The new president of the North American Securities Administrators Association (NASAA), William Beatty, says he intends to step up the group’s efforts to protect senior investors.
Beatty, who is also Washington’s Securities Director, began a one-year term as president of NASAA Tuesday. Upon taking the helm of the group of state and provincial regulators, he said he intends to expand NASAA’s ongoing initiatives focused on the protection of senior investors.
“Throughout my term I hope to bring a new way of looking at our issues to find effective and efficient resolutions for investors, regulators and industry alike,” Beatty said in remarks at NASAA’s annual conference. “I strongly believe in NASAA’s mission to protect retail investors and foster capital formation. Balancing our obligations to these communities is sometimes challenging, but providing assistance to these communities is hugely satisfying.”
NASAA also announced the formation of an advisory council to help inform the work of its new board-level committee on senior issues and diminished capacity. “We look forward to working closely with an advisory council of experts from government, business, senior advocacy organizations, academia and medical and legal practitioners, as we move forward in this ever increasingly important area of investor protection and service,” said Beatty.
He also stressed the group’s efforts to work with the securities industry, particularly in the areas of diminished capacity and fee disclosure. “We probably have a lot more in common than you might think,” he noted.
And, Beatty said he intends to enhance NASAA’s work with Canadian and Mexican securities regulators. “A number of the issues we are dealing with know no borders,” he said.
At the annual conference, Beatty also announced NASAA’s new board, including: its president-elect, Judith Shaw of Maine; past president, Andrea Seidt of Ohio; the lone Canadian representative, Kathryn Daniels from the Ontario Securities Commission (OSC); along with Melanie Lubin, Maryland; Joseph Borg, Alabama; Gerald Rome, Colorado; Michael Rothman, Minnesota; and, Daphne Smith, Tennessee.