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SEC Adds Two Units for Investor Assistance


Aug. 1, 2007 (SmartPros) The Securities and Exchange Commission announced the addition of two new units within the Office of Investor Education and Advocacy.



The office, formerly known as the Office of Investor Education and Assistance, will add the Office of Policy and Investor Outreach and the Office of Investor Education.

The Office of Policy and Investor Outreach will focus on assessing the views and needs of retail investors and ensuring that those views inform the Commission's regulatory policies and disclosure programs. The Office of Investor Education will be devoted to improving financial literacy and helping investors make informed investment decisions.

The Office of Investor Education and Advocacy, which has contact with thousands of individual American investors through its investor assistance and education programs, is able to provide advice to the SEC on how to advance the interests of America's investors. The office also plays a role in the SEC's key initiatives aimed at retail investors, including using "interactive data" (XBRL) to make disclosure more useful to investors, helping senior citizens to guard against securities fraud, and standing up for investors who want disclosures in 'plain English' and easily available on the Internet.

"Expanding the responsibilities of the Office of Investor Education and Advocacy will help the Commission stay firmly focused on its work to put individual investors first," said SEC Chairman Christopher Cox.

The SEC also announced that Kristin J. Kaepplein, vice president for global compliance operations at Goldman Sachs, will join the SEC as director of the Office of Investor Education and Advocacy, effective Aug. 6.

2007 SmartPros Ltd. All rights reserved.

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