WASHINGTON, D.C. (January 19, 2021) – The following is a statement from Lisa A. Hopkins, President of the North American Securities Administrators Association (NASAA) and West Virginia Senior Deputy Securities Commissioner, on the announcement by President-elect Biden that he intends to nominate Gary Gensler to lead the U.S. Securities and Exchange Commission. Gensler served as chair of the U.S. Commodity Futures Trading Commission (CFTC) from 2009 to 2014.

“The nomination of an experienced former regulator with the accomplished track record of Gary Gensler to lead the SEC signals that the Biden Administration expects the agency to hold those who harm investors accountable for their wrongdoing and to pursue a regulatory agenda that prioritizes investor protection and is supported by vigorous examination and enforcement efforts. State securities regulators across the country look forward to continued cooperation with our federal counterparts as we work to carry out our shared mission to protect investors and ensure the integrity of the financial markets.”

NASAA, the oldest international organization devoted to investor protection. NASAA’s membership consists of the securities administrators in the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, the provinces and territories of Canada, and Mexico.