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WASHINGTON – The American Securities Association (ASA) sent a letter of support to House leadership ahead of expected floor votes on a package of bills to remove politics from the U.S. capital markets.
“ASA applauds the House for taking action to remove politics from our capital markets, protect investors from paying for the political agendas of special interests, and restore the public company model to its rightful place as a source of growth and job creation in the American economy,” said ASA President and CEO Chris Iacovella.
“America’s capital markets are a national treasure because of the transparency and accountability U.S. law has provided investors for decades,” Iacovella wrote in the letter. “When our capital markets devolve into a political battleground over hot-button issues, it’s America’s working families, retirees, pensioners, and Mr. and Mrs. 401k that pay the price.”
In the letter, ASA highlighted how H.R. 4790 and H.R. 5339 should be viewed as the first step to getting politics out of the capital markets and ensuring that regulators like the Securities and Exchange Commission actually do the job Congress authorized them to do.
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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.
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