December 18, 2013–NASAA: :The Commission’s proposed rule ignores Congress’ recent judgment and defies Congress’ clear intent. As a policy matter, it is not clear why the Commission would remove state oversight in a high-risk area where both federal and state resources should be fully leveraged to provide sufficient, regular review.”
All: Current Headlines
NASAA Statement on SEC Investor Advisory Committee’s Recommendation Regarding SEC Investment Adviser Exam Funding
November 22, 2013–NASAA applauds the IAC’s efforts to keep the examination fix a top priority for the SEC and Congress.
November 22, 2013–State securities regulators strongly support the recommendations of the SEC’s Investor Advisory Committee to extend a fiduciary duty to broker-dealers when they provide personalized investment advice to retail investors, and to call for legislation to fund investment adviser examinations. NASAA encourages the SEC and Congress to take swift action on each of these important recommendations.
October 31, 2013–NASAA Enforcement Report Details Investor Protection Role of State Securities Regulators
October 30, 2013–New system would ease regulatory compliance costs on small companies attempting to raise capital under a provision of the Jumpstart Our Business Startups (JOBS) Act.
NASAA Encourages Congress to take ‘Balanced Approach’ to Capital Formation Proposals to Restore Investor Confidence
October 23, 2013–NASAA: “What we need is smarter regulation, not merely deregulation.”
October 23, 2013–Reduced System Fees Continued for Investment Adviser Representatives
October 15, 2013–JOBS Act implementation prompts additions of threats to small business owners.
October 8, 2013–Seidt Says NASAA Agenda to Continue Focus on “Smarter Regulation” Balancing Investor Protection and Capital Formation
October 7, 2013–NASAA reports little difference in the type or frequency of deficiencies between existing state investment and those advisers who switched from federal to state oversight as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act.