As many of you already know, the STA has long advocated for policies which improve the marketplace and foster investor trust, integrity and capital formation. As an association comprised of individuals with diverse skill sets, business models and geographical locations, we are a true “grass roots” organization. Over the course of our 80 year history, we have developed certain principles of rulemaking which have withstood the test of time because they have been forged in actual market events by market practitioners.