ASA Applauds SEC's Proposed Amendments to Exchange Rule 15c2-11

WASHINGTON – The American Securities Association (ASA) today applauded a proposed amendment to Exchange Act Rule 15c2-11, clarifying the Rule only applies to equity securities.

"ASA applauds Chairman Atkins for clarifying that Rule 15c2-11 should only apply to equity securities, not fixed income," said ASA President and CEO Chris Iacovella. "This action provides regulatory certainty to market participants while avoiding unnecessary liquidity disruptions in the fixed income markets."

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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.