ASA Urges Congress to Include China Investment Prohibition in NDAA

WASHINGTON – The American Securities Association (ASA) today called on Congress to include new restrictions on American investment into Communist China in the National Defense Authorization Act (NDAA) funding bill.

"A bipartisan Congress should come together through the NDAA process to stop Americans from financing Communist China's AI-military-industrial complex," said ASA President and CEO Chris Iacovella. "While this bill can and should go further, Washington must seize this opportunity to protect America's long-term economic and national security. ASA strongly supports Chairman Moolenaar and Congressional leadership's efforts to get this done."

In April, Iacovella testified at a joint hearing with the Senate Special Committee on Aging and the House Select Committee on the Chinese Communist Party (CCP) titled “Financial Aggression: How the Chinese Communist Party Exploits American Retirees and Undermines National Security". Iacovella joined Fox Business Network's Mornings with Maria to discuss his testimony and the threat China poses to every American.

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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.