Joseph P. Borg (born 1951) is an American financial regulator who has been a Commissioner of Alabama Securities since 1994. In this position, he is responsible for prosecuting financial crimes affecting Alabama residents. He also served as president of the North American Securities Administrators Association for two periods. He is portrayed in the 2002 Forbes article as "Wall Street's Worst Nightmare". Smart Money magazine listed Borg on "The Power 30-The Top Financial Players" list cited 98% confidence and called him "one of the heaviest stock police" in America "[Smart Money November, 2011]
Video Joseph Borg (regulator)
Kehidupan awal
Borg was born in New York City to Malta immigrants Philip J. Borg and Dorothy Borg (nÃÆ' Â © e Chircop). He attended Hofstra University School of Law and later worked as a personal injury lawyer. He moved from Queens to Montgomery, Alabama to work as a defense attorney in the case of product responsibility. Borg soon became a partner at the Montgomery law firm and later worked as a corporate attorney for First Alabama Bank.
Maps Joseph Borg (regulator)
Securities rules
Borg represented the victims of a microcap fraud case in 1993. In 1994 Borg was appointed as Commissioner of Alabama Securities. He currently oversees about fifty employees. In Alabama, the office of the Securities Commissioner is a non-partisan post, and consequently Borg has served under five Governors of Alabama. Under Borg's administration, the Alabama Securities Commission has a successful ninety-five percent confidence level. He primarily prosecutes ponzi schemes, unregistered brokers, and penny stock traders, demanding every case where Alabama residents are directly affected, regardless of where the violating company is located.
Borg claims that Allen Stanford avoids selling fake deposit certificates in Alabama for fear of being caught.
Borg was first elected president of the North American Securities Administrators Association for the 2001-02 period. NASAA is a nonprofit organization that represents regulators from across North America. He has also served in this role for the 2006-07 term and is now serving on their board of directors.
Political view
Borg has been critical of the US Securities and Exchange Commission and the Financial Industry Regulatory Authority for not imposing tougher sanctions on financial criminals. He also argues that the power of financial arrangements in the US should not be concentrated in one agency. Instead, he proposed that regulators across the country should seek to cooperate more effectively.
References
External links
- Alabama Securities Commission
Source of the article : Wikipedia
0 Comments