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2002 Headlines

Topic
Year
April 23, 2002

NASAA forms task force on analyst independence issues

Statement by NASAA President Joseph Borg (April 23, 2002): WASHINGTON– “Last week, the board of directors for the North American Securities Administrators Association voted to form a multi-state task force that will focus on the issues raised by New York Attorney General Eliot Spitzer in investigating underwriting and analysts` research issues and possible securities law […]
April 19, 2002

NASAA Urges SEC, NASD to Bar Analysts From Investment Banking

WASHINGTON (April 19, 2002) –The North American Securities Administrators Association (NASAA) today called on the Securities and Exchange Commission and the National Association of Securities Dealers (NASD) to prohibit stock analysts from appearing at “road shows” to promote new stock offerings by the investment banks that employ them. NASAA’s proposal came in response to a […]
March 11, 2002

States move to register investment adviser representatives online starting March 18

WASHINGTON (March 11, 2002) – Beginning March 18, investment adviser representatives will be able to register with regulators online, saving both time and money by eliminating paper filings. Online filings will become part of the Investment Adviser Registration Depository (IARD) program, developed jointly by the North American Securities Administrators Association (NASAA)¹ and the Securities and […]
March 7, 2002

NASAA President Joe Borg`s Statement on SEC Funding

WASHINGTON (March 7, 2002) – “Not giving securities regulators the money they need to police our growing markets is pennywise and pound-foolish, and a bad investment,” said Joseph Borg, president of the North American Securities Administrators Association and director of the Alabama Securities Commission. “As the attention surrounding Enron’s collapse has shown, we’re a nation […]
February 26, 2002

Risky ‘death futures’ draw warning from state securities regulators, congressional scrutiny

Promises of ‘guaranteed returns’ fuel losses in the hundreds of millions of dollars; High commissions entice independent insurance agents to sell viatical settlements WASHINGTON (February 26, 2002) — Citing deceptive marketing practices and numerous instances of fraud, state securities regulators warned Tuesday that investors should not be misled by claims that viatical settlements – interests […]
February 4, 2002

NASAA Statement Regarding SEC Pay Parity

(February 4, 2002) – “At a time when investors, the government and industry are looking for securities regulators to do more, we are troubled that there is no money in the proposed budget to raise the pay of staff at the Securities and Exchange Commission to match that of their counterparts at the federal banking […]
January 17, 2002

“Prime bank” scams on the rise, state securities regulators warn

Low interest rates, distrust of government, Internet fuel billions in losses; Bogus schemes likened to Wall Street’s “X-Files,” called “Fraud of the Century.” WASHINGTON (January 17, 2002) – With low interest rates and volatile equity markets causing Americans to rethink their investment strategies, state securities regulators warned Thursday that losses from “prime bank” scams – […]




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