ASA Applauds SEC Actions to Modernize Proxy Process
Today’s actions fulfill the Commission’s statutory mandate of investor protection, facilitating capital formation, and ensuring our capital markets remain the envy of the world.
WASHINGTON – The American Securities Association (ASA) today applauded actions taken by the Securities and Exchange Commission (SEC) to modernize the proxy advisory process by increasing transparency and accountability measures to benefit and protect Main Street investors.
“ASA applauds Chairman Clayton for modernizing the proxy advisory process in a way that prioritizes America’s mom-and-pop investors and retirements savers over special interests,” said ASA CEO Chris Iacovella. “These reforms will increase the accountability and transparency of the proxy advisory industry, and incentivize small business capital formation. American companies of all sizes will now be able to weigh-in on critical issues before investors vote and can be confident that voting is based upon accurate information. Today’s actions fulfill the Commission’s statutory mandate of investor protection, facilitating capital formation, and ensuring our capital markets remain the envy of the world.”
Last year, ASA sent a letter to the SEC outlining its strong support for proxy advisory process reforms. ASA CEO Iacovella has penned numerous op-eds on the need to reform the proxy process. He has been featured in The Hill, RealClearMarkets, and Morning Consult.
ASA’s regional financial services companies work in communities across the country to create jobs, grow the economy, and increase prosperity for all Americans. The ASA exclusively represents the capital market and private client interests of its members and seeks to promote free market principles making it easier to access financial advice and capital. ASA members help Americans save for retirement, provide Main Street businesses with capital to grow, and advise hardworking Americans how to create and preserve wealth. For the latest updates follow @AmerSecurities and learn more at http://americansecurities.org/.