INDIANAPOLIS, IN (September 16, 2014) — Washington Securities Director William Beatty today began a one-year term as president of the North American Securities Administrators Association (NASAA), the oldest international organization devoted to investor protection and efficient capital formation.
“Throughout my term I hope to bring a new way of looking at our issues to find effective and efficient resolutions for investors, regulators and industry alike,” Beatty said in remarks at NASAA annual conference here.
“I strongly believe in NASAA’s mission to protect retail investors and foster capital formation,” Beatty said. “Balancing our obligations to these communities is sometimes challenging, but providing assistance to these communities is hugely satisfying.”
Beatty said he intends to expand NASAA’s ongoing initiatives focused on protection of senior investors, especially those with diminished capacity and technology, with an emphasis on upcoming launch of electronic state filing of Form D.
He also noted that he will continue NASAA’s dialog with the Securities and Exchange Commission to preserve the regulatory oversight authority of state securities regulators regarding Regulation A offerings. “No one can go it alone,” Beatty said. “We may have our differences, at times, but the state-federal-SRO partnership is critical to effective investor protection.”
Beatty said he intends to enhance NASAA’s work with Canadian and Mexican securities regulators. “A number of the issues we are dealing with know no borders,” he said.
Noting NASAA’s ongoing collaborative work with industry in the areas of diminished capacity and fee disclosure, Beatty said “We probably have a lot more in common than you might think. We would be hard-pressed to find anyone in the audience that is against investor protection,” he told financial industry representatives in the audience.
Beatty announced NASAA’s new Board of Directors, including: President-elect Judith Shaw of Maine; Past President, Andrea Seidt of Ohio; Melanie Lubin, Maryland; Joseph Borg, Alabama; Kathryn Daniels, Ontario, Gerald Rome, Colorado; Michael Rothman, Minnesota; and Daphne Smith, Tennessee.
He also said he has asked the following administrators to serve as chairs of NASAA’s sections: Heath Abshure, Arkansas, Corporation Finance; Lynne Egan, Montana, Investor Education; Bryan Lantagne, of Massachusetts, Broker Dealer; Owen Lefkon, Delaware, Enforcement; and Patricia Struck, Wisconsin, Investment Adviser.
For the past year, Beatty has served as NASAA’s president-elect. Previously, he served as chair of NASAA’s Corporation Finance Section. He has served in the Washington Department of Financial Institutions for 28 years, including approximately five as director of the department’s securities division.
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