SEC Chairman Clayton Invites Main Street Investors to ‘Tell Us’ About Their Investor Experience

06/29/2018

Roundtables Will Be Held across the Country to Hear from Investors

FOR IMMEDIATE RELEASE
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Washington D.C.  —  Securities and Exchange Commission Chairman Jay Clayton is inviting Main Street investors from around the country to ‘Tell Us’ about their investor experience through roundtable discussions in several cities. In these roundtables, Main Street investors will be able to speak directly with Chairman Jay Clayton and senior SEC staff about our efforts to enhance retail investor protection and promote choice and access to a variety of investment services and products.

“It has been incredibly informative and gratifying to talk with investors in their own backyards about their expectations regarding relationships with their investment professionals,” said Chairman Clayton.  “Our proposed rules are intended to match our rules with investor expectations and it is crucial that we hear directly from the investors themselves on how we can best ensure that result.”

Already, roundtable discussions about a recently proposed rule regarding the obligations of financial professionals to investors have taken place in Houston and Atlanta.  The next roundtables will take place in July in Miami, Washington, D.C., Philadelphia, and Denver. Investors who are unable to attend one of the roundtables in-person are invited to share their insights with the SEC by going to sec.gov/Tell-Us.

Details about the upcoming investor roundtables, including dates, times, and RSVP information, can found below. Attendees should be retail investors who work with a financial professional and have no affiliation with the financial services industry. Please note that space is limited.

 

  • [+]Miami | Monday, July 9, 2018

    Location: The University of Miami, Founders Hall, 1550 Brescia Ave., Coral Gables, FL 33146
    Time: 2:00 PM-3:30 PM (EDT)
    RSVP: Angela Cruz at axi204@miami.edu or at (305) 284-6554

  • [+]Washington, D.C. | Thursday, July 12, 2018

    Location: U.S. Securities and Exchange Commission, 100 F St., NE, Room 10000, Washington, DC 20549
    Time: 10:30 AM-11:30 AM (EDT)
    RSVP: Suzanne McGovern at at outreach@sec.gov or at 202-551-6459

  • [+]Philadelphia | Tuesday, July 17, 2018

    Location: U.S. Securities and Exchange Commission, Philadelphia Regional Office, 1617 John F Kennedy Blvd., Suite 520, Philadelphia, PA 19103
    Time: 11:00 AM-12:00 PM (EDT)
    RSVP: Suzanne McGovern at at outreach@sec.gov or at 202-551-6459

  • [+]Denver | Wednesday, July 25, 2018

    Location: U.S. Securities and Exchange Commission, Denver Regional Office, Byron G. Rogers Federal Building,1961 Stout St., Suite 1700, Denver, CO 80294-1961
    Time: 10:00 AM-11:30 (MDT)
    RSVP: Suzanne McGovern at at outreach@sec.gov or at 202-551-6459

The roundtable discussions provide an opportunity for the Chairman and staff to hear first-hand from those who will be directly impacted by the Commission’s rules. They also provide a chance for retail investors to share their views on key questions about their relationship with their investment professional that will help inform the disclosure outlined in the proposed rules.

In advance of each roundtable, participants are provided with documents to help inform the discussion: “Which Type of Account is Right for You – Brokerage, Investment Advisory or Both?”; and a feedback form that asks what they think about the summary that describes their relationship with their investment professional. Attendees are retail investors who work with an investment professional and have no affiliation with the financial services industry.

Please note: some roundtables will take place in SEC buildings. To gain entry into these buildings, please bring a valid driver’s license or other government-issued photo identification. The security process includes placing bags, phones, and other items through X-ray equipment. It is advisable to arrive 20 minutes before the start of the roundtable in order to go through security.

Background

On April 18, 2018, the Commission voted to propose a package of rulemakings and interpretations designed to enhance the quality and transparency of investors’ relationships with investment advisers and broker-dealers while preserving access to a variety of types of advice relationships and investment products.  For additional information, see the Commission’s press release, fact sheet and proposed Regulation Best Interest rule here

On April 24, 2018, Chairman Clayton issued a statement announcing that he had asked SEC staff to put together a series of roundtables focused on the retail investor to be held in different cities across the country.  The roundtables are intended to gather information directly from those most affected by the Commission’s rulemaking.

For general information about the investor roundtables, contact Suzanne McGovern from the SEC’s Office of Investor Education and Advocacy at outreach@sec.gov .

 

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