ASA Commends SEC for Taking Action to Combat Elder Investor Fraud

ASA members work hard every day to weed out and combat elder investor fraud, and we commend the SEC for hosting today’s roundtable.

WASHINGTON – The American Securities Association (ASA) today commended the Securities and Exchange Commission (SEC) for hosting a roundtable to combat elder investor fraud and once again urged regulators to impose stricter penalties on recidivist brokers—including lifetime bans from the industry—to help weed out the worst actors that harm America’s Main Street investors and retirement savers.

“ASA members work hard every day to weed out and combat elder investor fraud, and we commend the SEC for hosting today’s roundtable here in Washington to focus on this important investor protection issue,” said ASA CEO Chris Iacovella. “We remain committed to working with the SEC and FINRA to ensure the worst actors are automatically barred from the industry and never get a chance to take advantage of investors ever again.”

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ASA’s regional financial services companies work in communities across the country to create jobs, grow the economy, and increase prosperity for all Americans. The ASA exclusively represents the capital market and private client interests of its members and seeks to promote free market principles making it easier to access financial advice and capital. ASA members help Americans save for retirement, provide Main Street businesses with capital to grow, and advise hardworking Americans how to create and preserve wealth. For the latest updates follow @AmerSecurities and learn more at http://americansecurities.org/.