State securities regulators saw a busy 2021, and 2022 looks to continue in much the same fashion. Some of the more active topics for regulators have included protecting senior investors, stopping fraudulent investment schemes targeting individual investors, and battling the ever-present threat of Ponzi schemes. Another big headline for regulators was cryptocurrency companies and the correct approach of those entities from a regulatory framework. Bradley attorney Jeffrey Blackwood recently sat down with Director of the Mississippi Securities Division Mike Huggs to discuss these and other topics.
Q: Looking back on 2021, can you tell me what areas of the securities industry the division spent the most time on?
A: The areas we deal with are registrations of products, licensing of persons, examinations, investigations, and education. We spend about an equal amount of time on examinations and investigations in any given month. However, as of late, investigations have taken a bit more of our time. This is followed by registrations.
Q: Do you anticipate those trends to continue in 2022?
A: Yes. Investigations will continue to take a large part of our time. As baby boomers, born after WWII 1946-1964, are retiring or nearing retirement, they present a target-rich environment for investment sales pitches touting large profits or safety and security for their nest egg. Unscrupulous firms and salespersons capitalize on seniors’ fears of running out of money during…
