The North American Securities Administrators Association (NASAA) released its 2018 Enforcement Report based on 2017 data collected from 51 NASAA US members. NASAA reported that state securities regulators conducted 4,790 investigations in 2017 and took 2,105 enforcement actions overall. These actions led to the ordered restitution of nearly $486 million to investors, fines of nearly $79 million and criminal relief of 1,985 years, including incarceration and probation. The newly released survey reveals that seniors continue to be a primary target of fraudsters. NASAA members continue to prioritize senior financial exploitation through enforcement and through encouraging adoption of the NASAA Model Act to Protect Vulnerable Adults from Financial Exploitation, which we addressed in a prior issue of this publication.

According to NASAA members, actions against unregistered individuals and firms increased 24 percent over the prior year and surpassed actions against registered individuals and firms by 675 against 647, respectively.

The complete enforcement report is available on the NASAA website at

Originally published in REVERSEinquiries: Volume 1, Issue 7.

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