(August 3, 1999) – As the SEC announced another microcap fraud sweep this morning, Peter C. Hildreth, New Hampshire’s director of securities regulation and president of the North American Securities Administrators Association (NASAA) issued the following statement: These latest actions are another victory in the war against microcap stock fraud. Working together regulators are winning. [...]

WASHINGTON (July 30, 1999) – In wake of the tragedy in Atlanta on Thursday, the North American Securities Administrators Association (NASAA) issued the following statement: The majority of the day trading firms state securities regulators have investigated in the past year have misled customers by exaggerating the potential profits of day trading and downplaying the [...]

Con artists target elderly, even pray with victims to gain their trust Washington, D.C. (July 19, 1999) — State securities regulators are warning investors about promissory notes, often sold by insurance agents, that promise high interest rates but are in fact very risky and often fraudulent. Many victims are elderly, like an Indiana woman in [...]

WASHINGTON (June 30, 1999) – Longer stock trading hours must not encourage Main Street investors to shorten their investment time horizons, state securities regulators cautioned today, as a regulatory summit opened on extending trading sessions at the major US stock markets. “We’re now a nation of stockholders and the markets are reacting by offering convenience—just [...]

Computer database, available to the public, contains work, disciplinary records on 600,000 stockbrokers WASHINGTON (June 24, 1999)– One phone call to state securities regulators about Martin R. Frankel, the missing Connecticut money manager, could’ve saved investors their money, a leading state securities regulator said today. Bradley Skolnik, Indiana Securities Commissioner and incoming president of the [...]

WASHINGTON (June 10, 1999) – Small businesses in the Mid-Atlantic region that want to raise capital by selling securities can take part in a new program offered by state securities regulators that streamlines the review process, potentially saving them time and money. The Mid-Atlantic Regional Review (MARR) program is offered by Delaware, Maryland, New Jersey, [...]

WASHINGTON (June 7, 1999) – If you’re thinking of hanging out a shingle to offer investment advice, soon you’ll have to take a new exam to show you know your stuff. Starting January 1 state securities regulators will require new investment advisers to take a 130-question “competency exam” that will cover subjects such as economics, [...]

WASHINGTON (May 28, 1999) — Stock day traders need more disclosure about the risks of hyperactive trading—to protect themselves and stem further abuses in the industry, a group of state securities regulators said today. The North American Securities Administrators Association (NASAA) endorsed new rules proposed by the National Association of Securities Dealers (NASD) that enhance [...]

`Day-trading` seminars, promissory notes, viatical investments make ranking WASHINGTON (May 24, 1999) – State securities regulators today released a list of the Top 10 Scams they are combating, adding pricey day-trading seminars, supposedly high-yielding promissory notes and investments in viatical settlements (interests in the life insurance policies of supposedly terminally ill people) to the second-annual [...]

WASHINGTON (May 7, 1999) – A group representing state securities regulators today commended the Senate for preserving the principle of functional regulation in the financial services modernization bill (S. 900) passed Thursday evening. State regulators have consistently expressed concerns, in Congressional testimony, about securities products sold at banks without the investor protection provided by state [...]