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SEC forms advisory committee to look at fixed-income trading

The Securities and Exchange Commission announced late Thursday that it was creating an industry advisory committee for fixed-income trading.

Among the 22 members selected by the SEC to serve on the Fixed Income Market Structure Advisory Committee are:

Michael Heaney, non-executive director of Legal & General Investment Management America, will be committee chairman, according to a news release.

The committee, modeled after a similar panel focusing on equities that was created in February 2015, will initially work on the corporate bond and municipal securities markets, according to the news release. It will advise the SEC on market structure issues and suggest regulatory changes.