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  • Writer's pictureASA Newsroom

ASA Statement on Expiration of MiFID II No-Action Relief



WASHINGTON, DC - American Securities Association (ASA) today issued the following statement from President and CEO Chris Iacovella regarding the expiration of the U.S. Securities and Exchange Commission staff’s no-action MiFID II relief:


“We are greatly disappointed by the SEC’s decision to not extend critical MiFID II relief. Numerous market participants raised concerns about the potential consequences, the SEC’s Small Business Capital Formation Advisory Committee unanimously recommended an extension, and it’s even been reported the EU and U.K. policymakers are considering amendments to MiFID II requirements. Because the SEC chose to go down this avoidable path, it now owns the unnecessary harm this decision will have on American small businesses and the competitiveness of our capital markets.”



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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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