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Schapiro Creates New Senior Advisor Position

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SEC Chairman Mary Schapiro has created a new Senior Advisor to the Chairman position and has named Kayla Gillan, a founding board member of the Public Company Accounting Oversight Board (PCAOB), to fill it.

Gillan will lead multiple projects, including creating a new Investor Advisory Council at the Commission, reconsidering access to the proxy, and evaluating shareholder advisory votes on executive compensation, according to the SEC.

Gillan served at the PCAOB from January 2003 to January 2008 and worked extensively to advocate the needs of investors in the auditing process of U.S. public companies, the SEC says. She previously was General Counsel for the California Public Employees’ Retirement System (CalPERS), where she spent 16 years.

“Kayla has a long and dedicated record of exemplary service to investors, and we welcome her expertise and her passion to meet their needs as she joins us here at the agency that must always be the investor’s advocate,” said Chairman Schapiro in announcing the new position. “Not only will we value Kayla’s proven ability to hear the concerns of the investor community, but also her vast knowledge of corporate governance and risk assessment as the Commission considers important initiatives during a critical time for our markets.”

In a prepared statement, Gillan said she is “eager to play a role in this great agency’s self-evaluation and recommitment to meeting the needs of the investor community as well as the challenges posed by today’s financial regulatory system.”