Discussions to Focus on Cryptocurrency Enforcement & Securities Arbitration
For First Time, NASAA Offers Participants Option to Attend Online
WASHINGTON, D.C. (April 9, 2018)—State and provincial securities regulators will convene in the nation’s capital next month for two roundtable discussions examining what the rise of cryptocurrency means for investor protection and issues related to securities arbitration.
NASAA President and Alabama Securities Commissioner Joseph P. Borg also announced that for the first time, participants will have the option to attend this year’s roundtable online.
“We are pleased to harness technology to bring the views of a prominent roster of speakers to an even wider audience,” Borg said. “Of course, we always look forward to seeing those who choose to attend our events in person.”
The program begins with a conversation between NASAA President Borg and President-elect Michael Pieciak, Vermont’s Commissioner of Financial Regulation. The conversation will focus on NASAA priorities, including legislative, regulatory and enforcement matters.
Led by NASAA President-elect Pieciak, the first panel of experts will examine the impact of cryptocurrencies and ICOs on Main Street investors and millennials. Discussions will feature recent cryptocurrency enforcement actions, the evolving regulatory treatment of cryptocurrencies, and actions investors can take to protect themselves. This panel also serves as an introduction to NASAA’s May 21, 2018 Fintech Roundtable, where academics, regulators, and industry participants will further examine the regulatory framework and oversight of cryptocurrency, ICOs and blockchain technology.
- Robert A. Cohen, Cyber Unit Chief, U.S. Securities and Exchange Commission
- Brian Fung, Technology Reporter, The Washington Post
- Travis Iles, Texas State Securities Commissioner
- Jake van der Laan, Director of Enforcement, New Brunswick Financial and Consumer Services Commission
After a brief break, the second panel of experts will address current topics in securities arbitration and discuss changes that may be on the horizon. The focal points of this discussion are whether mandatory arbitration clauses have a place in the IPO context; whether investors should be entitled to a written explanation for adverse decisions in cases where their claims are denied; whether investors are entitled to remedies under state law, including attorneys’ fees; and how to address unpaid arbitration awards.
Illinois Securities Director Tanya Solov will moderate a panel consisting of arbitration and securities law experts, including:
- Richard Berry, Executive Vice President and Director of Dispute Resolution, FINRA
- Tracey McNeil, Ombudsman, U.S. Securities and Exchange Commission
- Joseph Punturo, Assistant Attorney General, New York Office of the Attorney General Investor Protection Bureau
- Andrew Stoltmann, President, PIABA
The roundtable is scheduled for May 7 from 1:30 to 5 p.m. at the Washington Court Hotel, 525 New Jersey Avenue NW, Washington D.C. A reception will follow for participants in the live audience.
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Bob Webster | Director of Communications