When was the North American Securities Administrators Association founded?
NASAA was founded in Kansas in 1919, making it the oldest international investor protection organization in the world.
Questions about North American Securities Administrators Association
Short answers, pulled from the story.
How many members does NASAA have?
NASAA has 67 administrators drawn from the states, territories, and districts of the United States, the provinces of Canada, and Mexico.
What exams does NASAA write for securities professionals?
NASAA writes three exams: the Series 63 (Uniform Securities Agent State Law Exam), the Series 65 (Uniform Investment Adviser Law Exam), and the Series 66 (Uniform Combined State Law Exam). All three are administered by FINRA.
Does the NASAA Series 66 exam require any co-requisites?
Yes. The Series 66 requires the Series 7 as a co-requisite. The Series 63 and Series 65 have no such requirement and do not require firm sponsorship.
What role does NASAA play in Regulation A capital formation?
NASAA provides a coordinated review process for companies using Regulation A of the Securities Act of 1933 to raise capital, reducing duplicative state-by-state reviews.
What kinds of investor protection activities does NASAA engage in?
NASAA issues frequent warnings about investment fraud, highlights the tax advantages of college savings plans, and has pursued naked short selling litigation against the Depository Trust and Clearing Corporation. It also coordinates multi-state enforcement actions and trains securities agency staff across its member jurisdictions.