ASA Welcomes Senate Banking Committee on Capital Formation
Meaningful improvements can provide small businesses with the capital necessary to create jobs and grow the economy
WASHINGTON, D.C. – Today, the American Securities Association (ASA) issued a statement following the Senate Banking Subcommittee on Securities, Insurance, and Investment hearing on how capital markets serve diverse entrepreneurs and investors.
“We appreciate the bipartisan efforts of this Committee to focus on capital formation because meaningful changes can provide small businesses in rural and urban communities across the country with the capital they need to create jobs and grow our economy,” ASA CEO Chris Iacovella said. “Our agenda is focused on decreasing costs for startup companies looking to raise capital, increasing research coverage for small public companies, and pursuing a market structure that recognizes small-cap companies trade differently than large-cap companies in today’s market structure. We believe there is momentum to pass a JOBS Act “4.0” bill in the next Congress and look forward to working with members on both sides of the aisle to get this across the finish line.”
As a leading advocate for strong capital formation policy, ASA recently sent a letter to U.S. Securities and Exchange Commission (SEC) urging the agency to refocus on its statutory mission and facilitate a capital formation agenda. ASA has also sent various recommendations to Congress including a letter to the House Financial Services Committee supporting legislation to promote competition in equity market structure and a proposal to the Senate Banking Committee to foster economic growth and capital formation.