ASA Outlines Recommendations to Modernize FINRA's Regulatory Framework

WASHINGTON – The American Securities Association (ASA) sent a letter to the Financial Industry Regulatory Authority (FINRA) outlining policy recommendations to modernize FINRA's regulatory framework.

“We commend FINRA’s willingness to engage with stakeholders and we look forward to further dialogue on modernizing the regulatory framework to reflect the reality of current industry practices," said ASA General Counsel Jessica Giroux. "We urge FINRA leadership to review the practices of its enforcement and examination divisions, as firms continue to find it challenging to thread the needle between robust compliance efforts and the threat of regulation by enforcement."

To read ASA's full letter to FINRA, click here.

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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.