Maryland Securities Commissioner Melanie Senter Lubin will take the reins as the next president of the North American Securities Administrators Association (NASAA), on Sept. 21, the association announced this week.
Lubin will succeed current President Lisa Hopkins, West Virginia’s senior deputy securities commissioner.
In a short statement on her election, Lubin said she was looking forward to “carrying on NASAA’s commitment to protecting Main Street investors.”
Lubin, who’s been Maryland’s securities commissioner since 1998, will be succeeded as president elect by Andrew Hartnett, the deputy administrator for securities in the Iowa Insurance Division’s Securities and Regulated Industries Bureau, who will take over when her term concludes next year.
NASAA’s recent activity included the passage of a new model act in May that would operate as a guide for states to pass their own legislation or regulation to create “restitution assistance funds” to assist victims of securities violations that have not been paid. The model act capped restitution at the lower of either $25,000 or 25% of the unpaid restitution amount. During last year’s NASAA conference, Hopkins said the continuing implementation of Reg BI, oversight of securities violations during the pandemic and the increased investor expansion into private markets would be among the chief areas of focus during her tenure.
“The expansion of private markets without commensurate regulatory tools and transparency is troubling, and a potential breeding ground for fraud,” she said at the time.
NASAA also announced its 2021–2022 board members. The new members of the board include Kentucky Securities Administrator Marni Gibson as well as Diane Young-Spitzer, the acting director at the Massachusetts Securities Division.
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