April 5, 1991
TO: STATE LIAISON COMMITTEE NO. 11-91
UNIT INVESTMENT TRUST COMMITTEE NO. 13-91
INVESTMENT ADVISERS COMMITTEE NO. 14-91
CONTRACTUAL PLANS COMMITTEE NO. 5-91
RE: NASAA UPDATE
__________________________________________________________
During the past several months, several personnel changes
have occurred in NASAA which may be of interest to you. They are
as follows:
1. Doug Mays (Kansas) - Mr. Mays was asked to resign
as Commissioner of the Kansas Securities
Commission, and therefore, had to step down as
President of NASAA. Mr. Mays is currently a
consultant for several of the Institute's
contractual plan sponsor members.
2. John Perkins (Missouri) - Mr. Perkins replaced Mays
as President of NASAA and will serve the remainder
of Mays' term and his own one-year term.
3. Lewis Brothers (Virginia) - Mr. Brothers has been
nominated as the new president-elect of NASAA and
will assume that position in 1992.
4. Susan Bryant (Oklahoma) - Ms. Bryant was the former
president of NASAA (1989) and has recently accepted
a position with First Investors Corporation as
general counsel, beginning May 1, and will be
leaving the Oklahoma Securities Commission.
The Institute has been informed that the NASAA Investment
Company Registration/Trading Practices Committee's projects this
year include reviewing the adequacy of disclosure in a mutual
fund prospectus, sales practices, contractual plans, the use of
the terms "guaranteed" and "insured, and state sales literature
filing requirements.
We will keep you advised of further developments.
Patricia Louie
Assistant General Counsel