what is the north american securities administrators association nasaa 
the north american securities administrators association nasaa is an organization of securities regulators whose aim is to protect investors from fraud founded in 1919 in the u s state of kansas its membership of 67 securities administrators from across north america works to protect customers of investment advice or securities as part of a complementary regulatory system that works at the federal state provincial and industry levels understanding the north american securities administrators association nasaa nasaa seeks to help investors identify and avoid fraud by educating the public investigating violations of state and provincial law and filing enforcement actions its membership is made up of regulators that may be appointed hired for career focused positions or are under the jurisdiction of their states attorneys general these regulators are responsible for licensing securities firms and investment professionals such as broker dealers and investment advisers registering certain securities offerings reviewing financial offerings of small companies auditing branch office sales practices and record keeping promoting investor education and most importantly enforcing state securities laws 1 in addition to protecting investors some state regulators may help small businesses raise money and stay in compliance with securities laws some regulators may work in a department that also regulates insurance or banking 1 nasaa s membership is made up of securities regulators from all 50 u s states the district of columbia puerto rico the u s virgin islands canada and mexico 2 nasaa s website features a variety of investor and professional resources including a fraud center that lists top investor traps a fraud awareness quiz fraud red flags how to contact a local securities regulator and how to investigate a broker or investment adviser special considerationsnasaa members work within the government to protect investors and ensure the integrity of the securities industry in the following ways nasaa also administers the series 63 series 65 and series 66 regulatory examinations which licenses financial professionals to function as an agent in most states the series 63 is a requirement for all registered securities agents 3