The American Securities Association (ASA), a financial trade group, called on Securities and Exchange Commission (SEC) Chair Gary Gensler to immediately resign from his post following the reelection of former President Trump.

"Last night the people voted for this country to take a new direction, and Chairman Gensler should respect that vote by stepping down from his position immediately," ASA President and CEO Chris Iacovella wrote in statement Wednesday.

"This is the only way for America's working families, retirement savers, and small businesses to rebuild their trust and confidence in the institution of the SEC," Iacovella added.

The statement from the ASA, which represents large asset managers, came less........

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