Investment Advisers See Rise In State Enforcement, Jail Time

Law360, New York (October 23, 2012, 10:32 PM EDT) -- The North American Securities Administrators Association said on Tuesday that it has tracked a sizeable uptick in state enforcement proceedings brought against investment adviser companies last year and a steep rise in prison time for those who run afoul of securities law.

The number of enforcement actions involving investment adviser companies almost doubled to 399 in 2011 and accounted for 15 percent of all enforcement proceedings that were taken on by state securities regulators, according to the NASAA’s annual enforcement survey.

Altogether in 2011, state securities...
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