WASHINGTON (Legal Newsline) — The Securities and Exchange
Commission (SEC) announced Feb. 17 that it had signed an information-sharing
agreement with the North American Securities Administrators Association (NASAA).
The agreement was signed by SEC acting chairman Michael S.
Piwowar and Mike Rothman, Minnesota commissioner of commerce and president of
NASAA, which represents state securities administrators.
“The agreement not only builds on an
already productive relationship between the SEC and state regulators, it also
offers additional insights and protections as we help companies grow and create
jobs while providing new opportunities to investors,” Piwowar said.
The agreement will help in the sharing of information to
assess whether new rules about intrastate crowdfunding offerings are serving
their intended purposes. The agreement between the two organizations will allow
federal and state forces to work together on the issue and safeguard against
“This agreement will strengthen
collaboration among state and federal securities regulators to help expand
small-business investment opportunities while also protecting investors,” Rothman said. “Ongoing dialogue is essential to carry out our
responsibilities going forward. With this MOU in place, we have an opportunity
to share information that will bolster our efforts to support small business
capital formation and prevent fraud."