|By Tim Carpenter; Tim Carpenter firstname.lastname@example.org|
The top securities regulator in
"We have robust, powerful tools to go after bad actors," Ney said in an interview. "The one thing that is not currently there that
Ney was promoted to replace Securities Commissioner
During the 2013 session, the securities agency sought permission from lawmakers to divert a portion of revenue from financial penalties and lawsuit settlements — currently dedicated to investor education activities — to a prosecution rainy-day fund.
The proposal didn't generate much traction, but Ney said another attempt would be made during the session that begins in January. The fund would be used to assist local prosecutors with complex cases and relieve counties of the expense of bringing in expert witnesses, Ney said.
"When you go into
When named interim commissioner in February by Brownback, Ney said he withdrew an agency request, made by Jack, to seek adoption by
Jack pitched the "economic freedom amendment" as a vehicle to block the federal government from taking steps in
"I have no intention of resurrecting the economic freedom amendment," Ney said.
Jack, a former state legislator from
Jack produced during two years on the job a securities enforcement record half as robust as his predecessors in the job.
He created a
In the past eight months, Ney said the agency's management has worked to convince commission staff members they were important to the responsible regulation of the financial industry. He said morale at the agency has improved.
Ney said Jack's radio campaign was terminated soon after he took over as interim commissioner and no similar program was planned.
"I really want to get back to being a boring agency," Ney said.
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