North American Securities Administrators Association
Encyclopedia
The North American Securities Administrators Association (NASAA), founded in Kansas
in 1919, is the oldest international investor protection organization. NASAA is an association of state securities administrators who are charged with the responsibility to protect consumers who purchase securities or investment advice. NASAA's membership consists of 67 administrators from the territories, districts, and states of the United States
, from Mexico
, and from the provinces of Canada
.
In the United States, NASAA is the voice of state securities agencies responsible for efficient capital formation and grassroots investor protection. NASAA's fundamental mission is protecting consumers who purchase securities or investment advice, and its jurisdiction extends to a wide variety of issuers and intermediaries who offer and sell securities to the public.
Through the association, NASAA members participate in multi-state enforcement actions and information sharing. NASAA also coordinates and implements training programs and education seminars for state, district, provincial, and territorial securities agency staff. The Uniform Securities Agent State Law Exam
is written and administered by NASAA.
Representative of the nature of its activities are its frequent warnings regarding investment fraud,http://investmentexecutive.com/client/en/News/DetailNews.asp?Id=42356&cat=8&IdSection=8&PageMem=&nbNews=&IdPub=, its focus on the tax advantage
s of college plans,http://www.nctimes.com/articles/2007/12/09/business/chamberlin/19_22_4012_8_07.txt, and its involvement in naked short selling
litigation aimed at the Depository Trust and Clearing Corporation.http://www.nasaa.org/content/Files/ShortSalesComment.37990-38287.pdf
Kansas
Kansas is a US state located in the Midwestern United States. It is named after the Kansas River which flows through it, which in turn was named after the Kansa Native American tribe, which inhabited the area. The tribe's name is often said to mean "people of the wind" or "people of the south...
in 1919, is the oldest international investor protection organization. NASAA is an association of state securities administrators who are charged with the responsibility to protect consumers who purchase securities or investment advice. NASAA's membership consists of 67 administrators from the territories, districts, and states of the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, from Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
, and from the provinces of Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
.
In the United States, NASAA is the voice of state securities agencies responsible for efficient capital formation and grassroots investor protection. NASAA's fundamental mission is protecting consumers who purchase securities or investment advice, and its jurisdiction extends to a wide variety of issuers and intermediaries who offer and sell securities to the public.
Through the association, NASAA members participate in multi-state enforcement actions and information sharing. NASAA also coordinates and implements training programs and education seminars for state, district, provincial, and territorial securities agency staff. The Uniform Securities Agent State Law Exam
Uniform Securities Agent State Law Exam
The Uniform Securities Agent State Law Examination, commonly referred to as the Series 63, is developed by North American Securities Administrators Association and is administered by the Financial Industry Regulatory Authority...
is written and administered by NASAA.
Representative of the nature of its activities are its frequent warnings regarding investment fraud,http://investmentexecutive.com/client/en/News/DetailNews.asp?Id=42356&cat=8&IdSection=8&PageMem=&nbNews=&IdPub=, its focus on the tax advantage
Tax advantage
Tax advantage refers to the economic bonus which applies to certain accounts or investments that are, by statute, tax-reduced, tax-deferred, or tax-free...
s of college plans,http://www.nctimes.com/articles/2007/12/09/business/chamberlin/19_22_4012_8_07.txt, and its involvement in naked short selling
Naked short selling
Naked short selling, or naked shorting, is the practice of short-selling a financial instrument without first borrowing the security or ensuring that the security can be borrowed, as is conventionally done in a short sale. When the seller does not obtain the shares within the required time frame,...
litigation aimed at the Depository Trust and Clearing Corporation.http://www.nasaa.org/content/Files/ShortSalesComment.37990-38287.pdf
See also
- Uniform Securities ActUniform Securities ActThe Uniform Securities Act is a model statute designed to guide each state in drafting its state securities law. It was created by the National Conference of Commissioners on Uniform State Laws ....
- Uniform Securities Agent State Law ExamUniform Securities Agent State Law ExamThe Uniform Securities Agent State Law Examination, commonly referred to as the Series 63, is developed by North American Securities Administrators Association and is administered by the Financial Industry Regulatory Authority...
(Series 63) - Mark J. Astarita's introductory article Introduction to the Blue Sky Laws
- State Securities Laws and Commissions