All: Newsroom

Investment advisers will soon face new "competency" exam

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, […]

1999 Headlines, Newsroom Read more

Investment advisers will soon face new “competency” exam

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, […]

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Day traders need more protection against abuses, say state regulators

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 […]

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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 […]

1999 Headlines, Newsroom Read more

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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