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State Securities Regulators Release Top 10 Scams, Schemes & Scandals

Mutual Fund Practices, Senior Investment Fraud, Variable Annuities Join 2004 List WASHINGTON (January 14, 2004) – State securities regulators today forecast that investors will be challenged with increasingly complex and confusing investment frauds and identified the Top 10 schemes investors are likely to see in 2004. New to the North American Securities Administrators Association’s (NASAA) […]

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NASAA Names Veteran Lobbyist John Hanley as Executive Director

WASHINGTON (December 23, 2003) – The North American Securities Administrators Association (NASAA) today named John H. Hanley as Executive Director, effective January 5. “On behalf of NASAA’s Board of Directors, I am pleased that John will join us in this key position and am confident that his leadership and extensive knowledge of financial issues will […]

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State, Federal Investigations Demonstrate ‘Fundamental Unfairness’ in Mutual Fund Industry

NASAA Urges Congress to Strengthen Mutual Fund Legislation WASHINGTON (November 4, 2003) — The nation’s top state securities regulator today praised the efforts of state and federal regulators as they advance ongoing investigations into trading practices in the $7 trillion mutual fund industry and urged Congress to strengthen legislation to protect the nation’s 95 million […]

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NASAA Announces Update to Series 65 & 66 Exam Specifications

More Detail Provided on Scope of Tests; Content, Cost Unchanged WASHINGTON (November 3, 2003) – The North American Securities Administrators Association (NASAA) today announced upgrades to specifications for two of its exams: the Series 65 exam, which individuals must pass before being licensed as investment adviser representatives by state securities regulators, and the Series 66, […]

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NASAA Announces Update to Series 65 & 66 Exam Specifications

More Detail Provided on Scope of Tests; Content, Cost Unchanged WASHINGTON (November 3, 2003) – The North American Securities Administrators Association (NASAA) today announced upgrades to specifications for two of its exams: the Series 65 exam, which individuals must pass before being licensed as investment adviser representatives by state securities regulators, and the Series 66, […]

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NASAA Statement on Approval of Global Settlement

WASHINGTON (October 31, 2003) – NASAA President Ralph A. Lambiase today said state securities regulators are pleased that the Honorable William H. Pauley III, United States District Judge for the Southern District of New York, has approved the historic $1.4 billion global settlement of enforcement actions against 10 major Wall Street firms. “This settlement represents […]

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NASAA Statement On SEC Hedge Fund Report

WASHINGTON (September 30, 2003) —The following is a statement by Ralph A. Lambiase, President of the North American Securities Administrators Association (NASAA) and Connecticut Securities Director, regarding the Securities and Exchange Commission’s staff report “The Implications of the Growth of Hedge Funds.” NASAA was founded in 1919 and is the voice of securities agencies responsible […]

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NASAA Statement On Multi-State Enforcement Action Targeting Advance Fee Scheme

WASHINGTON (September 24, 2003) -The following is a statement by Ralph A. Lambiase, President of the North American Securities Administrators Association (NASAA) and Connecticut Securities Director, regarding the multi-state enforcement action announced today by securities regulators in Alabama, Massachusetts, Oklahoma and Puerto Rico. This enforcement action targets an “advance fee” scheme that allegedly defrauded individuals […]

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State Securities Regulators Install New President, Board of Directors

New NASAA President Ralph A. Lambiase pledges to focus on increasing cooperation among regulators, maintaining state authority, advancing shareholders’ rights, and examining arbitration CHICAGO (September 16, 2003) – Ralph A. Lambiase, Connecticut’s Director of Securities, today was named President of the North American Securities Administrators Association (NASAA), which represents state and provincial securities regulators in […]

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SEC Staff and North American Securities Administrators Association to Explore Means to Improve Cooperation

Joint Initiative Will Develop Best Practices for Coordination of Federal and State Enforcement Activities Washington, D.C. (September 14, 2003) — Securities and Exchange Commission Chairman William H. Donaldson and NASAA President Christine A. Bruenn today announced a joint initiative to address issues of coordination and cooperation between federal and state securities enforcement authorities. The initiative […]

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