NASAA published its annual enforcement report covering state securities enforcement actions, highlighting continued focus on unregistered advisory activity and emerging investment fraud schemes.
State regulators reported increased enforcement 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.