On August 21, 2025, the National Society of Compliance Professionals (NSCP) sent the SEC a letter proposing the creation of a compliance advisory committee (Committee) that would “provide expert guidance and recommendations to the SEC on compliance-related issues affecting broker-dealers, investment advisers and other similar regulated entities.” The idea is that the Committee would “serve as a conduit for industry perspectives, identifying practical solutions to enhance compliance processes, mitigate risks and address regulatory priorities.” The Hedge Fund Law Report spoke to Lisa Crossley, the NSCP’s executive director and CEO, about the proposed committee framework (Proposal), which was also endorsed by the Investment Advisers Association, Financial Services Institute and Insured Retirement Institute. This article summarizes the Proposal and shares Crossley’s thoughts on why the NSCP issued the Proposal; how it envisions the Committee working; ways the Committee could benefit the SEC and industry stakeholders; and the likelihood the SEC will consider creating the Committee. For more insights from Crossley, see “Personal Liability and Compliance Resourcing Are Top Concerns Among CCOs, Surveys Show” (Jan. 13, 2022).