SEC Announces Upcoming Departure of Investor Advocate Cristina Martin Firvida

USA: SEC Announces Upcoming Departure of Investor Advocate Cristina Martin Firvida

The U.S. Securities and Exchange Commission said on November 25, 2025 that Cristina Martin Firvida will leave her role as Director of the Office of the Investor Advocate at the end of January 2026, ending a tenure that began in January 2023.

Office of the Investor Advocate

The Investor Advocate office was created by Congress to give investors a formal voice within the SEC and to ensure that their concerns shape agency decisions and broader securities‑industry policies.

Research on Index‑Linked Annuities

During Martin Firvida’s leadership, the office completed a major research project examining registered index‑linked annuities and investors’ comprehension of these complex retirement products, and it provided the Commission with recommendations to improve disclosure practices.

Data‑Driven Insights on Retail Investing

Additional data‑collection initiatives under her direction gathered real‑time insights into evolving retail‑investor behavior, informing rulemaking through surveys and experimental tests of potential policy impacts.

Comments from SEC Leadership

SEC Chairman Paul S. Atkins remarked, “Our work at the SEC should always be rigorous and responsive to the needs and interests of investors, and Cristina and her staff have provided important policymaking support to the Commission.” He added that the agency wishes her success in future endeavors.

Martin Firvida responded, “It has been a privilege to serve investors and the Commission in this role… I am grateful for the opportunity to spotlight investor aspirations and challenges by providing timely empirical research, expert legal analysis, and direct engagement during a period of rapid change in the capital markets.”

Professional Background

Before joining the SEC, she served as vice president of financial security and livable communities for government affairs at AARP, directing advocacy on pensions, retirement savings, Social Security, and related financial‑service issues. Earlier, she was director of government relations and senior counsel at the National Women’s Law Center.

Education

Martin Firvida earned a cum laude bachelor’s degree in philosophy from Yale University and a cum laude juris doctorate from Cornell Law School, followed by a women’s law and public policy fellowship at Georgetown University Law Center.

This report is based on information from SEC, licensed under Public Domain (U.S. Government Work). Source: Official U.S. Government release.