Investor Advisory Committee Meeting Agenda

Panel Discussion: Reconsidering the Eligibility Criteria and Regulatory Treatment of Foreign Private Issuers (Part I)

This panel will explore the evolving landscape of foreign private issuers (FPIs) in U.S. capital markets and evaluate potential regulatory responses to address emerging risks to investors and market integrity. The discussion is prompted by the SEC’s June 4, 2025 Concept Release on the Definition of Foreign Private Issuer, which identifies major shifts in where FPIs are incorporated, headquartered, and primarily traded.

Moderated by:

• George S. Georgiev, Professor of Law, University of Miami School of Law; Member & Officer of the SEC Investor Advisory Committee

Panelists:

• Mr. Ashley Alder, Chair of the Board of the UK Financial Conduct Authority; former CEO of the Hong Kong Securities & Futures Commission; former IOSCO Board Chair
• Ms. Helen Boyd, Director of Market Oversight, UK Financial Conduct Authority
• Mr. Daniel Taylor, Professor of Accounting, Wharton School of Business, University of Pennsylvania
• Ms. Yuliya Guseva, Professor of Law, Rutgers Law School  
• Mr. John Horsfield-Bradbury, Managing Partner (London), Sullivan & Cromwell LLP

Panel Discussion: Reconsidering the Eligibility Criteria and Regulatory Treatment of Foreign Private Issuers (Part II)

Panelists:

• Mr. Jeff Mahoney, General Counsel, Council of Institutional Investors 
• Mr. Paul Dudek, Partner, Latham & Watkins LLP (Washington, D.C.); Former Chief of the SEC’s Office of International Corporate Finance.

3:30 p.m. – 4:30 p.m.

Discussion of Recommendations Regarding Retail Investor Access to Private Market Assets

The Investor Advisory Committee will consider and vote on recommendations pertaining to the regulatory framework governing retail investors’ access to private market assets.

Moderated by:

• Paul Roye, Vice Chair of the SEC Investor Advisory Committee
• Andrea Seidt, Ohio Securities Commissioner; Chair of the Investor-as-Owner Subcommittee of the Investor Advisory Committee

4:30 p.m. – 5:00 p.m.

Subcommittee Reports

5:00 p.m.

Closing Remarks and Adjourn