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  • Writer's pictureASA Newsroom

ASA Submits Comments to SEC on FINRA’s Remote Inspection Pilot Program

WASHINGTON, DC – The American Securities Association (ASA) today submitted comments regarding FINRA’s (Financial Industry Regulatory Authority) proposed changes to the SRO’s Remote Inspection Pilot Program.

“ASA largely supports and appreciates FINRA’s ongoing efforts to adopt how advancements in technology and communication have transformed certain practices within the broker-dealer industry,” said ASA President & CEO Chris Iacovella. “The SEC and FINRA would serve the industry well by recognizing that a move toward a permanent remote inspection and remote supervision regime is appropriate as industry firms have proven without market incident that remote supervision works and has not caused any disruption in customer protection.”

In May 2023, ASA submitted comments to the SEC in response to FINRA's proposed changes to its Remote Inspections Pilot Program and Residential Supervisory Location proposals under FINRA Rule 3110.

In September 2022, ASA sent a letter to the SEC supporting FINRA’s Pilot Program proposal and argued that the Pilot Program must be considered in conjunction with FINRA’s Residential Supervisory Location proposal.

The full comment letter can be found 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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