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State laws should provide for criminal penalties against those who commit securities fraud.
Individuals who work for broker-dealers and sell investment products should be required to disclose relevant information and conflicts of interest, regardless of the type of license they hold.
Regulators should work to eliminate fraudulent, deceptive, or unfair practices with respect to investment sales, accounting methods, disclosures, and market structure.
Brokers and other financial professionals who commit fraud currently face civil sanctions. Policymakers should consider adding criminal penalties to this.
Victims of investment fraud should have adequate federal and state statutory remedies, including access to courts for individual or class claims.
State regulators should create a regulatory structure to promote consumer protection. This includes establishing full-time, independent insurance consumer advocate offices.
States should establish strong conflict-of-interest regulations and revolving door limits. Public officials and staff should be independent from the industries they regulate.
States should strengthen regulatory oversight of the safety and soundness of insurance companies. They should ensure that consumer funds are protected in the event of insurance company failure.
States should authorize their insurance commissioners to regulate all insurance companies conducting business in the state.
Policymakers should require fair terms and conditions in insurance to ensure availability and coverage. In particular, age alone should not be used to limit coverage.