Title: Emphasizing the importance of grassroots investor protection and the investor education missions of State and Federal securities regulators, calling on the Securities and Exchange Commission to collaborate with State securities regulators in the protection of investors, and for other purposes.
Policy area: Finance and Financial Sector

Summary:
This resolution (1) supports the efforts of state securities regulators to promote capital investment and educate investors, and (2) urges collaboration between the Securities and Exchange Commission and state securities regulators.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 456 Introduced in House (IH)]

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116th CONGRESS
  1st Session
H. RES. 456

 Emphasizing the importance of grassroots investor protection and the 
investor education missions of State and Federal securities regulators, 
 calling on the Securities and Exchange Commission to collaborate with 
  State securities regulators in the protection of investors, and for 
                            other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 21, 2019

  Ms. Pressley (for herself and Mr. Huizenga) submitted the following 
 resolution; which was referred to the Committee on Financial Services

_______________________________________________________________________

                               RESOLUTION


 
 Emphasizing the importance of grassroots investor protection and the 
investor education missions of State and Federal securities regulators, 
 calling on the Securities and Exchange Commission to collaborate with 
  State securities regulators in the protection of investors, and for 
                            other purposes.

Whereas State securities regulators are the original pioneers of regulating the 
        United States capital markets and have protected investors during times 
        of boom and bust, from ticker tape to the block-chain;
Whereas State securities regulators founded the North American Securities 
        Administrators Association (NASAA) as a voluntary association in 1919, 8 
        years after the first securities laws were enacted in Kansas in 1911;
Whereas NASAA's membership in 2019 includes securities administrators in the 50 
        States, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, 
        Canada, and Mexico;
Whereas the fundamental mission of the State securities regulators is protecting 
        investors who transact in securities and receive investment advice, and 
        their jurisdiction extends to a wide variety of issuers and 
        intermediaries who offer and sell securities to the public;
Whereas State securities regulators are leaders in civil and administrative 
        enforcement actions, as well as criminal prosecutions of securities 
        violators;
Whereas State securities regulators have led efforts resulting in landmark 
        settlements to stop unfair practices in the securities industry, the 
        return of billions of dollars to harmed investors, and thousands of bad 
        actors sitting in jail as the result of their work in investigating and 
        uncovering fraud;
Whereas State securities regulators independently and within the framework of 
        NASAA have also devised innovative ways for small companies to raise 
        investment capital;
Whereas State securities regulators independently and within the framework of 
        NASAA conduct investor education programs throughout the United States, 
        providing important information to main street Americans on investing 
        for a secure future and avoiding scams; and
Whereas State securities regulators are known for their accessibility and 
        accountability to the investing public and have been willing to push the 
        envelope when it comes to protecting investors: Now, therefore, be it
    Resolved, That the House of Representatives--
            (1) emphasizes the longstanding role of State securities 
        regulators in maintaining investor protection and vibrant 
        capital markets in the United States;
            (2) supports the efforts of State securities regulators to 
        educate investors throughout the United States;
            (3) supports the efforts of State securities regulators to 
        promote responsible and efficient capital formation for the 
        benefit of small businesses and investors throughout the United 
        States;
            (4) urges State securities regulators to continue working 
        independently and within the voluntary framework of NASAA to 
        protect and educate investors and promote capital formation; 
        and
            (5) urges the Securities and Exchange Commission to 
        maintain and expand voluntary collaboration with State 
        securities regulators in the interest of the investing public.
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