In its 2021 enforcement report based on 2020 data, the North American Securities Administrators Association ("NASAA") highlighted an uptick in state enforcement actions related to commodities/precious metals, cybercrime, private offerings and self-directed individual retirement accounts.
NASAA reported:
- 5,498 complaints received, with 5,501 investigations initiated;
- 2,202 enforcement actions taken;
- $306 million in restitution; and
- 919 years of criminal relief ordered, along with 4,413 license sanctions.
NASAA also reported that 32 states have implemented legislation modeled after the NASAA Model Act to Protect Vulnerable Adults from Financial Exploitation. Of those states, 24 brought enforcement actions related to the NASAA model act.
Primary Sources
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
