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To Her Excellency M. Jodi Rell, Governor - page 22 / 25

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2004

2005

2006

2007

2008

5 Year % Change

2,553 113,121 2,389 431

2,617 116,956 2,676 447

2,607 121,269 2,953 429

2,586 129,715 2,787 441

2,566 131,788 2,757 448

.50 16.50 15.40 3.94

1,384 6,380

1,495 7,119

1,650 7,683

1,728 8,687

1,831 9,300

32.29 45.76

Broker-dealer firms Broker-dealer agents Broker-dealer branch offices Investment Adviser firms SEC Registered Investment Advisory Firms Filing Notice* Investment Adviser Agents

  • *

    Investment advisers subject to exclusive Securities and Exchange Commission registration

pursuant to the National Securities Markets Improvement Act of 1996, Public Law 104-290.

Ralph Lambiase, director of the Securities and Business Investments Division, continued his active participation in the North American Securities Administrators Association, Inc. (NASAA). Organized in 1919 and dedicated to investor protection, NASAA is a voluntary association whose membership consists of 67 state, provincial and territorial securities administrators in the 50 states, the District of Columbia, Canada, Mexico, Puerto Rico and the U.S. Virgin Islands. During 2008, Mr. Lambiase served on NASAA’s Broker-dealer Section Committee.

Securities Industry Registrants and Notice Filers As of Year End

Offerings Reviewed

236

272

248

190

174

(26.27)

Investment Company Notice Filings*

7,703

7,459

8,016

8,380

8,597

11.60

Exemptions and Exemptive Noticesg

2,689

3,151

3,371

3,510

3,130

16.40

*Effective October 11, 1996, the National Securities Markets Improvement Act of 1996 (NSMIA), Public Law

104-290, preempted the states from registering securities offerings by investment companies subject to Securities and Exchange Commission oversight. State authority to require notice filings was preserved by the federal legislation.

gNSMIA also preempted the states from substantively reviewing private offerings under Rule 506 of federal Regulation D. State authority to require notice filings was preserved by the federal legislation.

Registrations and Notice Filings Securities and Business Opportunities

2004

2005

2006

2007

2008

5 Year % Change

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