NASAA Reports On Enforcement Actions In 2015

The North American Securities Administrators Association ("NASAA") issued a report on state regulators enforcement actions in 2015.

NASAA reported that:

• state securities regulators conducted 4,487 investigations and brought 2,074 enforcement actions, which led to (i) the return of over $538 million in restitutions to investors, (ii) fines totaling $230 million, (iii) $18 million in costs recovered by securities regulators, and (iv) $11 million in required payments for investor education;
• most enforcement actions brought by state regulators were administrative or civil, but 253 were criminal in nature;
• 2,990 securities licenses were withdrawn as a result of state actions, and an additional 738 licenses either were denied, revoked, suspended or conditioned;