Securities directors are also called securities administrators and commissioners.
They are hired by state governments to regulate the investing world. This
work is done at securities agencies in each state.
If you purchase stocks, bonds or mutual funds, the securities agency will
protect you. That doesn't mean they'll guarantee that your investment will
make money. But it's their job to make sure that all trade is regulated. They
make sure that you will be protected against fraud and abuse, and that you
can invest in a fair and open market.
Securities agencies offer the public this protection by making sure investors
have access to information about companies. They create fair rules of play
by which companies on the stock market must abide.
They also regulate the industry by setting standards and qualifications
for investment advisors.
Finally, they root out fraudulent companies, impose fines and ban them
from the stock markets. "We investigate complaints and take action against
fraud," says Michael Bernard. He is the manager of communications for a securities
Securities directors work in state government offices. They often have
a large staff of detectives, accountants and corporate analysts working for
You can't just fill out a resume and go for a job interview to be a securities
director or administrator. Most often, this is a government-appointed position.
In a few states, it's an elected position.
"In most cases, securities administrators are appointed by someone who
is appointed by the governor," explains Deborah Bortner. She is a securities
administrator in Washington state.
In general, securities administrators tend to work regular office hours.
"Depending on the area you work in, you could be putting in 40- to 50-hour
weeks," says Bernard. "In other areas, you may put in 35 hours."
Working as a securities director isn't a physically demanding job. People
with physical challenges could find work in this field.
"We have a couple of people on staff with hearing and speech disabilities,"
explains Bernard. "There are possibilities of work in different areas."
Be the stock market watchdog
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