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ASA Statement on House Passage of Expanding Access to Capital Act



WASHINGTON, D.C. – The American Securities Association (ASA) today issued the following statement from ASA President & CEO Chris Iacovella on the passage of H.R. 2799- the Expanding Access to Capital Act. The legislation facilitates capital formation by strengthening our public markets, helping small businesses and entrepreneurs, and creating new opportunities for all investors.

 

“The American Securities Association applauds the passage of the Expanding Access to Capital Act,” said ASA President & CEO Chris Iacovella. “ASA supports several provisions of the legislation, especially those that would extend JOBS Act reforms to all public company issuers- not just emerging growth companies (EGCs). Additionally, we are pleased the Huizenga Amendment was added to H.R. 2799, as it would allow financial firms to deliver information to investors electronically. Investors should be able to receive financial documents in a more secure, accessible, and less wasteful manner. This amendment is a common-sense policy that makes the overall bill stronger. The need for this bill and further policies that promote capital formation is necessary because this SEC has made it harder and more costly for small businesses across America to access capital.”

 

Earlier this week, ASA sent a letter to House Leadership commending the House and members of the House Financial Services Committee for prioritizing small business capital formation.

 

 

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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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