The Secretary of State has appointed a new director to the New Hampshire Securities Bureau.
New Hampshire Securities Bureau responsibilities include regulating financial services, investigating securities fraud and overseeing public risk pools, like the Local Government Center.
Barry Glennon enters this role as his office waits for a ruling on whether the LGC owes its clients – New Hampshire cities and towns - $70 million dollars.
Critics have accused the Bureau of mishandling the FRM Ponzi scheme and being too aggressive in its pursuit of LGC.
Glennon – who’s worked in the office since 2001 – says he stands by his colleagues and their work.
“I know that my primary responsibility is to enforce the law...I intend to continue what has been the case for the administration over the last 10 years. I really do not intend to deviate from that much.”
Glennon took heat in a 2010 Attorney General’s Report for failing to do more to halt the FRM scam.
Director Glennon serves at the pleasure of the Secretary of State.