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  • Writer's pictureASA Newsroom

ASA Submits Comments to SEC on Conflicts of Interest Proposal

Outlines recommendations to avoid disrupting well-functioning markets

WASHINGTON, D.C. – Today, the American Securities Association (ASA) submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) in response to its proposal regarding conflicts of interest prohibitions in certain asset-backed securitizations.

“The SEC’s proposal shouldn’t disrupt well-functioning markets, disincentivize legitimate market activity, or raise costs for investors,” ASA General Counsel Jessica Giroux said. “This proposal is unnecessarily broad and goes beyond the scope and intent of Section 621 in addressing betting against ‘designed to fail’ asset-backed securities. We remind the Commission that municipal bonds and their related securitizations were not the target of Congress when it drafted Section 621 of the Dodd-Frank Act, and for that reason, they should be exempt from the final rules.”



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