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State Securities Cops Release New List of “Top 10 Investment Scams”

`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 […]

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State Securities Cops Release New List of "Top 10 Investment Scams"

`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 […]

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NASAA commends Senators Levin, Schumer and Gramm for preserving principle of “functional regulation” in financial services modernization bill (S. 900)

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 […]

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NASAA commends Senators Levin, Schumer and Gramm for preserving principle of "functional regulation" in financial services modernization bill (S. 900)

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 […]

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NASAA Statement on SEC Chairman Arthur Levitt`s Speech on Online Trading

A statement by NASAA President Peter C. Hildreth (May 4, 1999): We applaud Chairman Levitt for the online trading initiatives announced today and we share his concerns. Like the SEC and the NASD, state securities regulators are concerned about some of the advertising done by online brokerage firms, which implies that if you’re not trading […]

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Online trading task force formed by state securities regulators

WASHINGTON (May 3, 1999) – State securities regulators have formed a task force to look at issues surrounding online trading such as advertising, order handling and customer suitability, the North American Securities Administrators Association (NASAA) announced today. The “Online Trading Project Group” will report to the NASAA board of directors and be chaired by Peter […]

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NASAA Response to Proposals by SIA for Securities Markets Enhancement Act (SMEA)

(April 29, 1999) – Overall America’s securities markets are fair, open and transparent and have the confidence of investors. NASAA believes that this is in large part because of our 60-year old complementary regulatory regime of state, industry and federal oversight and enforcement. This three-legged regulatory stool is a major reason why the US securities […]

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48 states join in national investor education push (April 26-May1)

“Financial literacy” campaign targets workers, high school students WASHINGTON (April 26, 1999)– Securities regulators in 48 states*—from Alabama to Wyoming–next week will join in a national grass-roots investor education effort to reach workers and high school students, those deemed most “at risk” in the nation’s looming financial literacy crisis. Regulators will visit dozens of high […]

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Online investors cautioned, offered tips to protect themselves

State regulators urge use of “limit orders” in volatile markets WASHINGTON (March 26, 1999) – As millions of investors open online brokerage accounts and Wall Street’s computer systems strain to keep up with demand, state securities regulators today offered advice and urged caution. By one estimate 7.5 million investors have online brokerage accounts, a number […]

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Investors going on line need to be “cyber savvy,” state securities regulators tell Senate panel

WASHINGTON (March 23, 1999) – Investors venturing on line to trade or get stock tips need to do their homework, be skeptical and watch out for fraud, two state securities regulators told a Senate panel today. “Legitimate business opportunities for financial services on the Internet are unlimited. At the same time, the risk of fraud […]

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