SEC Chairman Clayton Announces Event for Main Street Investors in Chicago

Securities and Exchange Commission Chairman Jay Clayton today announced an event for Main Street investors to be held in Chicago on Thursday, August 15.

Chairman Clayton will participate in a roundtable with Main Street investors as part of the SEC’s ongoing investor engagement and education efforts. The roundtable will focus on issues relevant to Main Street investors, such as tips to avoid fraud, the impact of fees and costs, and the key differences between broker-dealers and investment advisers. It is the latest in a series of investor engagement and education events that included a previous investor roundtable held earlier this summer in Boston.  Director Lori Schock from the SEC’s Office of Investor Education and Advocacy is expected to join Chairman Clayton at this event.

“I have heard from investors around the country that they wish they knew more about investing, including how to identify various red flags of fraudulent investment schemes and understanding the impact that fees and costs can have on investments,” said Chairman Clayton. “Helping Main Street investors make informed decisions about their financial future continues to be one of my top priorities as Chairman. An important part of this process is to hear directly from Main Street investors of all types. I look forward to a productive discussion in Chicago.”

Details about the upcoming event can be found below. The event is free and open to the public and the media. Participants in the investor roundtable should be retail investors, including those who work with, or are considering working with, a financial professional. Please note that the number of participants for the event may be limited.

Main Street Investor Roundtable

• Location: U.S. Securities and Exchange Commission, Chicago Regional Office – 175 W. Jackson Blvd. Chicago, IL 60604
• Date: August 15, 2019
• Time: 10:30 a.m. to 11:30 a.m., Registration begins at 10:00 am
• RSVP: CHICAGO@sec.gov

Background

On June 5, 2019, the Securities and Exchange Commission adopted a package of rulemakings and interpretations designed to enhance the quality and transparency of retail investors’ relationships with investment advisers and broker-dealers, bringing the legal requirements and mandated disclosures in line with reasonable investor expectations, while preserving access (in terms of choice and cost) to a variety of investment services and products. Specifically, these actions include new Regulation Best Interest, the new Form CRS Relationship Summary, and two separate interpretations under the Investment Advisers Act of 1940. Chairman Clayton previously announced that events such as these would be part of a new campaign designed to help retail investors understand key differences between broker-dealers and investment advisers, and to help them decide whether working with one of those types of financial professionals is right for them. This campaign will also feature a series of short educational videos and updates to the SEC’s investor education website, Investor.gov.