All: Newsroom

SEC, NY Attorney General, NYSE, NASD, NASAA Reach Agreement on Reforming Wall Street Practices

(October 3, 2002) – Today the Securities and Exchange Commission, the New York State Attorney General’s Office, the New York Stock Exchange, the NASD and the North American Securities Administrators Association announced a joint effort to bring to a speedy and coordinated conclusion the various investigations concerning analyst research and IPO allocations. The undertaking is […]

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NASAA President Christine Bruenn`s Speech to Annual Conference

Regulators must act to restore investor confidence, says top state securities cop; New NASAA President Christine Bruenn urges continued cooperation among federal, state and industry regulators; vows to fight pre-emption  WASHINGTON (October 1, 2002) – The nation’s top state securities cop said today regulatory action is key to restoring investor confidence in the markets. Christine Bruenn, […]

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NASAA statement on signing of the Sarbanes-Oxley Act of 2002

(July 30, 2002) – “Signing The Sarbanes-Oxley Act of 2002 is a critical step toward restoring investor confidence in our securities markets,” said Joseph Borg, president of the North American Securities Administrators Association and director of the Alabama Securities Commission. “We commend President Bush and the House and Senate leadership. The Act improves oversight of the […]

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NASAA statement on passage The Public Company Accounting Reform and Investor Protection Act of 2002

(July 15, 2002) – “Passage of S. 2673, The Public Company Accounting Reform and Investor Protection Act of 2002, is a critical step toward restoring investor confidence in our securities markets,” said Joseph Borg, president of the North American Securities Administrators Association (NASAA) and director of the Alabama Securities Commission. “We commend the Senate for […]

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NASAA statement on President Bush`s speech on corporate responsibility

(July 9, 2002) – “The North American Securities Administrators Association (NASAA) welcomes President Bush`s call for tougher penalties for financial fraud,” said Joseph Borg, president of NASAA and director of the Alabama Securities Commission. “The innovation that has made America the world`s economic leader is being threatened by allegations of lying, cheating and stealing in […]

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NASAA statement on WorldCom, Wall Street investigations, SEC resources, investor confidence

The following is a statement from NASAA President and Alabama Securities Director Joseph Borg (June 26, 2002): “The latest Wall Street revelation, that WorldCom manipulated its revenues and profits, continues to undermine investor confidence. Who can blame investors for feeling skittish or scared — when they read about phony accounting numbers, double talking stock analysts […]

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Wall Street to Congress: Shut down states` analyst probe

NASAA President Borg calls attempt “shameful and cynical;” asks “What does the industry have to hide?” WASHINGTON (June 17, 2002)- In a brazen attempt to undermine investor protection, the securities industry is trying to amend a bill scheduled for mark-up Tuesday by the Senate Banking Committee with language that would end a probe by state […]

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NASAA statement on NASD reorganization

WASHINGTON (June 7, 2002) — “At a time when investor complaints are up and confidence in our markets is down, we trust that this reorganization will have no negative impact on the National Association of Securities Dealers` commitment to investor protection,” said Marc Beauchamp, executive director of the North American Securities Administrators Association. “NASAA and […]

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NASAA statement on Merrill Lynch settlement

The North American Securities Administrators Association (NASAA) released the following statement today (May 21, 2002) after New York Attorney General Eliot Spitzer announced a settlement agreement with Merrill Lynch on behalf of New York, the other states, the District of Columbia and Puerto Rico. “New York Attorney General Eliot Spitzer performed a public service by […]

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NASAA statement on adoption of analyst rule changes

(May 8, 2002) – “We commend the National Association of Securities Dealers for addressing the vital issue of analyst conflict of interest beginning last year and then working with the New York Stock Exchange, the Securities and Exchange Commission, Congress and the states to ensure adoption of today`s rule changes,” said Marc Beauchamp, executive director of […]

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