ASA Applauds SEC For Advancing Financial Inclusion

WASHINGTON – The American Securities Association (ASA) today applauded the Securities and Exchange Commission (SEC) following an open meeting in which the Commission considered proposals that would expand financial inclusion for every American investor.

"Chairman Atkins is advancing financial inclusion in a way the SEC has talked about for years but never delivered on," said ASA President and CEO Chris Iacovella. "This SEC wants every American investor to have the ability to participate in the upside of our capital markets, and we support that."

The Commission notably considered whether to designate certain certifications, designations, or credentials as qualifying natural persons for accredited investor status under Rule 501(a)(10) — a shift from wealth and income thresholds toward demonstrated financial knowledge. 

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The American Securities Association (ASA) represents the retail and institutional capital markets interests of regional financial services firms who provide Main Street businesses with access to capital and advise hardworking Americans how to create and preserve wealth. ASA’s mission is to promote trust and confidence among investors, facilitate capital formation, and support efficient and competitively balanced capital markets. This mission advances financial independence, stimulates job creation, and increases prosperity. The ASA has a geographically diverse membership of almost one hundred members that spans the Heartland, Southwest, Southeast, Atlantic, and Pacific Northwest regions of the United States.