Mike Rothman, the new chairman of the North American Securities Administrators Association (NASAA), cites cybersecurity, enforcement, and senior investors as his top priorities for the year ahead.

At the NASAA annual conference in Providence, R.I., on Tuesday, Rothman, Minnesota Commissioner of Commerce, began a one-year term as association president. NASAA’s new board also features Tom Cotter from the Alberta Securities Commission (ASC), along with representatives from various U.S. states.

In his inaugural address as president, Rothman singled out cybersecurity as a top priority, saying, “Cybersecurity will be a growing challenge for the securities industry and for securities regulators at all levels — federal, state and provincial.”

He stressed that the entire securities industry must take steps to ensure they are able to prevent, mitigate and respond to cyberattacks. “It is everyone’s responsibility – from the boardroom and top executives to rank-and-file employees and solo investment adviser firms,” Rothman said, adding that regulators “must be vigilant as well.”

Enforcement remains a top priority, too. “I plan to focus on enhancing resources, data and analytics opportunities within NASAA, and working collaboratively across our jurisdictions to find ways to better share information and stay on top of the latest fraud and criminal activity,” he said.

Rothman also said that more should be done to protect seniors and vulnerable adults from financial exploitation. “To stop financial crimes against seniors, I would like to see us work more closely with law enforcement agencies and prosecutors,” he said, adding that regulators also need to be working with other other groups such as seniors advocates.

Underlying all of these efforts is a desire for increased cooperation between jurisdictions and different agencies.

“Collaboration and working together is critical to our common regulatory imperative and mission: to protect investors from fraud and abuse, maintain fair and efficient financial markets, and support responsible capital formation to make a better economy,” Rothman said. “I would like us to look at additional opportunities for multi-jurisdictional investigations, examinations and other initiatives. We also plan to build on our multi-jurisdictional registration systems and technology, to enhance uniformity and efficiency in regulation.”

“As NASAA president, I hope to build on our strengths and accomplishments,” Rothman added. “We will focus on continuing to make NASAA an even better organization, stronger in our service to our state and provincial members and, above all, stronger in helping carrying out our responsibilities to protect the investing public.”