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Legal Briefs

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.

April 30, 2021

NASAA amicus curiae brief in support of the Saint Lucie County Fire District Firefighters’ Pension Trust arguing for robust disclosures and flexible interpretations of the Securities Act

March 3, 2021

NASAA amicus curiae brief in support of lead plaintiffs Arkansas Teacher Retirement System and arguing for the continued vitality of private class actions as an important component of ensuring compliance with the securities laws.

August 19, 2020

NASAA amicus brief in support of the People of the State of Colorado regarding the appropriate interpretation of the Howey test under the Colorado Securities Act

July 23, 2020

NASAA Amicus Brief in Support of the Colorado Securities Commissioner’s Petition for Writ of Certiorari to the Colorado Supreme Court in Tung v. HEI Resources

March 31, 2020

NASAA amicus brief in support of New Jersey Bureau of Securities’ enforcement action against Credit Suisse and related entities.

January 23, 2020

NASAA amicus brief in support of the Securities and Exchange Commission in Liu v. SEC

May 31, 2019

NASAA amicus brief in support of the Colorado Securities Commissioner’s enforcement action against HEI Resources.

March 28, 2019

NASAA amicus brief with the U.S. Supreme Court in Emulex v. Varjabedian regarding the scope of liability under Section 14(e) of the Securities Exchange Act of 1934.

November 13, 2018

NASAA and Colorado Securities Commissioner joint amici brief to the Colorado Supreme Court regarding clawback of fictitious profits in Ponzi scheme recoveries.

October 12, 2018

NASAA amicus brief to the U.S. Supreme Court in support of the Securities and Exchange Commission’s enforcement action against Francis Lorenzo in Francis V. Lorenzo v. Securities and Exchange Commission.