ASA Highlights Wall Street’s Fiduciary Duty as CCP Aggression on Taiwan Rises

WASHINGTON – The American Securities Association (ASA) today highlighted the risks associated with owning a U.S.-listed company that does business in China ahead of a House Select Committee on China hearing titled “Deterrence Amid Rising Tensions: Preventing CCP Aggression on Taiwan."

“ASA applauds the Select Committee on China’s leadership for prioritizing America’s national and economic security and highlighting the CCP’s rising aggression with respect to Taiwan,” said ASA President and CEO Chris Iacovella. “It’s time for Wall Street to prioritize its fiduciary duty to American investors and stop ignoring the political, reputational, and legal risks associated with U.S.-listed companies doing business in Communist China, especially in a scenario where the CCP decides to invade Taiwan."

Last month, Iacovella testified at a Senate Special Committee on Aging and the House Select Committee on the CCP hearing titled “Financial Aggression: How the Chinese Communist Party Exploits American Retirees and Undermines National Security". He also joined Fox Business Network’s Mornings with Maria to discuss the risk posed by China to American investors. 

###

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.