Founded in 1993 as part of a multi-state settlement to resolve charges of misconduct, the Investor Protection Trust serves as an independent source of non-commercial investor education. Since 1993 the IPT has worked with the States and at the national level to provide the independent, objective investor education needed by all Americans to make informed investment decisions.
In April 2003, the North American Securities Administrators Association (NASAA), the U.S. Securities and Exchange Commission, FINRA, and the New York Stock Exchange announced the settlement of enforcement actions involving conflicts of interest between the research and investment banking operations of 10 of the nation’s largest investment firms. Seven of the firms agreed to pay a total of $80 million for investor education purposes. Of that amount, $30 million was paid to State Securities Regulators and those funds comprise the Investor Education Fund overseen by the IPT. Additional State settlements continue to be deposited with IPT.
IPT operates programs under its own auspices and uses grants to underwrite important investor education and protection initiatives carried out by other organizations.
IPT functions under the direction of a Board of Trustees which is composed of State Securities Regulators or their designees. Current IPT Trustees are:
Director of the Securities Division
Kentucky Department of Financial Institutions
Deputy Securities Commissioner
Montana Office of the State Auditor
Irving L. Faught
Oklahoma Securities Commission
Craig A. Goettsch
Director of Investor Education and Consumer Outreach/Securities Counsel
Iowa Insurance Division
Theodore A. Miles
Associate Commissioner, Securities
District of Columbia Department of Insurance, Securities and Banking
IPT President and CEO
Don M. Blandin was appointed President and CEO of the Investor Protection Trust in June 2004.
IPT Financial Information
IPT posts its monthly financial statements as well as information on making contributions to IPT.