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ASA Statement on Nomination Hearing of Labor Department’s Julie Su



WASHINGTON, D.C. – The American Securities Association (ASA) today issued the following statement from President & CEO Chris Iacovella on the Senate Health, Education, Labor and Pensions Committee holding a hearing to consider the renomination of Julie Su for Secretary of the U.S. Department of Labor (DOL).

 

“ASA urges Congress to reject the Administration’s renomination of Julie Su as Secretary of Labor. Not only is she not qualified for this position, her actions as an unconfirmed ‘Acting Secretary’ have threatened the livelihood of small businesses, Main Street investors, and workers across the country. The Committee- and the Senate- are conducting a non-transparent process to try to sidestep the Constitution, which is all the more reason to oppose Julie Su’s renomination.”

 

In December 2023, ASA submitted comments to the Labor Department raising concerns regarding the Department’s Retirement Security Rule Proposal, specifically addressing the Agency’s violation of the Administrative Procedure Act and the Constitution’s Appointments Clause.

 

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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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