1999 Headlines
October 7, 1999
Online brokerage regulation roundtable set for November 1 in Washington, D.C.
SEC Commissioner Laura Unger, brokerage executives, others to discuss” suitability rule,” other topics WASHINGTON (October 7, 1999) – The head of a group of state securities regulators will moderate a roundtable on November 1 asking whether online investors need the same regulatory safety net as investors who rely on advice from traditional stockbrokers. Bradley Skolnik, […]
October 6, 1999
State securities regulators streamline program for entrepreneurs wanting to go public
WASHINGTON (October 6, 1999) – State securities regulators have streamlined and improved a program designed to help local entrepreneurs raise seed capital to expand their businesses through small stock offerings. The program, known as SCOR, for “Small Company Offering Registration,” has allowed more than 1,100 companies across the country to sell shares to the public. […]
September 28, 1999
Securities industry urged to tell investors to check out stockbrokers’ backgrounds
WASHINGTON (September 28, 1999) — Securities firms should tell new customers to check a regulatory database to verify the backgrounds of their stockbrokers and to see whether they’ve had serious problems with regulators, the new head of a group of state securities regulators said today. Bradley Skolnik, incoming president of the North American Securities Administrators […]
September 14, 1999
Senate to hold hearing on day trading Sept. 16
State, industry and federal regulators to testify (September 14, 1999) – The Senate Permanent Subcommittee on Investigations, chaired by Sen. Susan Collins (R-ME), will hold a hearing on day trading at 9.30 a.m. Thursday (Sept. 16) in Room 628 of the Dirksen Senate Office Building. Scheduled to testify are Peter C. Hildreth, New Hampshire’s director […]
September 1, 1999
State securities cops warn about religious “affinity fraud”
Losses in Greater Ministries case feared at $200 million WASHINGTON (September 1, 1999) – State securities regulators today issued a warning about con artists who target members of religious groups. The warning follows state regulatory and law enforcement actions in recent months in securities fraud cases in which members of religious groups were targeted by […]
August 9, 1999
State securities regulators highlight problems with day trading
Report calls on firms to fully disclose risks, screen customers better Regulators urged to step up enforcement, explicitly ban lending schemes Independent analysis finds that at least 70% of traders lose money and only 11.5% might profitably trade WASHINGTON (August 9, 1999) – State securities regulators today issued a report based on a seven-month investigation of the […]
August 5, 1999
Securities regulators seek input on database for investment advisers
An open forum to gather ideas is scheduled for Sept. 27 WASHINGTON (August 5, 1999) – State and federal securities regulators are seeking ideas from the financial planning industry, trade groups, consumer organizations and others as they design an electronic database to contain records on investment adviser firms and investment adviser representatives. The system, to […]
August 3, 1999
SEC microcap fraud actions: State securities regulators issue statement
(August 3, 1999) – As the SEC announced another microcap fraud sweep this morning, Peter C. Hildreth, New Hampshire’s director of securities regulation and president of the North American Securities Administrators Association (NASAA) issued the following statement: These latest actions are another victory in the war against microcap stock fraud. Working together regulators are winning. […]
July 30, 1999
State securities regulators repeat warnings about stock day trading
WASHINGTON (July 30, 1999) – In wake of the tragedy in Atlanta on Thursday, the North American Securities Administrators Association (NASAA) issued the following statement: The majority of the day trading firms state securities regulators have investigated in the past year have misled customers by exaggerating the potential profits of day trading and downplaying the […]
July 19, 1999
