WASHINGTON (February 7, 2007) –The following is a statement from North American Securities Administrators Association President and Alabama Securities Commission Director Joseph P. Borg on the passage of House Resolution 94, supporting the goals and ideals of National Consumer Protection Week, February 4-10. NASAA is the oldest international organization devoted to investor protection. NASAA’s membership consists of securities administrators in the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Canada, and Mexico.
“NASAA commends the House of Representatives for approving H. Res. 94 and appreciates the efforts of Reps. Rubén Hinojosa (D-TX) and Judy Biggert (R-IL) for sponsoring this important investor awareness and protection resolution. In support of the ninth annual National Consumer Protection Week (NCPW), state securities regulators join federal, state, and local agencies and national advocacy organizations to raise awareness of the important role that financial education plays in consumer protection.
“This year’s NCPW theme ‘Be an Informed Consumer’ is right on target. State securities regulators have a long tradition of protecting investors through education, and many have developed active investor education outreach programs within their jurisdictions.
“With a majority of Americans investing in our capital markets for their retirement or other long-term financial goals, NASAA members believe we have an ongoing obligation to help our constituents develop the knowledge they need to become informed investors. Financial education is the first and best defense against financial fraud, abuse, and exploitation, and therefore has a direct impact on our nation’s economic strength.”
For more information:
Bob Webster, Director of Communications