You are here: > Resources > North American Securities Administrators Association (NASAA)

North American Securities Administrators Association (NASAA)

Self Description

August 2004: "Organized in 1919, the North American Securities Administrators Association (NASAA) is the oldest international organization devoted to investor protection. We are a voluntary association whose membership consists of 66 state, provincial, and territorial securities administrators in the 50 states, the District of Columbia, Puerto Rico, Canada, and Mexico. In the United States, NASAA is the voice of the 50 state securities agencies responsible for efficient capital formation and grass-roots investor protection."

Third-Party Descriptions

August 2016: "The topic of possibly expanding state whistle-blower programs came up at a recent meeting of the North American Securities Administrators Association, the state securities regulators group. Laura Posner, chief of the New Jersey Bureau of Securities, said in an interview that the programs were viewed as a tool that both state and federal securities regulators could use to improve enforcement and deter financial fraud."

March 2011: "After spotting elderly people at risk, doctors can refer them to state securities regulators and adult services providers for help. The North American Securities Administrators Association and the National Adult Protective Services Association, the group for social workers who handle abuse cases, are backing the program, which provides medical professionals with specific resources to aid their patients."

September 2007: "Last year, 44 percent of complaints received by state security administrators were filed by older consumers, and almost half of those concerned complicated insurance products like annuities, according to data collected by the North America Securities Administrators Association."


RoleNameTypeLast Updated
Organization Head/Leader (past or present) Patricia Struck Person May 31, 2006

Articles and Resources

Date Resource Read it at:
Aug 21, 2016 To Crack Down on Securities Fraud, States Reward Whistle-Blowers

QUOTE: In the aftermath of the financial crisis, a growing army of confidential informants — better known as whistle-blowers — has helped federal securities regulators identify and prosecute wrongdoers. Now the same thing is happening at the state level...

New York Times
Mar 02, 2011 When Abuse of Older Patients Is Financial

QUOTE: Bilking old people is not new, said Steve Irwin, commissioner of the Pennsylvania Securities Commission, which is participating in the program. “Financial fraud is abuse, but it is less recognized and less reported.”

New York Times
Sep 06, 2007 Panel Questions Financial Advisers for the Elderly

QUOTE: Christopher Cox, the chairman of the Securities and Exchange Commission, and state regulators said they expected soon to propose guidelines prohibiting sales agents from using titles that imply an expertise in financial issues for older Americans, when that designation has little or no value.

New York Times
Jun 01, 2007 Investors looking for high yields should use caution

QUOTE: If you come across a financial or banklike offer that piques your interest but also makes you wonder even a little bit if it's legitimate, Stevenson urges you to contact your state banking supervisor or federal regulators before sending money.
May 17, 2007 How They'll Try to Sucker You, From 1 to 10

QUOTE: It's the top 10 ways people get involved in bogus or inappropriate investments. The list is compiled by the North American Securities Administrators Association. Some of the scams are old school. They've been around a long time and yet they continue to trap investors.

Washington Post
May 10, 2007 SEC Is Urged To Pursue Banks In Enron Fraud

QUOTE: Activists and former shareholders in the Houston energy trading company implored the Securities and Exchange Commission to file court briefs supporting their legal position in an effort to revive a case against such banks as Merrill Lynch, Credit Suisse First Boston and Barclays.

Washington Post
Aug 02, 2006 Fake Web sites: Don't buy into the lie

QUOTE: Your e-mail inbox probably overflows with eager offers to part you and your money. Many are from scammers looking to score information so they can dip their greedy fingers into your bank accounts.
Jun 01, 2006 Caught in a Deathtrap: Thousands of victims every year buy phony life insurance policies allegedly belonging to terminally ill patients. (Scam Alert)

QUOTE: In May 2004—eight months after Corona purchased the three viaticals from the commissioned sales agent at that free seminar—Mutual Benefits, the country's largest viaticals company, was shut down and sued for fraud by the SEC. Even with the removal of a major player, viatical fraud remains one of the country's top investment scams...

Mar 26, 2006 SEC targets investment scams aimed at seniors

QUOTE: The Securities and Exchange Commission...has launched a nationwide program to work with local regulators to combat what it sees as a rising wave of fraudulent investment scams being pitched to older Americans.

Sep 18, 2005 ISO: An Adviser To Trust: The Wrong Financial Guidance Can Cost You Dearly

QUOTE: Consumers who decide they need help in choosing investments may find that choosing an adviser is the first step -- and that winding up with the wrong adviser is a costly misstep.

Washington Post
Aug 01, 2005 Advance-fee scams spread through USA

QUOTE: Con artists posing as securities regulators are persuading investors to make payments into U.S. bank accounts before whisking the funds offshore in a twist on the fraud known as advance-fee scams.

Jul 01, 2004 Tossing Good Money After Bad Advice: Retirees can be easy marks for fast-talking brokers

QUOTE: "Retirement seminars are not meant to educate but to sell."

AARP Bulletin
May 30, 2004 Trust Is a Smart Investment

QUOTE: The Investor Protection Trust, a nonprofit devoted to investor chartered to educate the public about investing, using money collected in settlements against investment companies that have been accused of wrongdoing.

Washington Post