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WASHINGTON, D.C. – The American Securities Association (ASA) today issued the following statement from President & CEO Chris Iacovella on the bipartisan, bicameral introduction of Congressional Review Act (CRA) to overturn the U.S. Department of Labor’s (DOL) Retirement Security Rule:
“We commend Senators Ted Budd (R-NC), Joe Manchin (D-WV), Bill Cassidy (R-LA), Roger Marshall (R-KS) and Congressman Rick Allen (R-GA) for introducing resolutions to permanently protect retirement savers and investors from losing access to important retirement savings options. The DOL’s rushed rulemaking conflicts with existing securities regulations and will create unnecessary confusion for hardworking Americans trying to save for retirement. ASA will continue to work with our members and Members of Congress to protect the interest of America’s investors.”
On May 15th, ASA joined 12 trade associations in sending letters of support to the U.S. House and U.S. Senate, urging congressional action in order to protect America’s workers and retirees from the DOL’s Retirement Security Rule.
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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.