North American Securities Administrators Association Inc (NASAA)
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New NASAA chief: Time to beef up the SEC
Ohio Securities Commissioner Andrea Seidt is concerned that the Securities and Exchange Commission is getting bogged down. As the newly appointed head of the North American Securities Administrators Association Inc., she wants state securities regulators to help the SEC get more federal funding and
Eyeing whether E&O should cover arb awards
State regulators want to ensure that brokers pay arbitration awards to harmed investors, but question how.
Take 5: New NASAA president Andrea Seidt
Ohio Securities Commissioner Andrea Seidt is concerned that the Securities and Exchange Commission is getting bogged down.
National online system proposed for securities offerings
New NASAA president proposes creating a national online system for securities offerings that she says would help protect investors and at the same time help companies raise capital.
Regulators: Don't get lost in the soup
NASAA, SEC issue note about titles used by financial advisers amid confusion.
Arbitration bill is introduced
Rep. Keith Ellison, D-Minn., a member of the House Financial Services Committee, has introduced legislation that would end mandatory arbitration in broker and investment adviser agreements with clients, but the bill faces an uphill battle.
Risky alt investments being probed
The Massachusetts securities cop last week sent subpoenas to 15 brokerages as part of a probe of sales of alternatives. Here are the products the regulator is zeroing in on.
Tussle over mandatory arbitration
The Securities and Exchange Commission may be putting off reforming mandatory-arbitration clauses in brokerage contracts, but that doesn't mean state regulators are backing off their fight to change the system.
States to midsize firms: Skip the outside help
Midsize advisory firms that are under the oversight of state regulators don't need to hire expensive consulting firms to manage the transition, but they do need to take the transition seriously, according to Michigan's securities director.
State regulators blast SEC over Reg D ad proposal
State securities regulators blasted the Securities and Exchange Commission Wednesday over the agency's controversial proposal to end advertising restrictions on private placements.The rule would open the door to general solicitation for private securities issued under Rule 506 of SEC Regulation D.
Supervision is lacking at B-Ds, NASAA says
State regulators are seeing fewer problems with variable annuity sales but continue to see violations in some areas of supervision at broker-dealers, according to a review of 236 exams conducted in the first half.
With NASAA president Heath Abshure: 'We also need to be active in drafting legislation'
Arkansas Securities Commissioner Heath Abshure, the newly elected president of the North American Securities Administrators Association Inc., last week called on state regulators to get more aggressive on the legislative front in protecting their interests, as well as those of investors.
Midsize advisers who don't switch could have their registrations withdrawn
Midsize advisers who haven't completed their switch to state registration from the SEC could have their registrations withdrawn — possibly by the end of the year.
RIA enforcement cases double: NASAA
State regulators brought almost twice as many enforcement actions against registered investment advisory firms last year as in 2010. They expect to bring even more cases this year, now that about 2,400 advisory firms previously overseen by the SEC have come under their purview.
NASAA head bashes idea of SRO - in Finra's backyard
A state securities regulator, speaking at a conference Tuesday, was not bashful about slamming proposed legislation — even though the host of the conference has come out strongly in favor of the measure.
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February 27, 2014