NASAA published its 2024 Enforcement Report on October 22, 2024, covering state securities enforcement actions and highlighting continued focus on unregistered advisory activity and emerging investment fraud schemes.
State regulators reported thousands of active investigations and more than 1,100 enforcement actions, with increased activity targeting social media solicitation by unregistered persons and cryptocurrency-related investment fraud.
The report emphasizes that state regulators are increasingly coordinating with federal authorities on complex enforcement matters involving multi-state schemes.
NASAA continues to advocate for strong state-level enforcement authority as a complement to federal regulation, particularly for investor protection in areas not covered by SEC oversight. This report was superseded by the 2025 Enforcement Report released October 16, 2025.