NASAA’s Fleming Named SEC’s First Investor Advocate

Andrea Seidt, NASAA president and Ohio securities commissioner, added in a separate statement that the advocate office "will serve a critical role in ensuring that the SEC focuses on the needs of ordinary investors."  For nearly two decades, she said, "Rick has fought directly on the front lines for investors at the state and national level. Through his work with the Office of the Kansas Securities Commissioner and more recently at NASAA, Rick has demonstrated an unparalleled passion for investor advocacy and commitment to investor protection."

As mandated by Section 915 of Dodd-Frank, the investor advocate helps retail investors resolve significant problems with the SEC or with self-regulatory organizations; identifies areas in which investors would benefit from changes in the SEC regulations or the rules of SROs; analyzes the potential impact on investors of proposed SEC and SRO rules and regulations; and to the extent practicable, propose changes in the regulations or orders of the commission and to congress any legislative, administrative or personnel changes that may be appropriate to mitigate problems and to promote the interests of investors.

Prior to joining NASAA in 2011, Fleming was general counsel for the Office of the Kansas Securities Commissioner. A native of Kansas, Fleming graduated summa cum laude from Washburn University with a bachelor's degree in finance and economics, and is a graduate of Wake Forest School of Law in Winston-Salem, N.C.

—

Check out More Advisor Exams? Not Under This SEC Budget, Advocates Say on ThinkAdvisor.