Chris Iacovella's guest appearances

Chris Iacovella

Securing America with Frank Gaffney Podcast

The Bill Walton Show

Brigitte Gabriel

Steven Mosher

Carol Swain

Eric Metaxas

Kenny Vaughan

Chris Stewart

John Solomon

Michael Anton

Mike Pompeo

Mark Hyman

Michael Walsh

Douglas Murray

Ted Cruz

Ryan Williams

Michael Pack

OwlTail

A slew of financial crises that stretch all the way back to the banking Panic of 1907 have been exploited to justify erecting a financial regulatory system that has vastly centralized and expanded federal power over our money.  The irony is that these crises were largely caused, or at least exacerbated, by poorly designed government regulations.  What we have now is an unholy alliance of regulators, mega banks and entrenched special interests who are the chief beneficiaries our system of opaque and complex financial regulation. Adding to this mix is the progressive Left who are now using our financial system to push its DEI and climate change agendas.  Joining me on this episode to explore some of what should be our main concerns and to point the way to solutions are Chris Iacovella, the president of the American Securities Association and Norbert Michel, the director of Cato Institute’s Center for Monetary and Financial Alternatives. Both are deep subject matter experts who know their way around most every nook and cranny of the deep regulatory state. Read More:    https://billwalton.substack.com/p/financial-regulation-boring-or-terrifying?sd=pf

A slew of financial crises that stretch all the way back to the banking Panic of 1907 have been exploited to justify erecting a financial regulatory system that has vastly centralized and expanded federal power over our money.  The irony is that these crises were largely caused, or at least exacerbated, by poorly designed government regulations.  What we have now is an unholy alliance of regulators, mega banks and entrenched special interests who are the chief beneficiaries our system of opaque and complex financial regulation. Adding to this mix is the progressive Left who are now using our financial system to push its DEI and climate change agendas.  Joining me on this episode to explore some of what should be our main concerns and to point the way to solutions are Chris Iacovella, the president of the American Securities Association and Norbert Michel, the director of Cato Institute’s Center for Monetary and Financial Alternatives. Both are deep subject matter experts who know their way around most every nook and cranny of the deep regulatory state. Read More:   <a href="https://billwalton.substack.com/p/financial-regulation-boring-or-terrifying?sd=pf" rel="nofollow" target="_blank"> https://billwalton.substack.com/p/financial-regulation-boring-or-terrifying?sd=pf</a>

Episode 237: Financial Regulation: Boring, or Terrifying? with Chris Iacovella and Norbert Michel

When Walmart went public in 1970 and soon thereafter listed on the New York Stock Exchange, its SEC disclosure prospectus was 20 pages long.  Today, a prospectus requires massive numbers of mostly obscure disclosures imposing very real liabilities for the issuing company - but which no one reads, except for lawyers who charge $2,000 an hour to read it and to write it - and which can run upwards to 300 pages or more.  Under President Joe Biden’s whole of government effort to weaponize federal agencies, this regulatory creep has become an outright onslaught of new regulations. Except now it brings an overt political agenda to promote ESG and “equity” outcomes. Case in point is the SEC under Chairman Gary Gensler (who was Hillary Clinton Campaign’s CFO), which has proposed 55 new rules and massive climate change disclosure requirements without any mandate from Congress. “Over the last two years, we've seen more rules than we've ever seen before,” explains my guest on this episode Chris Iacovella, “the amount of paper, the amount of costs that are being heaped on companies, not just in the financial services space, but in every sector of our economy, are far outweighing whatever good they are supposed to be doing.” Chris Iacovella is in a position to know. He is the President and Chief Executive Officer of the American Securities Association, and has deep expertise in the equity, fixed income, and derivatives markets, as well as growth capital and wealth management. Prior to becoming CEO of the ASA, he was the CEO of the Equity Dealers of America and Director of Global Government Affairs at Bloomberg LP.  “Gensler claims that he has to do this because investors are clamoring for this disclosure, but it's not investors that are clamoring for it. It's Wall Street asset managers, investment banks, and institutional investors who are pushing an ESG political agenda into the boardroom that they can't get through Congress.” This is just one of the many concerning issues we get into in this episode. Some others:   The higher fees Wall Street charges for its ESG funds.   Klaus Schwab (of the World Economic Forum) and his “stakeholder” capitalism and how Wall Street has adopted many of his views.    Public company security regulations seeping into private businesses.   A long segment about how the Chinese have used the US capital markets to access to American capital and allowing them to fund their military and economic rise with our money.   Something obscurely called the Consolidated Audit Trail where the SEC has decided to add to its surveillance capabilities, the ability to collect all of the personal and financial information of every investor who has a share of stock in our capital markets.    “Can you imagine if the SEC entered into a memorandum of understanding with the IRS? Then the government would have a true and complete picture of not only your securities holdings, but also any businesses that you might own that are private, any real estate that you may own. It's would be complete picture of what your wealth is.” There’s a lot to unpack in this episode, but I think you’ll find it worth your time.

When Walmart went public in 1970 and soon thereafter listed on the New York Stock Exchange, its SEC disclosure prospectus was 20 pages long.  Today, a prospectus requires massive numbers of mostly obscure disclosures imposing very real liabilities for the issuing company - but which no one reads, except for lawyers who charge $2,000 an hour to read it and to write it - and which can run upwards to 300 pages or more.  Under President Joe Biden’s whole of government effort to weaponize federal agencies, this regulatory creep has become an outright onslaught of new regulations. Except now it brings an overt political agenda to promote ESG and “equity” outcomes. Case in point is the SEC under Chairman Gary Gensler (who was Hillary Clinton Campaign’s CFO), which has proposed 55 new rules and massive climate change disclosure requirements without any mandate from Congress. “Over the last two years, we've seen more rules than we've ever seen before,” explains my guest on this episode Chris Iacovella, “the amount of paper, the amount of costs that are being heaped on companies, not just in the financial services space, but in every sector of our economy, are far outweighing whatever good they are supposed to be doing.” <a href="https://www.americansecurities.org/team" rel="noopener noreferrer nofollow" target="_blank">Chris Iacovella</a> is in a position to know. He is the President and Chief Executive Officer of the American Securities Association, and has deep expertise in the equity, fixed income, and derivatives markets, as well as growth capital and wealth management. Prior to becoming CEO of the ASA, he was the CEO of the Equity Dealers of America and Director of Global Government Affairs at Bloomberg LP.  “Gensler claims that he has to do this because investors are clamoring for this disclosure, but it's not investors that are clamoring for it. It's Wall Street asset managers, investment banks, and institutional investors who are pushing an ESG political agenda into the boardroom that they can't get through Congress.” This is just one of the many concerning issues we get into in this episode. Some others: <ul> <li> The higher fees Wall Street charges for its ESG funds. </li> <li> Klaus Schwab (of the World Economic Forum) and his “stakeholder” capitalism and how Wall Street has adopted many of his views.  </li> <li> Public company security regulations seeping into private businesses. </li> <li> A long segment about how the Chinese have used the US capital markets to access to American capital and allowing them to fund their military and economic rise with our money. </li> <li> Something obscurely called the Consolidated Audit Trail where the SEC has decided to add to its surveillance capabilities, the ability to collect all of the personal and financial information of every investor who has a share of stock in our capital markets.  </li> </ul> “Can you imagine if the SEC entered into a memorandum of understanding with the IRS? Then the government would have a true and complete picture of not only your securities holdings, but also any businesses that you might own that are private, any real estate that you may own. It's would be complete picture of what your wealth is.” There’s a lot to unpack in this episode, but I think you’ll find it worth your time.

Episode 225: “Protecting Investors from an Overreaching Regulatory State” with Chris Iacovella

Bill Walton

Gordon Chang

GORDON CHANG, Contributor, Gatestone Institute, Newsweek, Author, “The Coming Collapse of China,” “Nuclear Showdown: North Korea Takes the World, “Losing South Korea,” and “The Great US-China Tech War,” @Gordongchang Gordon Chang’s message to U.S. hedge fund investors: Yes, Xi Jinping means exactly what he says Chang: China is well behind on its commitments to Phase One of the Trump administration’s trade deal with the People’s Republic of China Chang: Xi has wiped out an entire industry within the Chinese economy Variable Interest Entity Structures are helping to underwrite the Chinese threat to U.S. investors With international usage for the Chinese Renminbi being around 5%, will the Saudis strike a deal with the Chinese Communists involving the PRC’s national currency?  CHRIS IACOVELLA, CEO, American Securities Association, Former CEO, Equity Dealers of America, Former Special Counsel &amp; Policy Advisor, U.S. Commodity Futures Trading Commission Chris Iacovella: The Chinese Communist Party is trying to dump the last of its “Golden Gooses” into our markets Iacovella: These shell companies have no equity ownership in the China-based operating company Passive index loopholes: Wall Street aids and abets the CCP to get unlisted Chinese companies on American investors’ portfolios  BILL WALTON, Chairman, Resolute Protector Foundation, Host, The Bill Walton Show, Senior Fellow, Discovery Institute’s Center on Wealth, Poverty and Morality, @billwaltonshow Since 2008, the MSCI China Index has been rising rapidly, peaking in February 2021, but has fallen following Xi's crackdown against Chinese tech firms  Walton: Foreign firms operating in China have little-to-no rights and privileges, i.e. no voting rights Walton talks about the supposed threats posed by Communist China and Victor Davis Hanson’s recent piece, “China’s Greater East Asia Co-Prosperity Sphere”

GORDON CHANG, Contributor, Gatestone Institute, Newsweek, Author, “<a href="https://www.amazon.com/Coming-Collapse-China-Gordon-Chang/dp/0812977564" rel="nofollow" target="_blank">The Coming Collapse of China,</a>” “Nuclear Showdown: North Korea Takes the World, “Losing South Korea,” and “The Great US-China Tech War,” @<a href="https://twitter.com/GordonGChang?s=20" rel="nofollow" target="_blank">Gordongchang</a> <ul><li>Gordon Chang’s message to U.S. hedge fund investors: Yes, Xi Jinping means exactly what he says</li> <li>Chang: China is well behind on its commitments to Phase One of the Trump administration’s trade deal with the People’s Republic of China</li> <li>Chang: Xi has wiped out an entire industry within the Chinese economy</li> <li>Variable Interest Entity Structures are helping to underwrite the Chinese threat to U.S. investors</li> <li>With international usage for the Chinese Renminbi being around 5%, will the Saudis strike a deal with the Chinese Communists involving the PRC’s national currency?</li> </ul> CHRIS IACOVELLA, CEO, American Securities Association, Former CEO, Equity Dealers of America, Former Special Counsel &amp; Policy Advisor, U.S. Commodity Futures Trading Commission <ul><li>Chris Iacovella: The Chinese Communist Party is trying to dump the last of its “Golden Gooses” into our markets</li> <li>Iacovella: These shell companies have no equity ownership in the China-based operating company</li> <li>Passive index loopholes: Wall Street aids and abets the CCP to get unlisted Chinese companies on American investors’ portfolios</li> </ul> BILL WALTON, Chairman, Resolute Protector Foundation, Host, <a href="http://cgtv.us/the-bill-walton-show/" rel="nofollow" target="_blank">The Bill Walton Show,</a> Senior Fellow, Discovery Institute’s Center on Wealth, Poverty and Morality, @<a href="https://twitter.com/billwaltonshow?s=20" rel="nofollow" target="_blank">billwaltonshow</a> <ul><li>Since 2008, the MSCI China Index has been rising rapidly, peaking in February 2021, but has fallen following Xi's crackdown against Chinese tech firms </li> <li>Walton: Foreign firms operating in China have little-to-no rights and privileges, i.e. no voting rights</li> <li>Walton talks about the supposed threats posed by Communist China and Victor Davis Hanson’s recent piece, “<a href="https://amgreatness.com/2021/07/25/chinas-greater-east-asia-co-prosperity-sphere/%20" rel="nofollow" target="_blank">China’s Greater East Asia Co-Prosperity Sphere</a>”</li></ul>

With Gordon Chang, Chris Iacovella and Bill Walton