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ASA Statement Ahead of House Financial Services Markup of SEC Oversight Legislation



WASHINGTON, D.C. – The American Securities Association (ASA), in advance of today’s U.S. House Committee on Financial Services markup, sent a letter to Chairman Patrick McHenry (R-NC) and Ranking Member Maxine Waters (D-CA) expressing support for legislation that would protect American investors and reform the U.S. Securities and Exchange Commission (SEC).

 

“ASA commends the members of the House Financial Services Committee and Representative Barry Loudermilk (R-GA) for having the courage to protect the privacy rights of America’s retail investors,” said ASA President & CEO Chris Iacovella. “Over the last three years, the SEC has become increasingly hostile to constitutional principles, congressional authority, and judicial oversight. We look forward to working with members on both sides of the aisle to protect investor privacy, prevent government overreach, and increase congressional oversight of the SEC.”

 

Read the American Securities Association’s letter here.

 

ASA strongly supports numerous legislative proposals reforming the SEC, including H.R. 4551- the Protecting Investors’ Personally Identifiable Information Act, H.R. 8339- the SEC Reform and Restructuring Act, and H.J.Res. 100- Congressional Disapproval of the SEC’s Cybersecurity Disclosure Rule.

 

 

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About the American Securities Association

 

American Securities Association, based in Washington, DC, 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.

 

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