Connolly honored for securities regulation career



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Mark Connolly, the former director of the New Hampshire Bureau of Securities Regulation who stepped down earlier this year charging a cover-up of the state's handling of the alleged Financial Resources Mortgage Inc. Ponzi scheme, has been awarded the North American Securities Administrators Association Inc.'s Outstanding Service Award.The association -- of which Connolly served as treasurer and a director -- singled out Connolly "for his significant contributions to investor protection throughout New Hampshire and North America."In presenting the award at the organization’s annual conference in Baltimore, Md., the association cited Connolly’s "advocacy of state securities regulation, dedication to investor protection and resolute commitment to seeking improvements by all aspects of the financial services industry to ensure that investors are treated fairly and with respect."He also was cited for being "a champion in the fight against senior investment fraud" by "working tirelessly" to promote legislation that made New Hampshire the first state to adopt laws based on NASAA’s model rule on the use of senior certifications and professional designations.During his eight-year tenure at the Securities Bureau, Connolly oversaw several major securities enforcement cases, including significant actions against Tyco International, Ameriprise, ING, Pennichuck Corp., Morgan Stanley, Merrill Lynch and UBS. The cases resulted in more than $55 million in securities fines and investor restitution.His work in securities enforcement earned him the association's 2007 Enforcement Award. -- JEFF FEINGOLD/NEW HAMPSHIRE BUSINESS REVIEW

 

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