The Securities and Exchange Commission on Monday announced four new members to fill vacancies on its Investor Advisory Committee.
Three of the appointees will serve four-year terms. The fourth, John Liu, will serve as the designated representative of the interests of senior citizens, one of three statutory seats on the committee.
The new members are: law firm partner Patrick Daugherty of Foley & Lardner; Liu, a former Managing Director at Accenture and co-founder of Agile Partners; Sheldon L. Ray Jr., a former Senior Vice President and Portfolio Manager at Raymond James & Associates; and Adriana Z. Robertson, Professor of Business Law at the University of Chicago Law School.
The four join nine current committee members. The committee was established under Section 39 of the Securities Exchange Act of 1934 and advises the Commission on regulatory priorities and initiatives aimed at investor protection and market integrity.
Recent committee agenda items have included tokenization of equity securities, retail investor access to private markets, and foreign private issuer rules, SEC committee materials show.
The SEC said it expects another candidate search in late 2026 or early 2027. The regulator also appointed four new members to the committee in September 2025.
