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.

June 18, 2009

NASAA amicus brief filed in the U.S. Supreme Court in Jones v. Harris Associates, supporting the right of mutual fund shareholders to pursue claims against the fund’s investment adviser for charging excessive fees in breach of the fiduciary duty under Section 36(b) of the Investment Company Act.

April 10, 2009

NASAA’s amicus brief filed jointly with AARP and MetLife on April 10, 2009, in the D.C. Circuit, arguing that the SEC’s new rule regulating equity-indexed annuities under federal securities law should be upheld on legal and policy grounds. (American Equity v. SEC)

March 19, 2009

NASAA’s amicus brief filed on March 19, 2009, in the Tennessee Supreme Court, arguing that a criminal conviction under state law for willful failure to register as a broker or agent does not require a showing of specific intent. (Tennessee v. Casper) Part 2

March 19, 2009

NASAA’s amicus brief filed on March 19, 2009, in the Tennessee Supreme Court, arguing that a criminal conviction under state law for willful failure to register as a broker or agent does not require a showing of specific intent. (Tennessee v. Casper) Part 1

March 4, 2009

NASAA Amicus brief filed in the U.S. Supreme Court arguing that OCC rules do not preempt the New York Attorney General ‘s authority to investigate discriminatory lending practices by national banks and their operating subsidiaries.

July 28, 2008

NASAA files an amicus brief in the Eighth Circuit in Pet Quarters, Inc. v. The Depository Trust and Clearing Corporation, arguing that federal law does not preempt a fraud claim under state law against various clearing and settlement organizations.

September 7, 2007

NASAA filed an amicus brief in support of the New York Attorney General’s opposition to a stockbroker’s petition to confirm an expungement recommendation issued by an arbitration panel. (O’Neill)

September 7, 2007

NASAA filed an amicus brief in support of the New York Attorney General’s opposition to a stockbroker’s petition to confirm an expungement recommendation issued by an arbitration panel. (Gibson)

September 6, 2007

NASAA files brief in Richard W. Mack v. Utah Department of Commerce, Division of Securities, arguing (1) Mack’s request for injunctive relief should be dismissed for failure to exhaust his administrative remedies as required by the Administrative Procedures Act; and (2) res judicata does not preclude Utah from pursuing an administrative enforcement action against Mack’s license for his participation in a “ponzi” scheme and defrauding investors.

August 24, 2007

NASAA files an amicus brief in New York Supreme Court addressing issues related to the application of NASD Rule 2130 and the expungement of customer complaint information from the CRD.