CHIEF, BUREAU OF SECURITIES

Definition

Under direction of the Director, Division of Consumer Affairs, Department of Law and Public Safety directs the activities of the Bureau of Securities in administering the Uniform Securities Law (1967) (N.J.S.A. 49:3-47 et seq), the Real Estate Syndication Law (N.J.S.A. 49:3-27 et seq) and the New Jersey Corporation Takeover Bid Disclosure Law (N.J.S.A. 49:5-1 et seq); does related work as required.

Examples of work

• Drafts and/or reviews drafts of proposed rules, and pursuant to the Administrative Procedures Act, reviews and weighs comments from the public after such proposed rules have been properly published.
• Issues orders and proposed orders (censure, cease and desist, revocation, suspension, denial, stop, etc.) in connection with applications for registration and/or violation of the Securities Laws.
• Initiates investigations in or out of State in order to determine whether or not a violation has occured, is occuring or is about to occur.
• Issues or directs the issuance of subpoeneas to compel the attendance of witnesses or the prosecution of documents.
• Conducts hearings in connection with the issuance of orders or proposed orders relating to the censure, cease and desist, revocation, suspension, denial, stop, etc., and sits as hearing officer or delegates such duties, and prepares written findings of fact and conclusions of law in connection with such hearings.
• Is responsible for deciding when a matter should be the subject of injunctive proceedings and when to apply for the appointment of a receiver.
• Refers appropriate matters to the Division of Criminal Justice in connection with any administrative action so as not to jeopardize the conduct or outcome of a criminal matter.
• Prepares replies, formal or informal, oral or written, to inquiries from registrants, complainants, attorneys, members of other regulatory agencies or the general public concerning the operation and effect of securities laws in any given set of circumstances.
• Prepares and justifies budget requests.
• Prepares comments on or drafts proposed legislation concerning the securities laws or proposed laws affecting the operation of the securities laws or the Bureau of Securities ability to carry out the provision of such laws.
• Reviews or directs the review of registrations statements, advertising or other material and exhibits filed therewith in connection with proposed securities offerings and gives comment thereon.
• Conducts meetings with and/or confers with the members of the Securities Advisory Committee.
• Maintains liaison with Securities Administrators of other States, the Securities and Exchange Commission, the National Association of Securities Dealers, Inc., stock exchanges and other regulatory agencies in the securities field.
• Organizes assigned technical and professional work, analyzes operating procedural problems and develops effective work methods of the office staff.
• Makes detailed analyses of current and proposed laws, rules and regulations pertaining to securities to determine their effectiveness.
• May be required to learn to utilize various types of electronic and/or manual recording and information systems used by the agency, office, or related units.

Experience

Five (5) years experience in securities practice, state and federal, in private industry or government service, including experience involving analysis of documents such as financial statements or registration statements, two (2) years of which shall been in a managerial capacity.

License

Admission to practice as an attorney at law in the State of New Jersey.

Appointees will be required to possess a driver's license valid in New Jersey only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essential duties of the position.

Knowledge, skills and abilities

• Knowledge of the Uniform Securities Law (1967), the Real Estate Syndication Offerings Law and the New Jersey Corporation Takeover Bid Disclosure Law, including all regulations, interpretations and policies of the aforementioned laws.
• Knowledge of the Federal Securities Laws and regulations, including the Securities Act of 1933, the Securities Exchange Act of 1934 and the Investment Company Act of 1940, and the securities laws of the other states as well as a familiarity with general administrative law.
• Knowledge of and familiarity with modern theory, procedures, techniques, literature and professional journals used with the securities field.
• Ability to analyze a set of facts, apply the applicable law and to make a decision as to what course of action, if any, should be taken.
• Ability to assign employees of the Bureau of Securities to various aspects of analysis of any problems and solicit from them views and to solve or suggest answers to solutions to any problem creating an impasse.
• Ability to communicate to Bureau employees, attorneys, registrants, and the general public the problems at issue, the applicability of the relevent sections of the law and the reasoning behind decisions made.
• Ability to form settlements and to comment on a bona fide offer or settlement in both contested and uncontested matters before the bureau.
• Ability to recognize matters involving possible violations of the criminal law in relation to securities and to recommend such matters to the Division of Criminal Justice with analysis, facts, conclusions and recommendations.
• Ability to review filings in connection with Real Estate and Intra-state Offerings, applications for exemptions, filings and requests for hearings under the Corporate Bid Takeover Disclosure Law and general inquiries concerning the application of the laws administered.
• Ability to prepare and submit budget recommendations.
• Ability to prepare detailed reports including facts, findings, conclusions of laws and recommendations.
• Ability to direct personnel in the performance of their duties.
• Ability to learn to utilize various types of electronic and/or manual recording and information systems used by the agency, office, or related units.
• Ability to read, write, speak, understand, or communicate in English sufficiently to perform the duties of this position. American Sign Language or Braille may also be considered as acceptable forms of communication.
• Persons with mental or physical disabilities are eligible as long as they can perform the essential functions of the job after reasonable accommodation is made to their known limitations. If the accommodation cannot be made because it would cause the employer undue hardship, such persons may not be eligible.
• CODES: A32- JMR 3/15/94