NASAA Reports Rise in Enforcement Actions against Licensed Broker-Dealer Sales Agents

The North American Securities Administrators Association ("NASAA") issued a report, titled "NASAA Enforcement Report: 2014 Report on 2013 Data," that revealed a significant rise in the number of formal enforcement actions initiated by state securities regulators in 2013 against licensed broker-dealer sales agents, unlicensed individuals and firms.

According to the report, the leading actors in enforcement actions brought by state securities regulators continue to be unlicensed individuals and firms. Additionally, states reported 810 actions against unlicensed individuals and firms in 2013 – an increase of 34 percent from the 603 actions reported the year before.

See: 2014 Enforcement Report on 2013 Data; Press Release.