The umbrella group of U.S. state and provincial regulators, the North American Securities Administrators Association (NASAA), is launching an advocacy group devoted to research into investor protection and investor education.
The NASAA Investor Protection and Education Foundation will conduct research to support investor protection and education initiatives, design products and programs to deliver investor education, and advocate for regulatory policy. It will be funded by a grant from the Investor Protection Trust, a Washington, D.C.-based non-profit devoted to investor protection.
The regulators are now accepting nominations for the foundation’s inaugural board of directors, which will be comprised of at least three directors from NASAA’s membership and up to three outside directors. Half of the nominees will serve three-year terms, and the other half will serve two-year terms.
Nominations are due by July 2. The board is to be named by NASAA’s board by Aug. 4 and will hold its first meeting on Sept. 9.
“We’re looking for leaders who share NASAA’s values and are committed to advancing efforts to support retail investors,” said Leslie Van Buskirk, president of NASAA and Wisconsin’s securities administrator, in a release.
“Serving on the foundation’s board will be a meaningful way to help shape the future of investor protection and education. This work is more important than ever for retail investors as they work to build safe and secure financial futures amid the growing complexity of the financial markets,” she added.