North American Securities Administrators Association

SEC Spotlights Due Diligence During World Investor Week 2023

Retrieved on: 
Monday, October 2, 2023

Washington, D.C.--(Newsfile Corp. - October 2, 2023) - The Securities and Exchange Commission today announced it will highlight the importance of investor education and protection during World Investor Week (WIW) 2023 , which takes place October 2-8.

Key Points: 
  • Washington, D.C.--(Newsfile Corp. - October 2, 2023) - The Securities and Exchange Commission today announced it will highlight the importance of investor education and protection during World Investor Week (WIW) 2023 , which takes place October 2-8.
  • Together with these organizations, the SEC’s Office of Investor Education and Advocacy (OIEA) issued a joint Investor Bulletin today to promote WIW's key initiatives.
  • “Investor protection is at the heart of everything we do at the Securities and Exchange Commission, and World Investor Week provides an important opportunity to advance our mission,” said SEC Chair Gary Gensler.
  • To learn more about the SEC’s outreach activities and to get involved with WIW, visit the SEC's World Investor Week page.

2023 COMPLY Regulation Rundown Arms Compliance Leaders with a Comprehensive Overview of Dynamic Regulatory Landscape

Retrieved on: 
Thursday, August 3, 2023

NEW YORK, Aug. 3, 2023 /PRNewswire/ -- COMPLY, the global market leader of compliance software, consulting and education resources for the financial services sector, published its 2023 Regulation Rundown, a comprehensive review of recent regulatory changes and enhancements as well as proposed amendments and rules from most financial services regulatory agencies and associations. The whitepaper aims to empower compliance professionals across the sector with insights to navigate the intricacies and nuances of the recent changes with confidence, avoiding violation and driving continued growth.

Key Points: 
  • The rules selected and outlined in this guide include those proposed, adopted and enacted since 2022.
  • Summaries of regulations were taken from the original proposal text, or the webpage dedicated to that regulation, as of August 01, 2023.
  • COMPLY's team of experts meticulously researched and analyzed the material to distill the most relevant rules and information for this publication.
  • The past few years have seen a wave of changes to financial services regulations, which COMPLY Chief Regulatory Officer John Gebauer has classified as an unprecedented period of regulatory rulemaking.

SEC, NASAA, and Wisconsin DFI to host Investor Roundtable in Madison, Wisconsin on July 25

Retrieved on: 
Friday, July 21, 2023

The afternoon session of the roundtable will be webcast on the SEC website.

Key Points: 
  • The afternoon session of the roundtable will be webcast on the SEC website.
  • SEC Chair Gary Gensler will provide virtual opening remarks, and SEC Commissioner Mark Uyeda will attend in-person.
  • I look forward to welcoming our SEC colleagues, and further strengthening investor advocacy in Wisconsin,” said Leslie Van Buskirk , Wisconsin Department of Financial Institutions Securities Division Administrator and Vice Chair of the SEC’s Investor Advisory Committee .
  • Location:          Wisconsin Department of Financial Institutions Headquarters, Hill Farms State Office Building - 4822 Madison Yards Way, Madison, WI 53705

SEC, NASAA, FINRA to Co-Host Webinar on Identifying and Reporting Suspected Senior Financial Exploitation

Retrieved on: 
Wednesday, June 7, 2023

The Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA) and FINRA will be co-hosting the Senior Safe Act Webinar: Identifying and Reporting Suspected Exploitation .

Key Points: 
  • The Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA) and FINRA will be co-hosting the Senior Safe Act Webinar: Identifying and Reporting Suspected Exploitation .
  • The discussion will build on the SEC, NASAA and FINRA’s joint training released in 2021 on Addressing and Reporting Financial Exploitation of Seniors and Vulnerable Adult Investors .
  • “FINRA continues to build upon our commitment to protecting senior investors by delivering important training opportunities and resources to help prevent financial exploitation,” said FINRA Foundation President Gerri Walsh .
  • The Act removes barriers financial professionals face in reporting suspected senior financial exploitation or abuse to authorities.

SEC Charges Red Rock Secured, Three Executives in Fraud Scheme Targeting Retirement Accounts

Retrieved on: 
Monday, May 15, 2023

In reality, Red Rock charged as much as 130 percent in markups, which allowed them to pocket more than $30 million of the more than $50 million they received from investors.

Key Points: 
  • In reality, Red Rock charged as much as 130 percent in markups, which allowed them to pocket more than $30 million of the more than $50 million they received from investors.
  • "We will investigate and charge similar schemes that target investor retirement accounts."
  • The SEC’s complaint, which was filed in U.S. District Court for the Central District of California, charges Red Rock, Kelly, Spencer, and Ward with violating the antifraud provisions of the federal securities laws.
  • This action arises from an investigation generated by the Division of Enforcement’s Thrift Savings Plan Initiative, which focuses on potentially improper practices targeting government employee retirement accounts.

SEC Announces New Members of Small Business Capital Formation Advisory Committee

Retrieved on: 
Thursday, May 4, 2023

Washington, D.C.--(Newsfile Corp. - May 4, 2023) - The Securities and Exchange Commission today announced 14 new members of the Small Business Capital Formation Advisory Committee .

Key Points: 
  • Washington, D.C.--(Newsfile Corp. - May 4, 2023) - The Securities and Exchange Commission today announced 14 new members of the Small Business Capital Formation Advisory Committee .
  • The new members were appointed to four-year terms to fill vacancies arising primarily from the expiration of prior members’ terms.
  • “I thank the new members for agreeing to serve on the Advisory Committee, which plays an important role in our work to facilitate capital formation for companies of every size,” said SEC Chair Gary Gensler.
  • Current Committee members also include three non-voting members appointed by each of the SEC’s Investor Advocate, the North American Securities Administrators Association, and the Small Business Administration.

Nexo Reaches Landmark Resolution with U.S. Regulators

Retrieved on: 
Thursday, January 19, 2023

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20230119005795/en/
    Important characteristics of the settlement with U.S. Federal regulators include:
    The settlements are on a no-admit-no-deny basis.
  • The U.S. Federal Regulators do not contend that Nexo engaged in any fraud, or misleading business practices, or that any Nexo customers have been harmed or misled about Nexo’s financial health.
  • “We are content with this unified resolution which unequivocally puts an end to all speculations around Nexo’s relations to the United States.
  • We can now focus on what we do best - build seamless financial solutions for our worldwide audience,” said Antoni Trenchev, Co-founder of Nexo.

Nexo Agrees to Pay $45 Million in Penalties and Cease Unregistered Offering of Crypto Asset Lending Product

Retrieved on: 
Thursday, January 19, 2023

To settle the SEC’s charges, Nexo agreed to pay a $22.5 million penalty and cease its unregistered offer and sale of the EIP to U.S. investors.

Key Points: 
  • To settle the SEC’s charges, Nexo agreed to pay a $22.5 million penalty and cease its unregistered offer and sale of the EIP to U.S. investors.
  • In parallel actions announced today, Nexo agreed to pay an additional $22.5 million in fines to settle similar charges by state regulatory authorities.
  • According to the SEC’s order, in or around June 2020, Nexo began to offer and sell the EIP in the United States.
  • The EIP allowed U.S. investors to tender their crypto assets to Nexo in exchange for Nexo’s promise to pay interest.

SEC to Spotlight Financial Planning and Resilience During World Investor Week 2022

Retrieved on: 
Monday, October 3, 2022

Washington, D.C.--(Newsfile Corp. - October 3, 2022) - The Securities and Exchange Commission today announced that it will highlight the importance of long-term planning and investor resilience during World Investor Week (WIW) 2022, which takes place October 3-9.

Key Points: 
  • Washington, D.C.--(Newsfile Corp. - October 3, 2022) - The Securities and Exchange Commission today announced that it will highlight the importance of long-term planning and investor resilience during World Investor Week (WIW) 2022, which takes place October 3-9.
  • Together with these organizations, the SEC's Office of Investor Education and Advocacy (OIEA) issued ajoint Investor Bulletin today to promote WIW's key initiatives.
  • Investor protection is core to our mission at the Securities and Exchange Commission, and we are honored to serve as the national coordinator in the United States for World Investor Week, said SEC Chair Gary Gensler.
  • Please visit the SEC's World Investor Week page to see a list of other SEC outreach activities.

Institute for Portfolio Alternatives Names Anya Coverman President and CEO

Retrieved on: 
Monday, September 19, 2022

WASHINGTON, Sept. 19, 2022 /PRNewswire/ -- The Institute for Portfolio Alternatives' (IPA) Board of Directors today announced it has appointed Anya Coverman as the organization's president and chief executive officer effective immediately. In this role, Coverman will provide strategic guidance to all association staff and oversee the daily operations of the organization.

Key Points: 
  • WASHINGTON, Sept. 19, 2022 /PRNewswire/ -- The Institute for Portfolio Alternatives' (IPA) Board of Directors today announced it has appointed Anya Coverman as the organization's president and chief executive officer effective immediately.
  • "My pledge is to provide all Institute for Portfolio Alternatives members, from long-time industry leaders to new entrants, with the steadfast industry leadership and relentless public policy advocacy required to create a favorable operating environment," said Coverman.
  • Since 2017, Coverman has served as the IPA's senior vice president of government affairs and general counsel.
  • The Institute for Portfolio Alternatives seeks to raise awareness of portfolio diversifying investment (PDI) products among stakeholders and market participants, including: investment advisors, public policymakers and the investing public.