be deemed to have been provided to a person if the Commission approved a statement or guidance, in accordance with Section 4I, with respect to the conduct that is the subject of the enforcement action, prior to the time that the person engaged in the conduct that is the subject of the enforcement action. . 820. Advisory committee on Commission’s enforcement policies and practices (a) Establishment Not later than 6 months after the date of the enactment of this Act, the Chairman shall establish an advisory committee on the Commission’s enforcement policies and practices (in this section referred to as the Committee ). (b) Duties (1) Analysis and recommendations (A) In general The Committee shall conduct an analysis of the policies and practices of the Commission relating to the enforcement of the securities laws and make recommendations to the Commission regarding changes to such policies and practices. (B) Specific matters included In carrying out subparagraph (A), the Committee shall analyze and make recommendations to the Commission regarding matters including the following: (i) How the Commission’s enforcement objectives and strategies may be more effective. (ii) The Commission’s enforcement practices and procedures from the point of view of due process, the relationship of enforcement action to notice of legal requirements, the attribution of responsibility for violations, and the protection of reputation and rights of privacy. (iii) The Commission’s enforcement policies and practices in light of its statutory responsibility to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. (iv) The appropriate blend of regulation, publicity, and formal enforcement action and on methods of furthering voluntary compliance. (v) Criteria for the selection and disposition of enforcement actions, the adequacy of sanctions authorized by law, and the suitability and effectiveness of sanctions imposed by the Commission proceedings. (2) Report Not later than 1 year after the