assembled a working group to develop the Model Fee Disclosure after a survey conducted by the group revealed a "wide disparity" among broker-dealers in how they disclose fees, as well as the fact that BDs are using "questionable practices" in relation to fee charges and markups.
Although the Commission was unwilling to advocate on behalf of preemption or expand preemption by regulation, the anti-preemption forces under the leadership of state regulators and NASAA
continued to wage an aggressive and imaginative campaign against preemption.
Laura Posner, NASAA
enforcement section head and chief of the New Jersey Bureau of Securities, attributed the increase in actions brought against registered securities industry members to enhanced regulatory scrutiny, and noted that the actions involved claims ranging from books and records violations, to failure to supervise, unsuitable sales, dishonest or unethical practices, unauthorized trading and fraud.
has maintained a working group of states, including Florida, in pursuit of other auctionrate matters.
Whether such legislation is actually based on the model rules of the NASAA
or the NAIC, it's really the thought that counts, said Wisconsin Securities Administrator Patricia Struck, who is chair of NASAA
's Investment Adviser Section and one of its former presidents.
, which began conducting the study months before the shooting, accused day-trading companies of exaggerating the rewards and downplaying the risks of day trading.
In the spring of 1989, NASAA
through its Corporation Finance Section and Disclosure Standards Committee adopted a resolution declaring blank-check, blind-pool offerings to be fraudulent practices.
Working with NASAA
and other state regulators, the Department of Corporations has successfully settled auction rate securities cases with fourteen brokerages.
conducted the survey in the spring and summer of 2017.
, represents state agencies that approve educational and training programs for persons eligible for veterans educational benefits, helps make the GI Bill work.
However, "continued progress is necessary to best serve our aging population," said NASAA
President and Maine Securities Administrator Judith Shaw.
no doubt publicizes these threats, and countless seniors benefit from learning about them.