New Leader at NASAA
September 25, 2019 by Melanie Waddell
New Jersey Bureau of Securities Chief Christopher Gerold, who helped craft the state’s fiduciary rule, became president in mid-September of the North American Securities Administrators Association.
Gerold, who will serve a one-year term as NASAA’s president, assumes his new role as the Securities and Exchange Commission’s Regulation Best Interest comes under legal attack. Two separate lawsuits were filed in the Southern District of New York in mid-September by seven states and the District of Columbia as well as XY Planning Network (See Washington Watch, page 12).
NASAA stated that it plans to follow the states’ attorneys general challenge to Reg BI “closely.” While it is not a party to the litigation it “supports members’ rights to protect their investors,” the association of state securities administrators said.