Vermont’s Michael Pieciak Begins Term as NASAA President

Download: President Pieciak’s Inaugural Address

WASHINGTON, D.C. (September 25, 2018)—Vermont Commissioner of Financial Regulation Michael S. Pieciak today began a one-year term after having been elected the 101st president of the North American Securities Administrators Association (NASAA), the oldest international organization devoted to investor protection and responsible capital formation.

“I am honored to lead our association into its second century of service to our members, to the securities industry, and, most importantly, to Main Street investors throughout North America,” Pieciak said in his inaugural address at NASAA’s 2018 Annual Meeting in Anchorage, Alaska. “We’ve been on the beat protecting investors during times of boom and bust. From ticker tape to the blockchain, NASAA members have worked together to adapt and advance our mission of investor protection.”

During his address, Pieciak outlined the focus of his presidency, which will include initiatives to preserve state regulatory authority by modernizing the association’s operations, as well as initiatives related to millennial investors, cybersecurity, financial technology, cryptocurrency enforcement matters, multijurisdictional enforcement matters, and standards of care. He also said NASAA will launch a campaign next year to commemorate the 100th anniversary of its formation.

“If the last century is any indication of the next 100 years, we can all be certain that change is in store for NASAA and the financial services industry our members regulate,” Pieciak said. “No matter what those changes are, NASAA will continue to be here for investors. It’s what we do.”

Pieciak also announced NASAA’s leadership for his term. The new Board of Directors includes: President-elect Frank Borger-Gilligan of Tennessee, Past President Joseph Borg of Alabama, Treasurer Tom Cotter of Alberta, Secretary Pamela Epting of Florida, Travis Iles of Texas, Bryan Lantagne of Massachusetts, Melanie Senter Lubin of Maryland; and Tanya Solov of Illinois.

He will ask NASAA’s Board of Directors to approve the following administrators to serve as chairs of NASAA’s sections: Broker-Dealer, Leslie Van Buskirk of Wisconsin, Corporation Finance, William Beatty of Washington; Enforcement, Christopher Gerold of New Jersey; Investment Adviser, Andrea Seidt of Ohio; and Investor Education, Lynne Egan of Montana.

For the past year, Pieciak has served as NASAA’s president-elect. He also has served NASAA as a member of the Board of Directors and chair of the Corporation Finance Section and board-level Fintech and Capital Formation committees as well as a non-voting member of the SEC Advisory Committee on Small and Emerging Companies.

Commissioner Pieciak was first appointed by Gov. Peter Shumlin in July 2016 and reappointed by Gov. Phil Scott in December 2016 to serve as commissioner of Vermont’s Department of Financial Regulation. In that capacity, he serves as the chief regulator of Vermont’s financial services sector, including the insurance, captive insurance, banking and securities industries. He previously served as deputy commissioner of the department’s Securities Division, where he led the Division’s investigation into the Jay Peak EB-5 projects.

A full copy of President Pieciak’s inaugural address is available on the NASAA website, www.nasaa.org.
—NASAA—

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