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State securities regulators issue statement on actions announced by the SEC, U.S. Attorney for the Southern District of New York and the FBI

(June 14, 2000) – As the SEC, U.S. Attorney for the Southern District of New York and the Federal Bureau of Investigation announced the unsealing of indictments and the filing of criminal complaints naming more than 100 defendants in securities fraud schemes, Bradley W. Skolnik, Indiana’s securities commissioner and president of the North American Securities […]

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NASAA Implements Waiting Period for Those Who Fail Exams

WASHINGTON (June 5, 2000) – The North American Securities Administrators Association (NASAA)¹ has implemented the following waiting periods for individuals needing to retake the Series 63, Series 65 or Series 66 following a failed attempt: (1) a minimum of 30 days after failing the first exam before the second taking of the exam can be […]

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SEC, State Securities Regulators Announce Promissory Note Enforcement Sweep

(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 […]

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Online Investors Get 10 Tips from State Securities Regulators

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 […]

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NASAA President Testifies on Future of State Securities Regulation

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 […]

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Market Volatility: Investors Should Stay Focused on the Long Term

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 […]

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Baby Boomers Could Face Financial Hardships in Retirement

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 […]

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State Securities Regulators Announce Completion of D.H. Blair Settlement Agreement

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. […]

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NASAA names Marc Beauchamp new executive director

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 […]

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Movie "Boiler Room" Wins "Thumbs Up" from Top State Securities Cop

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 […]

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