ASA Submits Comments on SEC's ABS Concept Release

WASHINGTON – The American Securities Association (ASA) joined a coalition of trade associations submitting comments to the Securities and Exchange Commission (SEC) in response to the Commission's proposal to harmonize the definition of “Asset-Backed Securities” under Regulation AB with that of the Exchange Act.

"If the Commission proceeds with proposals to harmonize or otherwise broaden the definition of ABS under Regulation AB, we urge it to determine that municipal securities do not meet the Exchange Act definition of ABS," the joint trades wrote."

Read the full submission here. 

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The American Securities Association (ASA) 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.