Legal Briefs

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NASAA plays an important role in representing the membership’s position, including as amicus curiae, in significant legal proceedings that may have a widespread impact upon securities regulators and the rights of investors.

An index of all NASAA legal briefs is below.

August 30, 2024

NASAA amicus curiae brief regarding the impact of Jarkesy on Arizona antifraud enforcement and the scope of the non-public offering exemption.

June 27, 2024

NASAA amicus curiae brief arguing Missouri state securities regulations are not preempted by NSMIA or ERISA.

March 20, 2024

NASAA amicus curiae brief to the Michigan Supreme Court in support of the adoption of the Reves family resemblance test for promissory notes

December 20, 2023

NASAA amicus brief regarding the scope of uniform jurisdictional provisions and the lack of a compensation requirement to be a “broker-dealer.”

November 3, 2023

NASAA amicus curiae brief supporting FINRA against claims of unconstitutionality.

October 10, 2023

NASAA amicus curiae brief in support of the SEC’s enforcement action against Coinbase.

September 5, 2023

NASAA amicus curiae brief to the U.S. Supreme Court in support of the SEC’s continued ability to enforce the securities laws through administrative proceedings.

April 12, 2023

NASAA amicus curiae brief in support of the Massachusetts Securities Division’s authority to promulgate regulations establishing a fiduciary conduct standard for broker-dealers and their agents (on appeal to Supreme Judicial Court).

July 7, 2022

NASAA amicus curiae brief in support of the Michigan Corporations, Securities & Commercial Licensing Bureau’s adoption of the Reves family resemblance test for promissory notes.

September 15, 2021

NASAA amicus curiae brief in support of the Massachusetts Securities Division’s authority to promulgate regulations establishing a fiduciary conduct standard for broker-dealers and their agents.