(June 1, 2000) – The U.S. Securities and Exchange Commission (SEC) and state securities regulators today announced a joint effort to combat the fraudulent sale of promissory notes to investors. This initiative has resulted in a significant number of enforcement actions. Although promissory notes can be appropriate investments for many individuals, federal and state securities [...]

WASHINGTON (May 25, 2000) – State securities regulators today unveiled a list of tips for online investors. Some 200 securities firms offer online brokerage services and there are an estimated 10 million-plus online accounts. Online firms are spending hundreds of millions of dollars on advertising to attract new customers, many new to investing and the [...]

WASHINGTON (May 8, 2000) – Testifying before the Senate Banking Committee, the nation’s top state securities cop said today that regulators need to “take a fresh look at what they do, how they do it and its impact on industry and consumers” in light of globalization, new electronic technologies and the record number of investors [...]

Top state securities regulator urges diversification, patience, homework WASHINGTON (April 7, 2000) — Recent volatility in the stock market shouldn’t cause investors to question the benefits of a long-term commitment to a diversified financial portfolio, the nation’s top state securities regulator said today. “Market gyrations like we’ve seen lately are more troublesome for traders than [...]

SEC, NASAA, and ASEC Host Expert Panel Discussion at the National Press Club WASHINGTON, DC (April 4, 2000) – Tens of millions of Baby Boomers grew up listening to Mick Jagger and the Rolling Stones sing “Time Is On My Side.” However, experts say time is running out for many Boomers who will soon reach [...]

Firm completes settlement by funding restitution fund WASHINGTON (March 31, 2000) — D.H. Blair & Co., Inc., a New York-based brokerage firm with a lengthy regulatory history, has funded a $2.25 million escrow account to be used for consumer refunds. This restitution fund for investors was established under a 1998 agreement with state securities regulators. [...]

WASHINGTON (March 15, 2000) – The North American Securities Administrators Association (NASAA) today named Marc Beauchamp its new executive director. Beauchamp, 47, joined NASAA two years ago as its communications director. He previously held similar posts with the Nasdaq Stock Market and its parent, the National Association of Securities Dealers. In the early Nineties, he [...]

WASHINGTON (February 1, 2000) – The soon-to-be-released motion picture “Boiler Room” won praise today from the nation`s top state securities cop for shining the spotlight on a criminal subculture on Wall Street that has stolen hundreds of millions-perhaps billions-of dollars from investors. “[Writer-director] Ben Younger deserves to be commended for this realistic, insider`s view” of [...]

Law enforcement summit planned to boost number of criminal cases WASHINGTON (January 9, 2000) – White-collar criminals who commit securities fraud deserve prison time just like thieves, muggers and murderers, a leading securities regulator said today. “Someone steals your car, they go to prison. A con artist steals the money your parents need for retirement, [...]

January 9, 2000, NASAA Winter Enforcement Conference, NASAA President Brad Skolnik, San Diego, California