NASAA Reports on 2024 Enforcement Actions

In its 2024 enforcement report based on 2023 data, the North American Securities Administrators Association ("NASAA") highlighted an increase in enforcement actions tied to digital assets, social media fraud, Ponzi schemes and precious metals scams. 

NASAA reported:

• 7,914 complaints received, with 5,155 new investigations initiated;
• 1,186 enforcement actions taken;
• $333 million in restitution and fines ordered; and
• 461 years of prison sentences and 227 years of probation issued.

NASAA emphasized the growing role of digital assets in fraud cases, noting that 343 investigations and 155 enforcement actions involved digital assets. In addition, NASAA said that 43 states have adopted legislation based on the NASAA Model Act to Protect Vulnerable Adults from Financial Exploitation, with state regulators opening nearly 1,100 investigations related to senior financial abuse.