The Securities and Exchange Commission today announced the members of a new Equity Market Structure Advisory Committee, which will focus on the structure and operations of the U.S. equities markets.
The committee will provide a formal mechanism through which the Commission can receive advice and recommendations specifically related to equity market structure issues.
The members of the committee come from different sectors of the financial services industry, academia and from public interest groups. The members were approved by all five Commissioners.
“Additional expertise from a diversity of backgrounds and viewpoints will be invaluable to us in ensuring that our markets continue to operate openly, fairly and efficiently to benefit investors and promote capital formation,” said SEC Chair Mary Jo White. “This impressive committee will provide extremely helpful input as we continue to move forward in our efforts to enhance our equity market structure.”
Among the issues the committee is expected to be asked to discuss are those relating to the review of SEC Regulation NMS (national market system), the role of exchanges in the current market structure, and the presence and effect of conflicts in the routing and execution of equity orders.
The committee is expected to hold public meetings approximately four times a year. The committee’s first meeting is expected to be held after the announcement of the establishment of the committee is published in the Federal Register. The committee has a two-year term, which can be renewed by the Commission.
Stephen Luparello, Director of the Division of Trading and Markets, will be the designated federal officer on the committee.
Members of the Equity Market Structure Advisory Committee are: