WASHINGTON (September 26, 2001) – Joseph Borg, president of the North American Securities Administrators Association and director of the Alabama Securities Commission, today announced the organization`s new board members and the chairs of its main committees.

Joining Borg on NASAA`s nine-member board of directors are: Christine Bruenn, (president-elect) administrator of the Maine Securities Division; Deborah Bortner (past-president) director of securities for Washington state; W. Mark Sendrow, (treasurer) director of securities for the Arizona Corporations Commission; Daphne Smith, (secretary) assistant commissioner of securities for the Tennessee Department of Commerce and Insurance; Scott Borchert, director of enforcement for the Minnesota Department of Commerce; Craig Goettsch, superintendent of the Iowa Securities Bureau; Guy Lemoine, vice-chair of the Quebec Securities Commission; and Melanie Lubin, securities commissioner for Maryland.

Borg also named S. Anthony Taggart, director of the Utah Securities Division, to chair NASAA`s Corporate Finance section; Bradley Skolnik, Indiana securities commissioner, to chair NASAA`s Enforcement section; Denise Voigt Crawford, Texas securities commissioner, to chair NASAA`s Investor Education section; Patricia Struck, administrator of the Wisconsin Department of Financial Institution`s Securities Division, to chair NASAA`s Investment Adviser section; and Franklin Widmann, chief of the New Jersey Securities Bureau, to head NASAA`s Broker-Dealer section.

Borg, known for his strong enforcement record on microcap and affinity fraud, has served as director of the Alabama Securities Commission since 1995. In 1979, Borg left private practice in New York for Alabama, where he held a variety of private sector positions before his appointment to the Commission.

Borg, who took over as NASAA president earlier this month, will address the Securities Industry Association`s small firms next month, where he will layout his agenda for the year. Borg promised to further the work of recent NASAA presidents, stressing increased uniformity among state securities regulators and implementation of an electronic database for investment advisers similar to the Central Registration Depository for broker dealers.