North American Securities Administrators Association ("NASAA") President Christopher Gerold will focus on compliance enforcement, private placements of securities and Regulation Best Interest ("Reg. BI") during his term.

At NASAA's annual meeting, the newly elected president said that NASAA would be engaged in the SEC's regulatory initiative on securities offering exemptions. He called for a comprehensive review citing private placements as a "top investor trap[]." He also stated that markets need "cohesive policies" to facilitate investor protection and capital formation without hurting the investor.

Mr. Gerold also advocated for greater collaboration between regulators and financial professionals to safeguard the investments of seniors. He also stated that more than $62 billion has been returned to investors as a result of multijurisdictional coordination through NASAA.

Mr. Gerold stated that NASAA will continue to support its members with issues of interpretation and implementation of Reg. BI. He said that NASAA will track the progress Reg. BI makes in "delivering on [the] promise" of better protecting investors.

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