ALABAMA SECURITIES COMMISSION

770 WASHINGTON AVE, SUITE 570

MONTGOMERY, ALABAMA 36130-4700

Telephone: (334) 242-2984 or 1-800-222-1253. Fax: (334) 242-0240

Email: asc@asc.state.al.us. Website: www.asc.state.al.us

 

FOR IMMEDIATE RELEASE

 

United Nations Invites Joseph Borg to Speak at International Colloquium in Vienna, Austria

 

MONTGOMERY, ALABAMA (April 10, 2004) - Honorable Joseph P. Borg, Director of the Alabama Securities Commission has accepted an invitation to speak at the United Nations Commission on International Trade Law (UNCITRAL) in Vienna, Austria, April 16, 2004.

 

Borg said, I am proud to represent all State securities regulators[1] and the great state of Alabama as participants in this international effort to build unity and cooperation in fighting crime. Presently, a wide variety of laws and policies in different countries often make it very difficult to track down criminals or laundered money that has left our borders. International crime affects Alabamians and citizens throughout the United States as people around the world can invest via the internet from anywhere and at anytime. Alabama citizens have been victims to offshore ponzi, foreign currency, pyramid and prime bank schemes. Now is the time to set up cooperative information sharing programs, policy and laws to move towards greater enforcement and protection from fraud.

 

An excerpt from the letter of invitation reads:

 

A Colloquium on International Commercial Fraud is being organized by the United Nations Commission on International Trade Law (UNCITRAL) in cooperation with the International Institute for the Unification of Private Law (UNIDROIT), the Organization of American States, the Hague Conference on Private International Law, and the Institute of International Banking Law and Practice. The Colloquium will be held at the Vienna International Centre from 14-16 April 2004.

 

The Colloquium is being convened further to the recommendation of the Commission "that an international colloquium be organized to address various aspects of the problem of commercial fraud from the point of view of private law and to permit an exchange of views from various interested parties, including those working in national Governments, intergovernmental organizations and relevant private organizations with a particular interest and expertise in combating commercial fraud" and which is intended to "provide an opportunity to promote an exchange of views with the criminal law and regulatory sectors that combat commercial fraud and to identify matters that could be coordinated or harmonized II (Official Records of the General Assembly, Fifty-eighth Session, Supplement No.17 (A/58/17), para. 240).

 

ALABAMA SECURITIES COMMISSION

770 WASHINGTON AVE, SUITE 570

MONTGOMERY, ALABAMA 36130-4700

Telephone: (334) 242-2984 or 1-800-222-1253. Fax: (334) 242-0240

Email: asc@asc.state.al.us. Website: www.asc.state.al.us

 

If you have questions contact: Daniel G. Lord, Education and Public Affairs Manager. ###



[1] The Alabama Securities Commission is a member of the North American Securities Administrators Association (NASAA),

an organization of the 66 state, provincial and territorial securities administrators in the U.S., Canada, Mexico and Puerto Rico.