The Securities and Exchange Commission said Wednesday that it has formed an Asset Management Advisory Committee made up of diverse industry professionals to help direct the agency's regulatory approach to emerging issues.

"Asset management is a critical component of our markets and is especially important to Main Street investors," said SEC Chairman Jay Clayton in a statement. "This committee will help the Commission ensure that our regulatory approach to asset management meets the needs of retail investors and market participants at a time when the industry is evolving rapidly."

The committee will offer diverse perspectives on asset management and related advice and recommendations, addressing such topics as trends and developments affecting investors and market participants, the effects of globalization, as well as changes in the role of technology and service providers.

The committee includes individuals representing views of retail and institutional investors, small and large funds, intermediaries and other market participants.

Edward Bernard, senior advisor to T. Rowe Price, has been appointed the initial committee chairman.

Other committee members include Neesha Hathi, executive vice president and Chief Digital Officer, Charles Schwab Corp.; Michelle McCarthy Beck, Chief Risk Officer, TIAA Financial Solutions; Mike Durbin, President, Fidelity Institutional; Paul Greff, Chief Investment Officer, Ohio Public Employees Retirement System; Jeffrey Ptak, Head of Global Manager Research, Morningstar Research Services; Erik Sirri, Professor of Finance, Babson College and Independent Trustee, Natixis Funds, Loomis Sayles Funds and Natixis ETFs.