Director - Joseph P. Borg

Borg was born and raised in the State of New York, graduated from The City College of New York and the Hofstra University School of Law in Hempstead, New York. He began his professional career in 1976 with a Clerkship as a Legal Intern with the Nassau County District Attorney’s Office under District Attorney Denis Dillon and later with New York Attorney General Louis Lefkowitz’s Consumer Fraud Division. In 1977, he worked for a New York law firm, Spizz & Gans, P.A., before joining Hagan Industries, Inc., as Assistant Corporate Counsel. While at Hagan Industries, Borg co-directed product liability litigation for all Hagan’s subsidiary corporations, including operations in New York, Virginia, Alabama, Georgia, Texas and California.

In 1979, he became Corporate Counsel/Legal Officer for First Alabama Bank of Montgomery, N.A. (n/k/a/ Regions Financial Corporation). His responsibilities included creation of a legal department and direction of all legal matters concerning banking activities and Acting Corporate Counsel for affiliated corporations.

In 1985, he joined the Montgomery law firm of Capouano, Wampold, Prestwood & Sansone, P.A. As a partner in the firm, his general practice included commercial and financial litigation, personal injury, securities, contracts and banking Law.

In 1994, he became the Director of the Alabama Securities Commission and continues to serve in this position. This state agency protects the citizens of Alabama against securities fraud by requiring the registration of broker-dealers, agents, and investment advisers, by promoting consumer awareness and through enforcement powers to provide for administrative, civil, and criminal penalties for violation of the Alabama Securities Act.

Borg served as the only three term president of the North American Securities Administrators Association (NASAA). He served as a member on the NASAA Board of Directors, as Chair of the International Committee, Chair of Enforcement, Ombudsman and in several other capacities. He is also a member of the Board of Directors of the National White Collar Crime Center (NW3C), and previously served as a member of the Board of Directors of the Investor Protection Trust (IPT) and the Investor Protection Institute (IPI).

From 2004-2008, he served as a U.S. delegate to an Intergovernmental Expert Group for the United Nations Commission on International Trade Law (UNCITRAL) in connection with a study on International Fraud and the Criminal Misuse and Falsification of Identity.

He has testified before various committees of Congress in such areas as Micro-Cap Securities Fraud (U.S. Senate Permanent Subcommittee on Investigation, 1997), Criminal Elements in the Markets (2001) and the role of State Securities Regulators (U.S. Senate Banking, Housing and Urban Affairs, 2004). He has continually received national media recognition for his leadership role in the war against White Collar Crime. His active participation led to the establishment of national and state level task forces to investigate Wall Street firms and the promotion of legislation to increase the severity of punishment for White Collar Crime offenders. In 2007, he testified before the U.S. House of Representatives Committee on Oversight and Government Reform, Subcommittee on Domestic Policy, to discuss risks posed to everyday investors from Initial Public Offerings of private equity and hedge funds; the U.S. Senate Committee on Banking, Housing and Urban Affairs (2007), concerning consolidation of NASD and the regulatory functions of the NYSE; and, the U.S. Senate Special Committee on Aging (2007) to share his insight with lawmakers about illicit investment sales practices that prey on senior citizens. In 2010, Borg testified before the U.S. House Financial Services Committee, Subcommittee on Capital Markets, regarding SIPA and SIPC ‘modernization’. Borg last testified (June 2018) before the U.S. House Financial Services Committee, Capital Markets Subcommittee hearing entitled “Ensuring Effectiveness, Fairness, and Transparency in Securities Law Enforcement.” Also, he represented states securities regulators at several conferences of the National Conference of State Legislatures (NCSL) to address the negative impact of preemption of states' securities laws and regulations and regulation of securities and insurance hybrid products.

Borg is a professional educator. From 1982-2002, he was an Adjunct Professor of Law teaching Uniform Commercial Code, Banking and Securities Law at Jones School of Law in Montgomery and a Program Lecturer for Troy State University, Alabama Judicial College, Alabama Bankers Association, Alabama Continuing Education and Jones Bar Review. His articles and commentaries have been used by national and local news media to track enforcement issues and address topics such as financial management, investing and fraud prevention.

He is admitted to practice law in Alabama, New York, Florida, Federal Courts in Alabama and Florida, the 5th and 11th Circuits of the United States Court of Appeals and the U.S. Supreme Court. Borg has been a member of the New York Academy of Sciences in addition to several professional legal associations. His former community affiliations include the Alabama Youth Foundation, the Exchange Club of Montgomery, the Montgomery Jaycees, and two terms as president of the Consumer Credit Counseling Service of Alabama, Inc.

(As of 10/14/20