The U.S. Securities and Exchange Commission published remarks by its Chair to the Investor Advisory Committee, where he thanked new committee members and new executive committee leaders and highlighted two issues discussed at the quarterly meeting. He pointed to investor protection questions around expanding retail access to private markets and to the growing concentration of voting power in passive investment vehicles as areas of importance for the Commission’s work. On private markets, he said growth and innovation should be pursued alongside orderly markets and investor protection as the Commission considers its role in widening exposure to capital markets. On passive funds, he reiterated that reviewing how these vehicles vote, and the influence of proxy advisers on those votes, remains a leadership priority because of the implications for corporate governance and for investment advisers’ fiduciary duty to vote client proxies in their clients’ best interests. He said he expects further engagement in the coming months on the issues explored at the meeting.
U.S. Securities & Exchange Commission2026-06-04
U.S. Securities and Exchange Commission Chair reiterates private market access and passive fund voting priorities at Investor Advisory Committee meeting
The U.S. Securities and Exchange Commission published remarks by its Chair to the Investor Advisory Committee highlighting investor protection issues related to expanding retail access to private markets and the concentration of voting power in passive investment vehicles. He stressed that any widening of private market access must align growth and innovation with orderly markets and investor protection, and that oversight of proxy voting practices by passive funds and proxy advisers remains a priority given its implications for corporate governance and advisers’ fiduciary duties.