In the North American Securities Administrators Association’s (NASAA) most recent enforcement report, oil and gas investments were the fourth most common product involved in state securities enforcement cases, with nearly 40% of responding jurisdictions reporting energy-related faud cases. “Many of these investments are highly risky and illiquid and therefore are not appropriate for many investors,” said […]
The system of mandatory arbitration of disputes between brokerage firms and customers is again in the news. This time the North American Securities Administrators Assocation, Inc. has been lobbying the SEC to act on its authority under Dodd-Frank to end or limit the use of pre-dispute mandatory arbitration agreements included in virtually all customer agreements […]
The securities arbitraiton system should be refored or else investors should be given the option of taking their disputes to court, according to a group that represents state securities regulators. “We think it needs to be reformed,” said Joseph Borg, director of the Alabama Securities Commission in Montgomery and president of the North American Securities […]