Strengthening the Office of the Investor Advocate Act

This bill revises provisions governing the Office of the Investor Advocate at the Securities and Exchange Commission (SEC). Specifically, the bill

• expands who may serve as the Investor Advocate,
• provides that the Investor Advocate may only be removed by the chair of the SEC and may not be removed for advocating policies contrary to the chair or any commissioner,
• allows the office to publish the results of investor research and testing without review from the SEC, and
• establishes a budget request process for the office separate from the SEC.