Former Top New Hampshire Securities Regulator, Mark Connolly, Available for Securities Consulting

Wednesday, August 14, 2013

For several years now Mark Connolly, former New Hampshire Director of Securities Regulation, has operated a registered investment advisory firm, New Castle Investment Advisors, LLC in Portsmouth, New Hampshire. 

Mark served as Director Securities Regulation from 2002 through 2010, where he led the agency with responsibility for securites regulation in New Hampshire, including enforcement and oversight of a thirty-five million dollar revenue budget; regulatory authority over 50,000 licensed agents and investment advisors and 1200 broker-dealers.  Mark served on the Board of the North American Securities Administrators Association, in several leadership roles at NASAA, and received that organization's Award for Enforcement in 2007.

On Mark's watch, New Hampshire became the first state to legislatively adopt provisions based on NASAA's Model Rule on the Use of Senior Certifications and Professional Designations.  The model rule prohibits the misleading use of senior and retiree designations while also providing a means by which a securities administrator may recognize the use of certain designations conferred by an accredited organization.  The model rule addresses the growing use of financial designations or certifications that ostensibly convey expertise in advising seniors and retirees. The use of a senior designation by salespersons, whether registered or not, confers an impression that the salesperson has special qualifications or specialized education in addressing the needs of senior citizens or retirees, particular areas of finance, financial planning, estate planning, or investing.

Mark left the agency in the wake of the Financial Resources Mortgage ponzi scheme.  He has answered questions about his reasons for resigning as Director in an interview published in the New Hampshire Business Review, and wrote a book, Cover-Up, on the ponzi scheme as he experienced it as a regulator.

His practice at New Castle includes portfolio management as well as expert consulting services for securities-related matters, including supervision, suitability, due diligence, and securities regulatory issues.

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