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Regulation and Compliance > Federal Regulation > SEC

Luis Aguilar, Ron Carson Join Institute for the Fiduciary Standard Advisory Board

By James J. Green

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The Institute for the Fiduciary Standard has added four industry notables to its Board of Advisors, joining Vanguard founder John Bogle and Tamar Frankel, law professor at Boston University.

The new advisory board members are former SEC Commissioner Luis Aguilar, noted advisor Ron Carson, author and consultant Dan Solin and former academic Woodrow Leake.

Institute President Knut Rostad (a regular blogger for ThinkAdvisor) said in a statement that the new advisory board members will “provide their expertise to further the Institute’s mission and assist in programing.” Rostad said “2016 was a high note for the Institute and 2017 programing will only expand,” saying the Institute’s “research and education programs are more vital than ever for advisors and investors.”

Aguilar was appointed to the Securities and Exchange Commission in July 2008 by President George W. Bush and reappointed by President Barack Obama in 2011. Departing the agency at the end of 2015, Aguilar became the eighth-longest serving commissioner in SEC history.

Related: Piwowar Likely SEC Acting Chair, Could Be New Chair: Ex-Commissioner Aguilar

In an email, Rostad said that Aguilar’s “ongoing counsel, as the most experienced former SEC commissioner,” has already been “very valuable to the Institute,” saying he has “already spoken out” in favor of the Institute’s fiduciary best practices affirmation program.

Rostad released a statement from the founder and CEO of the Carson Group in which Carson said “putting our clients’ interests ahead of our own has always been the underlying focus of our firm.”

Carson continued by saying he is “excited to play a part in advancing that inspiring mission” by joining the Institute’s National Board of Advisors. “It’s our responsibility, as advisors,” he said, “to answer the call for complete transparency, and the Institute for the Fiduciary Standard’s Best Practices Affirmation Program will play a fundamental role in that endeavor.”

— Check out What DOL Fiduciary Victory Feels Like: The Texas Court Decision by Knut Rostad on ThinkAdvisor.

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