ASA Statement on Senate Confirmation of Paul Atkins to Lead SEC

WASHINGTON – The American Securities Association (ASA) applauded the Senate for confirming Paul Atkins to lead the Securities and Exchange Commission (SEC).

“ASA applauds the Senate for confirming Mr. Atkins to lead the SEC, and the country will benefit from his deep understanding of the U.S. capital markets, his willingness to appropriately balance the costs and benefits of regulation, and his desire to protect American investors from the avalanche of scam centers and frauds,” said ASA President and CEO Chris Iacovella. "We look forward to partnering with Mr. Atkins to reform the SEC and free up small businesses to restore American prosperity.”

Iacovella has known Mr. Atkins for many years and last month sent a letter urging the Senate to quickly confirm him.

In the letter, ASA expressed its desire to work with an Atkins-led SEC and Trump administration on several matters including but not limited to:

In the letter, ASA expressed its desire to work with an Atkins-led SEC and Trump administration on several matters including but not limited to:

·    Removing personally identifiable information from the Consolidated Audit Trail;

·    Reprioritizing small business capital formation;

·    Depoliticizing the capital markets and proxy process;

·    Changing the current leadership of the MSRB;

·    Ending the Chinese Communist Party’s exploitation of our capital markets through the ‘passive index loophole’;

·    Protecting American firms and investors from fraudulent scams perpetrated by sophisticated cybercriminals and nation-state actors using ever-evolving technology;

·    Ending the practice of ‘creative lawyering’ by the enforcement division; and

·    Implementing tailored regulations that do not disproportionately impact America’s small businesses or needlessly impose costs on retail investors. 

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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.