ASA Welcomes SEC’s Cyber and Emerging Technologies Unit

WASHINGTON – The American Securities Association (ASA) today welcomed an announcement from the Securities and Exchange Commission (SEC) creating the Cyber and Emerging Technologies Unit (CETU) to combat cyber-related misconduct and protect retail investors. 

“Cyber armies from China and Russia continue to target Americans, hack into their systems, and ruin lives by stealing their most sensitive personal and financial information,” said ASA President and CEO Chris Iacovella. “We are pleased to see the SEC take steps to identify and prevent nation state actors from using a business model approach to perpetrate scams on American investors. Ending the collection of personal and financial information by the SEC’s national registry was an important first step and this Unit is another.”

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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.