State Securities Regulators to Offer Testimony on Enhancing Enforcement

The North American Securities Administrators Association (NASAA) announced today that Massachusetts Secretary of the Commonwealth William Galvin and Delaware Securities Commissioner James Ropp are scheduled to appear before the House Financial Services Committee in order to offer proposals on enhancing the enforcement of financial crimes. The hearing, “Federal and State Enforcement of Financial Consumer and Investor Protection Laws,” begins at 10 a.m. tomorrow in room 2128 of the Rayburn House Office Building. Other federal and state regulators and law enforcement officials are also scheduled to testify at the hearing, which will be chaired by Committee Chairman Barney Frank (D-MA).

NASAA said that Ropp will outline the states’ record of enforcing securities laws and securing tough punishments for those who abuse the trust of Main Street investors. Ropp serves as the chair of NASAA’s Enforcement Section, which coordinates the enforcement efforts of state securities regulators, federal agencies and the self-regulatory organizations in the event of multi-state frauds.