Introduction of the NASAA Model Whistleblower Award and Protection Act

Recorded On: 11/05/2020

On August 31, 2020, NASAA members voted to adopt a Model Whistleblower Award and Protection Act, to provide monetary incentives and protections against retaliation for whistleblowers who report securities law violations.  We cordially invite you to join members of NASAA’s State Legislation Committee for a briefing to learn more about the Model Act.

Speakers will include:

  • Lynne Egan, Deputy Securities Commissioner in Montana and Chair of the NASAA State Legislation Committee
  • Faith Anderson, Chief of Registration & Regulatory Affairs of the Securities Division in Washington and Chair of the NASAA Whistleblower Working Group
  • Alex Glass, Indiana Securities Commissioner
  • Jason Sterzer, Acting Director of the Securities Division in Utah

Lynne Egan

Deputy Securities Commissioner

Montana Securities Department


Lynne Egan is the Deputy Securities Commissioner for the Montana Commissioner of Securities and Insurance (CSI).   Lynne earned an accounting degree from Carroll College, passed the uniform CPA exam, and prior to joining the CSI worked as an income tax auditor.  Lynne also worked at D. A. Davidson & Co., a mid-size regional broker-dealer firm, from 1980-1990. Lynne is currently the Chairperson for the NASAA Investor Education Section, the NASAA State Legislation Committee, and has served as the Chairperson for the NASAA Committee on Senior Issues and Diminished Capacity.  Lynne is also a trustee for the Investor Protection Trust.  Lynne has extensive training in broker-dealer and investment adviser regulation, is an expert in capital formation regulation, has extensive experience in the securities industry, and has testified as a damages and liability expert witness in dozens of securities cases.  Lynne has also testified before a Congressional committee on the topics of investor protection and empowering people to make informed investment decisions.

Faith Anderson

Washington Department of Financial Institutions

Faith Anderson is the Chief of Registration of the Securities Division of the Washington State Department of Financial Institutions.  She supervises legal staff responsible for reviewing applications for registration in small public offerings, non-traded REITs, BDCs, oil and gas programs, bank holding companies, in-state municipal bond offerings, church bond offerings, rescission offers, business opportunity offerings, and franchise offerings.  She oversees the processing of exemption filings and is experienced with investment advisers and pooled investment vehicles.  She is also responsible for reviewing requests for interpretive and no-action letters, promulgating policy and interpretive statements, amending the Division’s administrative rules, and reviewing and drafting legislation. Ms. Anderson chairs the Small Business/Limited Offerings Project Group of the North American Securities Administrators Association, Inc. (NASAA) and is a member of NASAA’s Electronic Form D Filing Committee.  She has served as primary drafter on several NASAA comment letters on SEC rule proposals, has led NASAA’s project to create a coordinated multi-state review program for Reg. A+ offerings, and continues to provide input on the development of a nationwide electronic filing system for state securities filings.  Ms. Anderson is a frequent speaker on topics including private offerings, small public offerings, and crowdfunding. Ms. Anderson is a member of both the Securities Committee of the Business Law Section of the Washington State Bar Association and the American Bar Association’s State Regulation of Securities Committee. While in law school, Ms. Anderson served as an editor on the Pacific Rim Law & Policy Journal and completed an externship with Justice Barbara A. Madsen of the Washington State Supreme Court. 

Alex Glass

Indiana Secretary of State

Jason Sterzer

Acting Director, Utah Securities Division

Key:

Complete
Failed
Available
Locked
Introduction of the NASAA Model Whistleblower Award and Protection Act
11/05/2020 at 1:30 PM (EST)   |  60 minutes
11/05/2020 at 1:30 PM (EST)   |  60 minutes