ASA Applauds Senate Confirmation of Chairman Gensler
We believe he will be a strong, independent voice for America’s working families, retirees, and savers.
WASHINGTON – The American Securities Association (ASA) today applauded Senate confirmation of Gary Gensler to serve as Chairman of the Securities and Exchange Commission (SEC).
“ASA congratulates Chairman Gensler on his bipartisan Senate confirmation vote and we believe he will be a strong, independent voice for America’s working families, retirees, and savers who invest in our markets for a better future,” said ASA CEO Chris Iacovella. “We were proud to support his nomination to lead the SEC and look forward to working together on several issues critical to protecting and maintaining investor confidence in our capital markets.”
Last month, ASA sent a letter to the Senate Banking Committee supporting Gensler’s nomination. In the letter, ASA outlined several SEC priorities including:
Protecting the personal information of retail investors by eliminating the collection of their personally identifiable information (PII) by the Consolidated Audit Trail (CAT);
Maintaining Regulation Best Interest (Reg BI) as the national standard of care for broker-dealers when providing investment advice;
Holding Wall Street accountable by examining whether “naked” short selling is happening, reviewing stock lending practices, and proposing reforms to Reg SHO;
Developing and implementing a capital formation agenda that increases participation and access for all Americans while helping small and middle market businesses raise capital they need to grow and create jobs;
Implementation of the Holding Foreign Companies Accountable Act to prohibit U.S. listings of fraudulent companies controlled by the Chinese Communist Party (CCP); and
Working together on disclosure, investor choice, and bond classification related to environmental, social and governance matters for public companies.
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/.