DEFINITION of 'Investment Counsel Association Of America - ICAA'
A non-profit organization whose members work in the investment advisory profession. The Investment Counsel Association of America represents the interests of its members to regulatory bodies, such as the Securities and Exchange Commission (SEC). It also establishes standards and principles designed to govern the actions of its members, including those involving fiduciary duty.
BREAKING DOWN 'Investment Counsel Association Of America - ICAA'
Founded in 1937, the ICAA was a major player in the creation of the Investment Advisors Act of 1940, a federal law regulating investment advisors and professionals.