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ASA Submits Comments to MSRB on Impact of Municipal Market Regulation on Small and Mid-Sized Firms

WASHINGTON, DC - The American Securities Association (ASA) today submitted a comment letter to the Municipal Securities Rulemaking Board (MSRB) on the impact of municipal market regulation on small and mid-sized firms operating in the municipal securities market.


“Financial regulators, including the MSRB, have embarked on rulemaking agendas that could threaten the participation of small and mid-sized broker-dealers in the municipal securities market now and into the future,” said Jessica Giroux, ASA General Counsel & Head of Fixed Income Policy. “Well-capitalized firms with more resources can easily absorb additional regulatory costs, while small-and medium-sized firms bear the brunt of these burdens. The MSRB, SEC, and other financial regulators continue to reduce the viability and health of small-and medium-sized firms who serve retirement savers, Main Street businesses, and communities across America by imposing outsized costs on them each time they adopt a new proposal.”


Read the American Securities Association’s full comment letter here.







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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