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May 21, 2018
Washington, D.C.

Good morning everyone.

Chairman Giancarlo, distinguished guests, it is an honor to be here with you today.

Chairman Giancarlo, we greatly appreciate your work on this MOU. I also thank the NASAA and CFTC staff for working together to get this agreement finalized.

Today, we are here to mark this significant step forward in strengthening collaboration among state securities and federal commodities regulators.

One of the priorities of my term as NASAA’s president is to build upon and strengthen our work with fellow regulators as we seek ways to collaborate in carrying out our mission to protect investors and the integrity of the financial markets.

State securities regulators already enjoy a collaborative relationship with the CFTC. But given the rapid pace of change in the products and delivery of financial products to investors, there is always room to build and strengthen our relationships at every level.

NASAA members are unique among all federal and state regulators in that we can bring enforcement actions for both securities law and commodities law violations. This is particularly relevant given the recent epidemic of schemes involving cryptocurrencies and other modern types of commodities.

State securities regulators look forward to strengthening our bond with the CFTC to enhance investor protection and prevent fraud. The MOU we are signing today provides another avenue for state securities and federal commodities regulators to work together and share information.

Chairman Giancarlo, I look forward to continuing to explore other areas in which we can build upon our relationship for the protection of investors.

Thank you.

For more information, see: CFTC, NASAA Sign Agreement for Greater Information Sharing Between Federal Commodities and State Securities Regulators

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