WASHINGTON, D.C. (September 16, 2014) – The North American Securities Administrators Association (NASAA) today announced the formation of an advisory council to help inform the work of the association’s recently formed Board-level Committee on Senior Issues and Diminished Capacity.
“We look forward to working closely with an advisory council of experts from government, business, senior advocacy organizations, academia and medical and legal practitioners, as we move forward in this ever increasingly important area of investor protection and service,” said William Beatty, NASAA President and Washington Securities Director.
Members of the Advisory Council include: Georgia Anetzberger, Gerontological Society of America; Marin Gibson, Securities Industry and Financial Markets Association; Nancy Heffner, Financial Services Institute; Skip Humphrey, former director of the Consumer Financial Protection Bureau Office of Older Americans and former Minnesota Attorney General; David Laibson, Harvard University; Ron Long, Wells Fargo Advisors; Brett Kandt, National Association of Prosecutor Coordinators; Naomi Karpp, Consumer Financial Protection Bureau Office of Older Americans; Daniel C. Marson, Alzheimer’s Disease Center at the University of Alabama; Mark Peterson,American Institute of Certified Public Accountants; Charles Sabatino, American Bar Association Commission on Law & Aging; Lori Schock, U.S. Securities and Exchange Commission; Jean Setzfand, AARP; Neil Simon, Investment Adviser Association; Brooke Stringer, National Association of Insurance Commissioners; and Geraldine Walsh, FINRA Foundation.
With at least a third of its members’ enforcement actions involving senior investors, NASAA announced the formation of the new Board-level senior committee in August to tackle a wide range of challenges confronting senior investors, regulators and securities industry professionals. Beatty said 34 percent of enforcement actions taken by state securities regulators since 2008 have involved senior victims among states that track victims by age.
The Committee on Senior Issues and Diminished Capacity, chaired by Montana Deputy Securities Commissioner Lynne Egan, includes representatives from the NASAA Board of Directors and each NASAA section (Broker-Dealer, Corporation Finance, Enforcement, Investment Adviser and Investor Education) as well as Canadian securities regulators.
The committee is the latest in a series of initiatives from NASAA members to protect senior investors since the launch of the Senior Investor Resource Center in 2003 and the adoption of a model rule on the use of senior-specific certifications and professional designations in 2008.
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Bob Webster | Director of Communications