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Current Headlines

August 7, 2020

NASAA Statement on Confirmations of Hester Peirce and Caroline Crenshaw to Serve on the U.S. Securities and Exchange Commission

NASAA President Christopher W. Gerold: “On behalf of state and provincial securities regulators, I congratulate Caroline Crenshaw and Hester Peirce on their confirmations to serve on the SEC. We look forward to working with Commissioners Crenshaw and Peirce, their fellow commissioners and Chairman Clayton on our shared goal of protecting Main Street investors and the integrity of the securities markets they depend upon for financial security.”
July 21, 2020

New NASAA Study Examines Issues Related to Financial Professionals and Diminished Capacity

“Discussions with industry members and other regulators clearly indicate that firms are encountering financial professionals with diminished capacity or cognitive issues that stem from a variety of factors, including an aging workforce,” said Christopher W. Gerold, NASAA President and Chief of the New Jersey Bureau of Securities.
July 16, 2020

NASAA’s Electronic Filing Depository to Accept Mutual Fund Filings

Beginning July 20, 2020, the UFT functionality will add an option for mutual fund notice filings to the list of accepted forms to be filed electronically.
July 1, 2020

NASAA Seeks Public Comment on Proposed Model Act to Establish Restitution Fund for Victims of Securities Law Violations

“The intent of this model legislation is to provide financial assistance to victims of securities law violations who were awarded restitution but have not received full payment,” said Christopher W. Gerold, NASAA President and Chief of the New Jersey Bureau of Securities.
June 17, 2020

Guidance Issued for Historical Franchise Performance Representations Reflecting COVID-19 Impacts

NASAA's Franchise and Business Opportunities Project Group today issued guidance regarding franchisors using historical financial performance representations in 2020 considering the significant impact the COVID-19 pandemic has had on many franchise businesses.
June 16, 2020

NASAA Updates COVID-19 Enforcement Task Force Actions

NASAA today updated the status of the work of the COVID-19 Enforcement Task Force, consisting of state and provincial securities regulators, to identify and stop potential threats to investors stemming from the pandemic.
June 16, 2020

NASAA Outlines Strong State Response to COVID-19 Fraud in House Testimony

NASAA today told Congress that state securities regulators are undertaking decisive action aimed at rooting out and shutting down frauds related to the COVID-19 pandemic. Many of these schemes are targeting vulnerable senior investors who are experiencing unprecedented quarantines to protect against the spread of the novel coronavirus.
May 27, 2020

NASAA’s Electronic Filing Depository Functionality Expanded

The system’s expanded functionality allows the electronic submission of various corporation finance filings and associated state fees. The new functionality is particularly important as regulators and industry rely more heavily on remote working arrangements following the spread of COVID-19. Many of these filings were previously paper based.
May 26, 2020

NASAA Board Approves the Release for Public Comment of a Proposed Model Act to Award and Protect Whistleblowers

“The intent of this model legislation is to incentivize individuals who have knowledge of potential securities law violations to report it to state regulators in the interest of investor protection,” said Christopher W. Gerold, NASAA President and Chief of the New Jersey Bureau of Securities.
May 26, 2020

NASAA Urges Congress to Remain Skeptical of Proposals to Weaken Securities Laws in Response to Pandemic

“It is important to remember that neither the securities laws nor the functioning of the capital markets is the root cause of the present economic distress. Prior to the pandemic, the securities laws and our capital markets were serving their intended purposes – the protection of investors and allocation of investment capital. This has remained true during the height of pandemic and remains true today,” said NASAA President Christopher W. Gerold.