Principal Committee objectives are: monitor and comment on changes in state regulatory policy, including proposed rules, regulations and policy statements of individual state regulators, uniform policies and guidelines proposed by the North American Securities Administrators Association (NASAA), and rules proposed by FINRA; respond to and comment on SEC proposals that impact state securities regulation, working with the Federal Regulation of Securities and Middle Market and Small Business Committees, and other Section Committees and Task Forces, as appropriate; disseminate timely information to Committee members on changes in state securities laws, Canadian provincial securities laws, and federal securities laws to the extent they impact state law, and developments in civil, criminal and administrative enforcement proceedings under state securities laws. The enactment of the National Securities Markets Improvement Act of 1996, which preempted and modified some aspects of state securities regulation, has increased areas of interaction between federal and state securities law, and has led to major changes in state laws, rules and policies relating to "covered securities" as defined in that Act, which the Committee has actively monitored.
