 p.m. – 1:30 p.m. | Lunch/Non-Public Administrative Session |
| 1:30 p.m. – 3:00 p.m. | Panel Discussion Regarding Cybersecurity
This panel will focus on the growing importance of cybersecurity, and the growing role it is playing as investors try to understand a company’s risk profile. Our speakers will provide an overview of the cybersecurity landscape, the impacts of attacks, and a review of current disclosure requirements and the information being provided to investors. Additionally, we will discuss what investors want to know and specific suggestions as to how current disclosure requirements could be changed to better ensure that investors are provided more relevant information without compromising the company’s approach to security. Moderated by: Cambria Allen-Ratzlaff, Corporate Governance Director, UAW Retiree Medical Benefits Trust and Brian Hellmer, Chief Investment Officer, Global Public Market Strategies, State of Wisconsin Investment Board Panelists:
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| 3:00 p.m. – 3:15 p.m. | Subcommittee Reports |
| 3:15 p.m. | Closing Remarks and Adjourn |