AMAC Meeting Discusses Diversity, Data and Technology

At the latest meeting of the SEC’s Asset Management Advisory Committee panelists discussed diversity and inclusion in the industry with a focus on broadening opportunities for diverse asset managers. The second half of the program focused on data privacy and the use of  technology in providing investment advice. Chairman Jay Clayton encouraged a robust discussion on diversity and inclusion and perspectives on how the SEC might be able to leverage its resources and that of the industry to provide increased investment services and opportunities to a broader, more diverse base of investors. Commissioner Hester Peirce remarked on the significant challenges some asset managers face in trying to comply with new data privacy protection laws and asked whether the SEC could aid firms as they navigate these difficult waters. Materials from the meeting, including diversity data in the private equity sector and information on the use of technology in providing financial advice, are available here.