New N.J. Bureau of Securities Chief Starts Work Today
NEWARK - Marc B. Minor, who previously enforced securities industry regulations
for the Financial Industry Regulatory Authority (FINRA) and the Philadelphia
Stock Exchange, today began his leadership of the New Jersey Bureau of Securities
Minor, a resident of South Orange, most recently served as Senior Counsel for
FINRA, which is the largest independent regulator for all securities firms
doing business in the United States. As Senior Counsel, Minor managed investigations,
prosecuted disciplinary actions, developed investigative and strategic initiatives
and recommended case dispositions. He also worked on several investigative
task forces, including those focusing on sub-prime lending.
Minor also served as a New York State Assistant Attorney General, investigating
and prosecuting securities fraud, including market timing violations.
“Marc Minor brings a strong record of leading disciplinary actions against individuals and firms that attempted to defraud investors by violating the rules and regulations designed to protect investors,” Attorney General Anne Milgram said. “Scam artists are on notice - there's a new Bureau Chief in town and he has no tolerance for investor frauds and investment scams.”
As Chief of the NJBOS, Minor oversees operation of the Bureau and its 39 employees. The NJBOS regulates (as of Jan. 1, 2009) the operation of 2,576 Broker-Dealer firms, 171,606 Registered Representatives, 2,585 Investment Advisory Firms and 21,870 Investment Adviser Representatives (IAR) that conduct business in New Jersey. All securities offered for sale in the state are required to be registered with the NJBOS as well, unless exempt.
Minor has served as Director & Enforcement Counsel at the Philadelphia Stock Exchange. He also has worked in private and public legal practice in Ohio.
“We are extremely pleased to welcome Marc on board,” said David Szuchman, Consumer Affairs Director. “The Bernard Madoff case and other investment frauds clearly show the need for vigorous oversight of the securities industry and aggressive action against those who seek to enrich themselves through misuse of investor's hard-earned dollars.
“Through his work at FINRA, Marc also has firsthand experience in coordinating the efforts of state and national regulators in protecting investors,” Szuchman noted.
The former Bureau Chief, Vincent J. Oliva, resigned last October for a private-sector job. Amy Kopleton, a 9-year veteran at the NJBOS, has been Acting Bureau Chief and returns to her position as Deputy Bureau Chief.
“I want to thank Amy for her tireless effort in leading the Bureau during the ongoing turmoil in the securities industry,” Szuchman said.
The Bureau of Securities can be contacted toll-free within New Jersey at 1-877-I-INVEST (1-877-446-8378) or from outside New Jersey at 973-504-3600. The Bureau's web site is located at http://www.njsecurities.gov/