Series 65 Revamped to Test Economics, Investment Vehicles, ethics WASHINGTON (December 27, 1999) — Starting January 1, new investment advisers will have to take a “competency exam” to show that they know what they’re talking about. New advisers will have to take a 130-question state exam that tests their knowledge of economics, investment vehicles, investment [...]
State securities cops warn of Internet hype, high-pressure cold-callers WASHINGTON (December 16, 1999) – Despite a crackdown in recent years by state, industry and federal securities regulators, small-stock fraud remains a serious problem, costing investors many millions of dollars each year. The bull market on Wall Street shouldn’t lull investors into letting their guard down, [...]
(December 15, 1999) – The following is a statement by NASAA President and Indiana Securities Commissioner Bradley W. Skolnik: In the age of the Internet and 24-hour financial news, there’s no reason for an uneven information playing field on Wall Street. Why shouldn’t investors on Main Street have access to the same information as the pros [...]
(December 10, 1999) – Bradley K. Skolnik, President of the North American Securities Administrators Association (NASAA) & Indiana Securities Commissioner, released the following statement in response to the proposed rule changes by the NYSE and the NASD that would raise margin requirements for day traders: “NASAA supports higher margin requirements for day traders. Day trading [...]
State securities regulators warn of hidden costs, delayed executions, dangers of trading too much WASHINGTON (November 26, 1999) – With online brokerage firms poised to spend a reported $1 billion on advertising in the coming year, state securities regulators today warned investors to look beyond the hype and beware of hidden costs, delayed executions and [...]
NASAA Praises SEC Commissioner Laura Unger`s Online Brokerage Report (November 23, 1999) - The following is a statement by NASAA President Bradley Skolnik, Indiana`s Securities Commissioner: Commissioner Laura Unger deserves praise for taking a reasoned and reasonable approach to the many issues raised by online brokerage and for doing her homework by consulting with a wide [...]
WASHINGTON (November 19, 1999) – On the eve of a made-for-TV disaster movie about the Year 2000 computer bug, state securities regulators warned investors not to fall victim to “Y2K: The Scam.” State securities cops warned that con artists are trying to exploit fear of the Y2K problem by touting risky or bogus investments. State [...]
Panel to discuss “suitability rule,” other Internet brokerage issues WASHINGTON (October 25, 1999) – Do online investors need the same regulatory safety net as investors who place orders with their stock brokers over the telephone? That will be the question discussed and debated at a roundtable of regulators, industry executives, policy makers and consumer advocates [...]
WASHINGTON (October 21, 1999) – The North American Securities Administrators Association (NASAA) announced today that its executive director, Philip A. Feigin, plans to resign by the end of the year. Feigin, 50, came to Washington a year ago after 10 years as Colorado Securities Commissioner. Feigin cited his desire to return to Colorado as the [...]
State securities regulators say answering machines provide best protection WASHINGTON (October 15, 1999) – Despite the growth in Internet fraud, most bogus investment schemes are still sold the old-fashioned way—over the telephone. State securities regulators say the best protection is an answering machine to screen calls. But telemarketing is changing, in response to technology, the [...]
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