Joseph P. Borg (born 1951) is an American financial regulator who has served as the Securities Commissioner of Alabama since 1994. In this position, he is responsible for prosecuting

financial crimes Finance refers to monetary resources and to the study and discipline of money, currency, assets and liabilities. As a subject of study, is a field of Business Administration wich study the planning, organizing, leading, and controlling of an ...

which affect Alabama residents. He has also served as the president of the

North American Securities Administrators Association The North American Securities Administrators Association (NASAA), founded in Kansas in 1919, is the oldest international investor protection organization. NASAA is an association of state securities administrators who are charged with the respo ...

for two terms. He was described in a 2002 ''

Forbes ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...

'' article as "Wall Street's Worst Nightmare". Smart Money magazine listed Borg in its listing of "The Power 30- The Top Financial Players" citing his 98% conviction rate and calling him "one of the toughest 'stock cops' in America" mart Money November, 2011

Early life

Borg was born in

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

to Maltese immigrants Philip J. Borg and Dorothy Borg (). He attended

Hofstra University School of Law The Maurice A. Deane School of Law at Hofstra University – also known as Hofstra Law School and colloquially as Hofstra Law – is a law school located in Hempstead, on Long Island, in New York, United States. It is affiliated with Hofstra U ...

and then worked as a personal injury lawyer. He moved from

Queens Queens is the largest by area of the Boroughs of New York City, five boroughs of New York City, coextensive with Queens County, in the U.S. state of New York (state), New York. Located near the western end of Long Island, it is bordered by the ...

Montgomery, Alabama Montgomery is the List of capitals in the United States, capital city of the U.S. state of Alabama. Named for Continental Army major general Richard Montgomery, it stands beside the Alabama River on the Gulf Coastal Plain. The population was 2 ...

to work as a defense lawyer in product–liability cases. Borg soon made partner in a Montgomery law firm and later worked as a corporate lawyer for First Alabama Bank.

Securities regulation

Borg represented the victim of a microcap fraud case in 1993. Borg was first elected as the president of the North American Securities Administrators Association for the 2001–02 term. The NASAA is a nonprofit organization which represents regulators from across North America. He also served in this role for the 2006–07 term and now serves on their

board of directors A board of directors is a governing body that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulatio ...

Political views

Borg has been critical of the U.S. Securities and Exchange Commission and the

Financial Industry Regulatory Authority The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets. FINRA is the successor to the National Associati ...

for not imposing tougher sanctions on financial criminals. He has also argued that financial regulatory power in the U.S. should not be concentrated in one agency. Rather, he proposes that regulatory agencies across the country should attempt to work together more effectively.

References

External links

Alabama Securities Commission
{{DEFAULTSORT:Borg, Joseph 1951 births American people of Maltese descent finance fraud financial regulation in the United States lawyers from Montgomery, Alabama living people Maurice A. Deane School of Law alumni people from Queens, New York