ASA Applauds SEC's Comprehensive Review of Regulation S-K

WASHINGTON – The American Securities Association (ASA) today applauded Securities and Exchange Commission (SEC) Chairman Paul Atkins for instructing the Division of Corporation Finance to engage in a comprehensive review of Regulation S-K.

"ASA applauds Chairman Atkins for taking this important step to reduce the needless cost burden on America's public companies and to make the information investors receive as actionable as possible," said ASA President and CEO Chris Iacovella. "This is exactly what common-sense reform looks like.”

Chairman Atkins rightly noted in his statement that "As Justice Thurgood Marshall suggested in his TSC Industries v. Northway opinion, burying shareholders in an avalanche of immaterial information is a result that neither protects investors nor facilitates capital formation."

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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.