NASAA President Melanie Senter Lubin to Highlight Scams and Risks Facing Investors and Urge Passage of Laws to Strengthen Investor Trust in the Public Capital Markets

WASHINGTON, D.C. – (July 28, 2022) – North American Securities Administrators Association (NASAA) President and Maryland Securities Commissioner Melanie Senter Lubin will testify during a hearing to be held today at 10:00 a.m. ET by the U.S. Senate Committee on Banking, Housing, and Urban Affairs to discuss scams and risks to investors in the crypto and securities markets.

Commissioner Lubin will focus her remarks on top threats to retail investors, including fraudulent investments tied to digital assets, social media and online scams, and schemes connected to self-directed individual retirement accounts.

In addition, Commissioner Lubin will urge Congress to advance measures to strengthen the prevention and detection of investor harm, to ensure those charged with enforcing the law have the tools needed to do the job, and to refrain from rushing into legislation related to digital assets without first engaging in a robust policy-making process.

Commissioner Lubin will also highlight NASAA member activity to combat investor fraud in the digital asset space, as well as frauds involving both registered and unregistered persons and firms.

In advance of the hearing, Commissioner Lubin stated, “NASAA and its members have led efforts in the United States to investigate and, if appropriate, pursue action against hundreds of companies and individuals for fraud or similar misconduct relating to digital assets. It is imperative that investors today be especially vigilant when it comes to making decisions on how to invest their money and whom they entrust to help them with those important decisions.”

To watch Commissioner Lubin testify before the Committee, please click here.

About NASAA:

Organized in 1919, the North American Securities Administrators Association (NASAA) is the oldest international organization devoted to investor protection. NASAA is a voluntary association whose membership consists of the securities regulators in the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, the 13 provincial and territorial securities regulators in Canada, and the securities regulator in México. For more information, visit www.nasaa.org.

For More Information:

Jeanne Hamrick | Director of Communications
202-737-0900

Karen Grajales | Communications & Investor Outreach Manager
202-737-0900