U.S. Securities & Exchange Commission Acting Chairman outlines Investor Advisory Committee priorities and plans artificial intelligence roundtable for March 27

The U.S. Securities & Exchange Commission published remarks by Acting Chairman Mark T. Uyeda to the first Investor Advisory Committee meeting of 2025, highlighting the Commission’s ongoing recruitment for committee vacancies and the agenda topics for the meeting, including retail investor fraud, artificial intelligence in securities markets, and share traceability in Section 11 prospectus liability claims. Uyeda noted that applications to fill committee vacancies are due by March 15. On retail fraud, he pointed to increasingly sophisticated scams and referenced continued investor education efforts, alongside the Division of Enforcement’s work to uncover securities fraud, seek recovery of stolen funds where possible, and pursue wrongdoing. On AI, he cited both innovation and potential risks and said the Division of Economic and Risk Analysis and the Division of Examination will host a roundtable on March 27 to explore AI-related issues. The Committee is also discussing a proposed recommendation on traceability of shares for Section 11 claims under the Securities Act of 1933, referencing the Supreme Court’s requirement that plaintiffs prove their shares are traceable to a registration statement. Next steps include the March 15 deadline for committee candidates, the March 27 AI roundtable, and a forthcoming read-out of the Committee’s discussions and any recommendations.