About the Securities Division

Mission Statement

The mission statement of the Securities Division is "To protect the investing public and promote confidence in the capital markets."

This mission is accomplished through a variety of regulatory and enforcement tools, including:

• Reviewing securities, franchises, and business opportunity offerings
  
  
• Licensing and examining Broker/Dealers, Investment Advisers, and their representatives
  
  
• Providing technical assistance to small business
  
  
• Responding to customer complaints, investigating and bringing appropriate administrative, civil and criminal cases and
  
  
• Providing information and investor education.

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Management of the Division

Management and policy-making power of the Division is vested in the Director of the Department of Financial Institutions and the Director of Securities. The Department and Division Director are responsible for the administration of the laws, regulations, and policies currently in force. The Director of Securities exercises general supervisory control over the employees of the Division including program managers, financial legal examiners, financial examiners, investigators, and administrative staff.

The current Division Director and program managers are:

• Michael Stevenson - Director of Securities
  
  
• Martin Cordell - Enforcement Program Manager
  
  
• Suzanne Sarason - Compliance & Examination Program Manager
  
  
• William Beatty - Registration & Licensing Program Manager

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Funding of Securities Division Activities

The Division is a revenue-generating, self supporting division of state government with none of its operating expenditures funded by general tax funds.  Revenue is obtained solely from its primary functions of registration, licensing, examination, and enforcement.  The Division is allotted 13% of the total funds it generates. The remaining 87% of the funds generated become a part of the General Fund and are used to fund other portions of state government.

For further information, see the DFI Annual Report.

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Securities Advisory Committee

The Securities Advisory Committee exists in accordance with RCW 21.20.550. Members of the Committee are appointed by the Governor on the basis of experience, qualification, geographical representation, and representation of all aspects of the securities business. The Committee meets quarterly with members of the Securities Division to review legislative and rule proposals, as well as new and existing programs. The Committee encourages your comments by phone, letter, fax, or e-mail.