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ASA Sends Letter on SEC’s Reg Flex Agenda

Urges Commission to advance bipartisan policies that enhance our markets while protecting every American investor.



DALLAS – The American Securities Association (ASA) today sent a letter to the Securities and Exchange Commission (SEC) expressing its views on the Commission’s Regulatory Flex Agenda.

“The ASA and the SEC share the passion and mission to enhance our markets while protecting investors. However, we are concerned the agenda does not reflect the full scope of the SEC’s statutory mission, and undertaking certain policy decisions could entrench the SEC in highly polarized and political debates for years to come,” ASA CEO Chris Iacovella wrote in the letter.

“We are committed to being a helpful partner to advance rulemakings that are necessary to protect investors, maintain fair orderly and efficient markets, and facilitate capital formation,” Iacovella wrote. “That’s why we respectfully urge the SEC to focus on policymaking that can win the support of a broad spectrum of market participants.”

In the letter, ASA outlined its concerns regarding the Consolidated Audit Trail and its ability to protect the privacy of American investors, urged the SEC to prioritize a formal rulemaking to avoid unintended consequences under Rule 15c2-11, and advance bipartisan capital formation proposals to help small and mid-size businesses raise capital.

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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/.