Will Lead International Investor Protection Organization

WASHINGTON, D.C. (September 29, 2015) – Maine Securities Administrator Judith M. Shaw began a one-year term today as president of the North American Securities Administrators Association (NASAA), the oldest international organization devoted to investor protection and efficient capital formation.

In her inaugural address at NASAA’s 98th Annual Conference in San Juan, Puerto Rico, Shaw said she encourages NASAA members to strive to strengthen their coordinated efforts and to explore new opportunities to work more closely with fellow regulators.

“In this age of technology and electronic marketing, borders are virtually nonexistent. We will find ways to leverage our available resources and support one another in the interest of investor protection,” Shaw said. “In the coming year I believe that we can increase collaboration with our federal partners in both the regulatory and self-regulatory spaces. Opportunities abound. We share the same mission and should be strong partners in the fight to protect investors and generate renewed confidence in the capital markets.”

“We have a long history of partnering with our federal counterparts in the area of investor education and I am glad to expand that to industry outreach but outreach is not enough. We must identify the barriers to full and meaningful partnership and collaboration in enforcement, examination, and capital formation as well,” Shaw said. “I will be requesting meetings with the SEC and FINRA so together with NASAA leadership, we can identify barriers and tear them down. We are on the same team. We share common goals, Together we can accomplish so much more.”

Looking ahead, Shaw said no issue lends itself better to coordination, collaboration, and cooperation than the protection of our senior investors. “As the Administrator of a geographically large and rural state with the oldest population in the country, I believe a community based and holistic approach to the growing problem of elder financial exploitation is critical,” said Shaw, who also served as co-chair of the Maine Council for Elder Abuse Prevention.

Shaw also announced NASAA’s leadership for the 2015-2016 year. The new Board of Directors includes: President-elect Michael Rothman on Minnesota; Past President William Beatty of Washington; Treasurer Kathryn Daniels of Ontario; Secretary Gerald Rome of Colorado; Director Joseph Borg of Alabama; Director Diana Foley of Nevada; Director Jack Herstein of Nebraska; and Director John Morgan of Texas.

She said she will ask NASAA’s Board of Director to approve the following administrators to serve as chairs of NASAA’s sections: Broker-Dealer, Andrew Hartnett of Missouri; Corporation Finance, Michael Pieciak of Vermont; Enforcement, Laura Posner of New Jersey; Investment Adviser, Patricia Struck of Wisconsin; and Investor Education, Lynne Egan of Montana. And, subject to Board approval, Keith Woodwell of Utah will continue to serve as NASAA’s Ombudsman.

For the past year, Shaw has served as NASAA’s president-elect. Previously, she served NASAA as Secretary of the Board, Chair of the Enforcement Section Committee, Chair of the Strategic Planning Committee, Chair of the Standardized Training and Technology Committee, and a member of NASAA’s Senior Issues and Diminished Capacity Committee. She was appointed as the Securities Administrator for the State of Maine Office of Securities in 2008.

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Bob Webster | Director of Communications