WASHINGTON, D.C. (June 10, 2009) – The North American Securities Administrators Association today commended the Obama administration for affirming the vital role that state regulators play in protecting American investors and consumers. “We sincerely appreciate your recognition that states have frequently been more aggressive than the national government in protecting the public’s interest,” NASAA President [...]
All: Issues & Advocacy
Amendments to Forms U4 and U5 and Proposed Guidance for Filings by Investment Adviser Representatives
The NASAA CRD/IARD Steering Committee and the CRD/IARD Forms and Process Committee have worked with FINRA, regulators, and representatives of the financial services industry in developing amendments to the Form U4 and Form U5. The proposed changes have been published by both FINRA and the SEC for public comment. On May 13, 2009, the SEC [...]
April 29, 2009 – NASAA written statement submitted to the Senate Homeland Security and Government Affairs Subcommittee on Oversight of Government Management, the Federal Workforce, and the District of Columbia regarding the role of the federal government in empowering Americans to make informed financial decisions.
April 29, 2009 – Written testimony of Colorado Securities Commissioner, and NASAA President, Fred Joseph, delivered to the Senate Special Committee on Aging, regarding the regulation of life settlements.
March 26, 2009 – Written testimony of Colorado Securities Commissioner, and NASAA President Fred J. Joseph, delivered before the Senate Committee on Banking, Housing, and Urban Affairs, regarding enhancing investor protection and the regulation of markets.
March 20, 2009 – Written testimony of Delaware Securities Commissioner James B. Ropp, delivered to the House Committee on Financial Services, regarding ways to enhance our ability to pursue financial fraud and prosecute the perpetrators of those crimes.
NASAA’s Proposed Adoption of a Statement of Policy Regarding Multi-State Review of Requests for Interpretive Opinions and No-Action Letters
The NASAA Coordinated Interpretations Project Group requests comment from the public on the adoption of a new Statement of Policy Regarding Multi-State Review of Requests for Interpretative Opinions and No-Action Letters. The comment period begins February 20, 2009 and will remain open for 30 days. Accordingly, all comments should be submitted on or before March [...]
Here you will find general information regarding the Special Arbitration Procedures applicable to the ARS settlements. There may be certain differences in the SAP’s, depending on the firm. In this case, as soon as these differences are known, NASAA will enumerate them here along with appropriate updates to the general procedure and appropriate instructions. Several [...]
NASAA’s Franchise and Business Opportunities Project Group has released for internal and public comment a proposed Commentary to the 2008 Franchise Registration and Disclosure Guidelines (“2008 Franchise Commentary”). The 2008 Franchise Commentary contains practical guidance about complying with new Franchise Registration and Disclosure Guidelines and addresses questions of interpretation that have arisen about those Guidelines. The [...]
State Securities Regulators Announce Settlements with Merrill Lynch, Goldman Sachs, Deutsche Bank in Auction Rate Securities Investigations
WASHINGTON, D.C. August 21, 2008 — The North American Securities Administrators Association (NASAA) today announced that settlements in principle have been reached between Merrill Lynch & Co. Inc., Goldman Sachs Group Inc., Deutsche Bank Securities Inc, Deutsche Bank AG and state securities regulators, which will give thousands of the firms’ clients access to billions of [...]