Federal Resources

To advance its agenda, NASAA engages on a nonpartisan basis with Congressional offices and other stakeholders. Learn more about NASAA’s engagement by reviewing our issue briefs, letters to Congress, and statements.

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Letters to Congress

March 10, 2025

NASAA Calls on Congress to Exclude All Interest-Bearing Securities from the Definition of Payment Stablecoin


February 25, 2025

NASAA Urges Lawmakers to Strengthen Not Weaken the Role of Securities Regulators in Capital Formation


September 16, 2024

NASAA Letter to Congress Urging the Use of a Technology-Neutral Approach to Market Regulation


May 21, 2024

NASAA Letter to Congress Urging a No Vote on H.R. 4763, the Financial Innovation and Technology for the 21st Century Act


March 6, 2024

NASAA Letter to Congress Regarding H.R. 2799, the Expanding Access to Capital Act, As Amended


February 1, 2024

NASAA Letter to Congress Regarding the Investor Choice Act of 2024


January 26, 2024

NASAA Letter to Congress Regarding HR 2799 Expanding Access to Capital Act


July 27, 2023

NASAA Letter to Congress Regarding H.R. 4766, Clarity for Payment Stablecoins Act of 2023


July 10, 2023

NASAA Letter to Congress Regarding Amendment 585 to H.R. 2670, the National Defense Authorization Act for Fiscal Year 2024


June 20, 2023

NASAA Urges Congress to Preserve the Existing Securities Regulatory Framework as Congress Considers Digital Assets Market Structure Legislation


June 15, 2023

NASAA Urges Senate Leadership to Promote Trust in Our Capital Markets


May 17, 2023

NASAA Letter to House Leadership Expressing Strong Opposition to H.R. 2799, the Expanding Access to Capital Act, As Amended


April 11, 2023

NASAA Letter to Congress Regarding Our Core Principles and Positions on Various HFSC Discussion Drafts Related to Digital Assets


December 12, 2022

NASAA Letter to Committee Leadership Regarding Opportunities to Strengthen Diversity in Our Capital Markets


December 1, 2022

NASAA Letter to Committee Leadership Regarding Securities Policy Riders


November 30, 2022

NASAA Letter to Committee Leadership Regarding Lessons from the FTX Bankruptcy


September 14, 2022

NASAA Letter to Senate Banking Committee Regarding the July 28, 2022 Hearing Questions for the Record


September 9, 2022

NASAA Letter to the Senate and House Agriculture Committees Regarding the DCCPA


June 10, 2022

NASAA Letter to HFSC Leadership Regarding HR 7977 Promoting Opportunities for Non-Traditional Capital Formation Act


May 9, 2022

NASAA Letter to House Leadership Re HR 5914, the Empowering States to Protect Seniors from Bad Actors Act


April 5, 2022

NASAA Letter to SBC Leadership Re Promoting Trust in Our Capital Markets


March 14, 2022

NASAA Letter to U.S. Senate Committee on Small Business and Entrepreneurship Regarding Franchises


March 8, 2022

NASAA Letter to SBC Leadership Regarding Mandatory Arbitration Agreements in Our Capital Markets


January 28, 2022

NASAA Letter to SBC HFSC Leadership re NASAA’s Core Principles for Evaluating Federal Legislation Relating to Digital Assets


January 25, 2022

NASAA Letter to SBC Leadership Regarding S. 3529, the Empowering States to Protection Seniors from Bad Actors Act


November 15, 2021

NASAA Letter to HFSC Leadership Regarding H.R. 2620, the Investor Choice Act of 2021


November 15, 2021

NASAA Letter to HFSC Leadership Regarding H.R. 5914, the Empowering States to Protect Seniors from Bad Actors Act


October 4, 2021

NASAA Letter to House Committee Financial Services Leadership on Support for Legislative Proposals


July 27, 2021

NASAA Letter to House Financial Services Committee Leadership Regarding Legislative Proposals for Consideration by the Committee on July 28, 2021


June 15, 2021

NASAA Letter Regarding H.R. 1187, the Corporate Governance and Investor Protection Act of 2021


May 17, 2021

NASAA Letter to Rep. Himes Re H.R. 2655, the Insider Trading Prohibition Act of 2021


May 7, 2021

NASAA letter to Sen. Jeff Merkley Re S. 1171, the Investor Choice Act of 2021


April 20, 2021

NASAA Letter to House Financial Services Committee Leadership Regarding Legislation to be Considered at the April 20, 2021 Full Committee Markup


April 19, 2021

NASAA Letter Regarding S.J. Res. 16 – A Joint Resolution Providing for Congressional Disapproval of the Rule Submitted by the SEC Relating to Procedural Requirements and Resubmission Thresholds Under Exchange Act Rule 14a-8


March 22, 2021

NASAA Letter to Senator Reed Regarding Cybersecurity Disclosure Act of 2021


March 19, 2021

NASAA Letter to Senator Sinema and Senator Collins Regarding the Senior Security Act of 2021


March 8, 2021

NASAA Letter to Chair Waters and Ranking Member McHenry Regarding Promoting Transparent Standards for Corporate Insiders Act (H.R. 1528)


March 8, 2021

NASAA Letter to Rep Gottheimer Regarding Senior Security Act of 2021 (HR 1565)


March 1, 2021

NASAA Letter to Senate Banking Committee Regarding the Nomination of Gary Gensler as SEC Chairman


July 29, 2020

NASAA Letter Regarding the Financial Services and General Government Appropriations Act (H.R. 7668)


June 25, 2020

NASAA Letter to Senate in Support of The Investor Choice Act of 2019 (S.2992)


June 25, 2020

NASAA Letter in Support of the Edith Shorougian Senior Victims of Fraud Compensation Act of 2020 (S.3487)


October 16, 2019

NASAA Letter to House Financial Services Committee Regarding The Empowering States to Protect Seniors from Bad Actors Act (Discussion Draft)


September 17, 2019

NASAA Letter to House Financial Services Committee Leadership Regarding The Investor Protection and Capital Market Fairness Act of 2019


July 11, 2019

NASAA Letter to Rep. Porter Regarding H.R. 3641, the “Stronger Enforcement of Civil Penalties Act of 2019”


June 18, 2019

NASAA Letter to House Investor Protection Subcommittee Leadership Regarding Legislative Proposals for June 19, 2019 Subcommittee Hearing


June 18, 2019

NASAA Letter in Support of The Cybersecurity Disclosure Act of 2019 (S. 592)


June 5, 2019

NASAA Letter to Sen. Kyrsten Sinema Regarding S. 1719, the “Senior Security Act of 2019”


April 26, 2019

NASAA Letter to Rep. Josh Gottheimer Regarding H.R. 1876, the “Senior Security Act of 2019”


March 28, 2019

NASAA Letter in Support of The Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2019 (H.R. 609)


March 27, 2019

NASAA Letter to Senate Banking Committee Leadership Regarding Legislative Proposals Considered During February 28, 2019 Hearing


January 24, 2019

NASAA Letter to House Financial Services Committee Leadership Regarding H.R. 624, the “Promoting Transparent Standards for Corporate Insiders Act”


November 19, 2018

NASAA Letter to House Financial Services Committee Leadership Regarding H.R. 6127, the “Unlocking Capital for Small Businesses Act of 2018”


August 21, 2018

NASAA Letter to Senate Banking Committee Leadership Regarding “The JOBS and Investor Confidence Act (S. 488)


June 28, 2018

NASAA Letter to Senate Banking Committee Leadership on Legislation Considered by the Committee on June 26, 2018 and June 28, 2018


June 7, 2018

NASAA Letter to Congress on “The Main Street Growth Act of 2018” (H.R. 5877)


April 6, 2018

NASAA Letter to Congress Opposing “The Securities Fraud Act of 2018” (H.R. 5037)


March 9, 2018

NASAA Letter In Support of The Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017 (H.R. 477, as amended)


February 14, 2018

NASAA Letter to House Leadership Regarding “The TRID Improvement Act” (H.R. 3978)


January 31, 2018

NASAA Letter to Sen. Jack Reed Regarding the Cybersecurity Disclosure Act of 2017 (S.536)


January 16, 2018

NASAA Letter to House Financial Services Committee Leadership Regarding H.R. 4738, the “Mutual Fund Litigation Reform Act”


December 11, 2017

NASAA Letter to House Financial Services Committee Leadership Regarding H.R. 4546, the “National Securities Exchange Regulatory Parity Act of 2017”


December 5, 2017

NASAA Letter to Senate Committee on Banking, Housing and Urban Affairs Regarding Section 212 of S. 2155 (National Securities Exchange Parity)


November 7, 2017

NASAA Letter to House of Representatives Leadership Regarding The Micro Offering Safe Harbor Act (H.R. 2201)


November 1, 2017

NASAA Letter to House of Representatives Leadership Regarding The Fair Investment Opportunities for Professional Experts Act (H.R. 1585)


October 11, 2017

NASAA Letter of Support for the Senior Safe Act of 2017 (H.R. 3758)


October 11, 2017

NASAA Letter to House Financial Services Committee Chair and Ranking Member Regarding Markup of H.R. 3758, H.R. 477, H.R. 3857, H.R. 2201, and H.R. 1585


August 31, 2017

NASAA Letter of Support for the National White Collar Crime Control Act of 2017


May 2, 2017

NASAA Letter of Support For Capuano Amendment to Financial CHOICE Act of 2017 (Sec. 391)


April 14, 2017

NASAA Letter Regarding Senate Banking Committee Request for Legislative Proposals to Increase Economic Growth


March 7, 2017

NASAA Letter to Sen. Elizabeth Warren Regarding Amendment to S. 327, the Fair Access to Investment Research Act of 2017


January 30, 2017

NASAA Letter to Rep. Keith Ellison Supporting H.R. 585, the Investor Choice Act of 2017


January 24, 2017

NASAA Letter to Sen. Susan Collins Supporting S. 223, the Senior$afe Act of 2017


Statements

December 12, 2024

Prepared Remarks of Stephen Brey for the SEC Investor Advisory Committee Panel on Mandatory Arbitration

Written Statement of Stephen Brey, Staff Attorney for the State of Michigan Corporations, Securities, and Commercial Licensing Bureau, Vice Chair of the NASAA Investment Adviser Section Committee, and Co-Chair of the NASAA Investment Adviser Section Regulatory Policy and Review Project Group, at the December 10, 2024, U.S. Securities and Exchange Commission Investor Advisory Committee Panel “Examining the Use of Mandatory Arbitration Clauses by Registered Investment Advisers”


March 11, 2024

Written Statement of Leslie Van Buskirk on the “Draft Recommendation of the SEC Investor Advisory Committee’s Disclosure Subcommittee Regarding Digital Engagement Practices”

Prepared statement of NASAA President-Elect Leslie Van Buskirk, Administrator of the Division of Securities at the Wisconsin Department of Financial Institutions, on the Draft Recommendation of the U.S. Securities Exchange Commission (SEC) Investor Advisory Committee's Disclosure Subcommittee Regarding Digital Engagement Practices (DEPs) at the March 7, 2024 SEC Investor Advisory Committee's quarterly meeting.


September 21, 2023

2023 U.S. Securities and Exchange Commission Investor Advisory Committee Panel Discussion Regarding Exempt Offerings under Regulation D, Rule 506

Written Statement of Amanda Senn, Director, Alabama Securities Commission, and Co-Chair of the Enforcement Section of the North American Securities Administrators Association, at the September 21, 2023 U.S. Securities and Exchange Commission Investor Advisory Committee “Panel Discussion Regarding Exempt Offerings under Regulation D, Rule 506”


June 13, 2023

Preserve the Existing Securities Regulatory Framework as Congress Considers Digital Assets Market Structure Legislation

Letter from NASAA Executive Director Joseph Brady entered into the record on behalf of NASAA for a hearing before the U.S. House Committee on Financial Services on digital assets.


April 17, 2023

A Roadmap for Growth: Reforms to Encourage Capital Formation and Investment Opportunities for All Americans

Written testimony of Melanie Senter Lubin, Commissioner, Maryland Securities Division Office of the Maryland Attorney General and 2022-2023 NASAA Past-President, before the House Financial Services Committee Subcommittee on Capital Markets Regarding A Roadmap for Growth: Reforms to Encourage Capital Formation and Investment Opportunities for All Americans on April 19, 2023.


March 2, 2023

Prepared Remarks of Faith Anderson for the SEC Investor Advisory Committee Regarding the Growth of Private Markets

Written Statement of Faith Anderson, Chief of Registration and Regulatory Affairs in the Securities Division of the Washington Department of Financial Institutions and Chair of the Small Business/Limited Offerings Project Group of the North American Securities Administrators Association (NASAA), at the March 2, 2023 U.S. Securities and Exchange Commission Investor Advisory Committee “Panel Discussion Examining the Growth of Private Markets Relative to the Public Markets: Drivers and Implications”


March 2, 2023

Prepared Remarks of Stephen Brey for the SEC Investor Advisory Committee Regarding the Registered Investment Adviser Regulatory Framework

Written Statement of Stephen Brey, Staff Attorney for the State of Michigan Corporations, Securities, and Commercial Licensing Bureau and Co-Chair of the NASAA Investment Adviser Section Regulatory Policy and Review Project Group, at the March 2, 2023 U.S. Securities and Exchange Commission Investor Advisory Committee “Panel Discussion Regarding the Registered Investment Adviser Regulatory Framework”


February 7, 2023

NASAA Report and Recommendations on Reinvigorating Our Capital Markets


December 13, 2022

Opportunities to Strengthen Diversity in Our Capital Markets

Letter from NASAA Executive Director Joseph Brady entered into the record on behalf of NASAA for a hearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment on supporting diverse entrepreneurs and investors.


August 2, 2022

Prepared Remarks of Andrea Seidt for the SEC SBCFAC Regarding Secondary Market Liquidity

Prepared Remarks of Andrea Seidt, NASAA Representative and Ohio Securities Commissioner, for the SEC Small Business Capital Formation Advisory Committee Regarding Secondary Market Liquidity for Investors in Regulation A and Regulation Crowdfunding Companies and for Smaller Public Companies, at the August 2, 2022 meeting of the SEC Small Business Capital Formation Advisory Committee


July 28, 2022

Protecting Investors and Savers: Understanding Scams and Risks in Crypto and Securities Markets

Written Testimony of NASAA President and Maryland Securities Commissioner Melanie Senter Lubin delivered to the U.S. Senate Committee on Banking, Housing, and Urban Affairs on July 28, 2022.


April 5, 2022

Promoting Trust in Our Capital Markets

Letter from NASAA President and Maryland Securities Commissioner Melanie Senter Lubin sent on April 5, 2022, and entered into the record on behalf of NASAA for a hearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs on insider trading.


March 14, 2022

NASAA’s Core Principles for Evaluating Federal Legislation Relating to Franchises

Letter from NASAA President and Maryland Securities Commissioner Melanie Senter Lubin sent on March 14, 2022, and entered into the record on behalf of NASAA for a hearing before the U.S. Senate Committee on Small Business and Entrepreneurship on the franchising industry.


March 8, 2022

NASAA Letter to SBC Leadership Regarding Mandatory Arbitration Agreements in Our Capital Markets

Letter from NASAA President and Maryland Securities Commissioner Melanie Senter Lubin sent on March 8, 2022 and entered into the record on behalf of NASAA for a hearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs on the use of mandatory arbitration agreements in the sale of financial services and products.


December 2, 2021

The SEC’s Potential Role in Addressing Elder Financial Abuse Issues

Written statement of Kristen Standifer, Licensing and Examinations Supervisor for the Washington State Department of Financial Institutions and Chair of the NASAA Senior Issues and Diminished Capacity Committee, delivered on behalf of NASAA at a December 2, 2021, panel discussion convened by the U.S. Securities and Exchange Commission Investor Advisory Committee to examine the SEC’s Potential Role in Addressing Elder Financial Abuse Issues.


September 10, 2020

The Need for Financial Aid to America’s States and Territories During the Pandemic

Written Statement of NASAA President and West Virginia Senior Deputy Securities Commissioner Lisa Hopkins submitted for a September 10, 2020 hearing before the U.S. House Committee on Financial Services.


September 3, 2020

Improving Investment Advice for Workers and Retirees

Written Testimony of Andrea Seidt, Ohio Securities Commissioner and chair of NASAA's Regulation Best Interest Implementation Committee, delivered on behalf of NASAA at a hearing convened by the U.S. Department of Labor's Employee Benefits Security Administration.


June 16, 2020

Cybercriminals and Fraudsters: How Bad Actors Are Exploiting the Financial System During the COVID-19 Pandemic

Written Testimony of Amanda Senn, Alabama Securities Commission Chief Deputy Director and NASAA Cybersecurity Committee Chair, delivered on behalf of NASAA at a hearing convened by the House Subcommittee on National Security, International Development and Monetary Policy to examine how cybercriminals and fraudsters are exploiting the financial system during the COVID-19 pandemic.


May 26, 2020

Examining the Impacts of the COVID-19 Pandemic on U.S. Capital Markets

Statement of NASAA President Christopher W. Gerold, delivered during a roundtable convened on May 26, 2020 by the House Subcommittee on Investor Protection, Entrepreneurship and Capital Markets to examine the impacts of the COVID-19 pandemic on U.S. capital markets.


September 11, 2019

Examining Private Market Exemptions as a Barrier to IPOs and Retail Investment

Testimony of NASAA Immediate Past President and Vermont Financial Regulation Commissioner Michael S. Pieciak at a September 11, 2019 hearing before the House Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets.


April 3, 2019

Putting Investors First: Reviewing Proposals to Hold Executives Accountable

Testimony of NASAA Board member and Maryland Securities Commissioner Melanie Senter Lubin at an April 3, 2019 hearing before the House Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets.


March 14, 2019

“Putting Investors First? Examining the SEC’s Best Interest Rule”

Written Statement of Michael S. Pieciak NASAA President and Commissioner of the Vermont Department of Financial Regulation to the U.S. House of Representatives Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets.


June 13, 2018

“Ensuring Effectiveness, Fairness, and Transparency in Securities Law Enforcement”

Testimony of Joseph P. Borg, President, North American Securities Administrators Association and Director, Alabama Securities Commission, at a June 13, 2018 hearing before the U.S. House Committee on Financial Services Subcommittee on Capital Markets, Securities, and Investment


April 28, 2017

A Legislative Proposal to Create Hope and Opportunity for Investors, Consumers, and Entrepreneurs

Written Testimony of Maryland Securities Commissioner Melanie Senter Lubin submitted for an April 28, 2017 hearing before the U.S. House Committee on Financial Services.


April 26, 2017

A Legislative Proposal to Create Hope and Opportunity for Investors, Consumers, and Entrepreneurs

Written Statement of NASAA President and Minnesota Commissioner of Commerce Mike Rothman submitted for an April 26, 2017 hearing before the U.S. House Committee on Financial Services.


March 22, 2017

The JOBS Act at Five: Examining Its Impact and Ensuring the Competitiveness of the U.S. Capital Markets

Written Statement of NASAA President and Minnesota Commissioner of Commerce Mike Rothman submitted for a March 22, 2017 hearing before the U.S. House Committee on Financial Services Subcommittee on Capital Markets, Securities and Investment.






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