WASHINGTON (November 6, 2012) – The North American Securities Administrators Association (NASAA) today announced that North Carolina Deputy Securities Administrator David S. Massey has been reappointed to a two-year term representing state securities regulators on the Financial Stability Oversight Council (FSOC).
The FSOC is responsible for coordinating financial regulators to identify systemic risks to the nation’s financial stability. The Dodd-Frank Wall Street Reform and Consumer Protection Act authorizes a state securities regulator, state insurance commissioner, and a state banking supervisor to serve as non-voting members of the FSOC.
“The inclusion of a NASAA representative on the FSOC represents a hard-earned recognition by Congress of the value of state securities regulation,” said NASAA President and Arkansas Securities Commissioner A. Heath Abshure. “As the regulator closest to investors, state securities regulators have a track record of identifying developing trends before they impact the larger financial system. I am glad that NASAA will continue to be well represented on the FSOC.”
Massey, a former NASAA President, was selected by NASAA’s Board of Directors to represent state securities regulators on the FSOC. He has served as Director of the North Carolina Securities Division since June 1997. Previously, he served as General Counsel for the Department of the Secretary of State of North Carolina and as General Counsel for the North Carolina Securities Division, a division within the Department of the Secretary of State.
Massey also has served on NASAA’s Board of Directors and as Chair of the NASAA Enforcement Section. He earned a Master’s in Business Administration from East Carolina University in Greenville, North Carolina; a Juris Doctor at Wake Forest University School of Law; and a Master’s in Law & Taxation from the Marshall-Wythe School of Law at the College of William & Mary.
NASAA is the oldest international organization devoted to investor protection. Its membership consists of the securities administrators in the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Canada and Mexico.
For more information:
Bob Webster | Director of Communications | 202-737-0900