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WASHINGTON, D.C. – The American Securities Association (ASA), in advance of today’s U.S. House Committee on Education and the Workforce hearing, released the following statement from ASA President & CEO Chris Iacovella on Congress’ oversight of the U.S. Department of Labor’s (DOL) policies and priorities:
“The Labor Department’s rushed fiduciary rulemaking process did nothing but resurrect its 2016 rule from the legal death it suffered 8 years ago. Acting Secretary Su and the Department of Labor are wasting taxpayers’ money adopting an illegal policy that makes it harder for working Americans to save for retirement. ASA commends the Committee for holding this hearing and we look forward to working with Congress to ensure investors and retirees are protected from the all-powerful administrative state.”
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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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