The American Securities Association (ASA) has issued a call for Gary Gensler, chairperson of the Securities Exchange Commission (SEC), to resign immediately. Chris Iacovella, president and chief executive of the ASA, said: "The voters have voted that this country needs a new direction and Chairperson Gensler should respect that vote and resign immediately. This is the only way for working families, retired savers and small businesses to rebuild trust and confidence in the SEC as an institution."