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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 (NJBOS).
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 www.njsecurities.gov.
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