,h4 ,,res4 #def  ,in the ,house of      
,representatives1 ,u4 ,s41  ,july #i1   
#bjai  ,,resolution  ,whereas ,state    
securities regulators are the original  
pioneers of regulating the ,united      
,states capital markets and have        
protected investors during times of boom
 and bust1 from ticker tape to the      
block-chain2 ,whereas ,state securities 
regulators founded the ,north ,american 
,securities ,administrators ,association
 7,,nasaa7 as a voluntary association in
 #aiai1 #h years after the first        
securities laws were enacted in ,kansas 
in #aiaa2 ,whereas ,,nasaa's membership 
in #bjai includes securities            
administrators in the #ej ,states1 the  
,district of ,columbia1 ,puerto ,rico1  
the ,united ,states ,virgin ,islands1   
,canada1 and ,mexico2 ,whereas the      
fundamental mission of the ,state       
securities regulators is protecting     
investors who transact in securities and
 receive investment advice1 and their   
jurisdiction extends to a wide variety  

of issuers and intermediaries who offer 
and sell securities to the public2      
,whereas ,state securities regulators   
are leaders in civil and administrative 
enforcement actions1 as well as criminal
 prosecutions of securities violators2  
,whereas ,state securities regulators   
have led efforts resulting in landmark  
settlements to stop unfair practices in 
the securities industry1 the return of  
billions of dollars to harmed investors1
 and thousands of bad actors sitting in 
jail as the result of their work in     
investigating and uncovering fraud2     
,whereas ,state securities regulators   
independently and within the framework  
of ,,nasaa have also devised innovative 
ways for small companies to raise       
investment capital2 ,whereas ,state     
securities regulators independently and 
within the framework of ,,nasaa conduct 
investor education programs throughout  
the ,united ,states1 providing important
 information to main street ,americans  
on investing for a secure future and    

avoiding scams2 and ,whereas ,state     
securities regulators are known for     
their accessibility and accountability  
to the investing public and have been   
willing to push the envelope when it    
comes to protecting investors3 ,now1    
therefore1 be it ,that the ,house of    
,representatives--  7#a7 emphasizes the 
longstanding role of ,state securities  
regulators in maintaining investor      
protection and vibrant capital markets  
in the ,united ,states2  7#b7 supports  
the efforts of ,state securities        
regulators to educate investors         
throughout the ,united ,states2  7#c7   
supports the efforts of ,state          
securities regulators to promote        
responsible and efficient capital       
formation for the benefit of small      
businesses and investors throughout the 
,united ,states2  7#d7 urges ,state     
securities regulators to continue       
working independently and within the    
voluntary framework of ,,nasaa to       
protect and educate investors and       

promote capital formation2 and  7#e7    
urges the ,securities and ,exchange     
,commission to maintain and expand      
voluntary collaboration with ,state     
securities regulators in the interest of
 the investing public4  ,clerk4