All: Newsroom

NASAA Supports Proposed Day Trading Margin Rule Changes by NYSE, NASD

(December 10, 1999) – Bradley K. Skolnik, President of the North American Securities Administrators Association (NASAA) & Indiana Securities Commissioner, released the following statement in response to the proposed rule changes by the NYSE and the NASD that would raise margin requirements for day traders: “NASAA supports higher margin requirements for day traders. Day trading […]

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Investors Urged to Discount Online Brokerage Advertising

State securities regulators warn of hidden costs, delayed executions, dangers of trading too much WASHINGTON (November 26, 1999) – With online brokerage firms poised to spend a reported $1 billion on advertising in the coming year, state securities regulators today warned investors to look beyond the hype and beware of hidden costs, delayed executions and […]

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NASAA Statements on Reports on Online Brokerage by the SEC and New York Attorney General

NASAA Praises SEC Commissioner Laura Unger`s Online Brokerage Report (November 23, 1999) – The following is a statement by NASAA President Bradley Skolnik, Indiana`s Securities Commissioner: Commissioner Laura Unger deserves praise for taking a reasoned and reasonable approach to the many issues raised by online brokerage and for doing her homework by consulting with a wide […]

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Investors Warned About “Y2K: The Scam”

WASHINGTON (November 19, 1999) – On the eve of a made-for-TV disaster movie about the Year 2000 computer bug, state securities regulators warned investors not to fall victim to “Y2K: The Scam.” State securities cops warned that con artists are trying to exploit fear of the Y2K problem by touting risky or bogus investments. State […]

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Investors Warned About "Y2K: The Scam"

WASHINGTON (November 19, 1999) – On the eve of a made-for-TV disaster movie about the Year 2000 computer bug, state securities regulators warned investors not to fall victim to “Y2K: The Scam.” State securities cops warned that con artists are trying to exploit fear of the Y2K problem by touting risky or bogus investments. State […]

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Do online investors need regulatory safety net?

Panel to discuss “suitability rule,” other Internet brokerage issues WASHINGTON (October 25, 1999) – Do online investors need the same regulatory safety net as investors who place orders with their stock brokers over the telephone? That will be the question discussed and debated at a roundtable of regulators, industry executives, policy makers and consumer advocates […]

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NASAA Executive Director Philip A. Feigin announces plan to resign and return to Colorado

WASHINGTON (October 21, 1999) – The North American Securities Administrators Association (NASAA) announced today that its executive director, Philip A. Feigin, plans to resign by the end of the year. Feigin, 50, came to Washington a year ago after 10 years as Colorado Securities Commissioner. Feigin cited his desire to return to Colorado as the […]

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Telemarketing fraud still flourishing in the age of the Internet

State securities regulators say answering machines provide best protection WASHINGTON (October 15, 1999) – Despite the growth in Internet fraud, most bogus investment schemes are still sold the old-fashioned way—over the telephone. State securities regulators say the best protection is an answering machine to screen calls. But telemarketing is changing, in response to technology, the […]

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Online brokerage regulation roundtable set for November 1 in Washington, D.C.

SEC Commissioner Laura Unger, brokerage executives, others to discuss” suitability rule,” other topics WASHINGTON (October 7, 1999) – The head of a group of state securities regulators will moderate a roundtable on November 1 asking whether online investors need the same regulatory safety net as investors who rely on advice from traditional stockbrokers. Bradley Skolnik, […]

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State securities regulators streamline program for entrepreneurs wanting to go public

WASHINGTON (October 6, 1999) – State securities regulators have streamlined and improved a program designed to help local entrepreneurs raise seed capital to expand their businesses through small stock offerings. The program, known as SCOR, for “Small Company Offering Registration,” has allowed more than 1,100 companies across the country to sell shares to the public. […]

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