Colorado Securities Commissioner Gerald Rome to retire; DORA Executive Director appoints Chris Myklebust to the role
Gerald “Jerry” Rome
Gerald Rome was appointed Securities Commissioner on June 2, 2014 by former DORA Executive Director Barbara Kelley. Since, Rome has been responsible for the administration of the Colorado Securities Act, the Colorado Commodity Code, the Colorado Municipal Bond Supervision Act, and the Local Government Investment Pool Trust Fund Administration and Enforcement Act. Rome also successfully worked to pass and implement the Colorado Crowdfunding Act and the Act to Prevent the Exploitation of Vulnerable Adults.
As the head of the Colorado Division of Securities at DORA, during his tenure, the Division brought dozens of enforcement actions that resulted in restitution orders for investors in excess of $20 million, and in excess of 24 enforcement cases that resulted in criminal convictions. These convictions also resulted in a combined 159 years of prison time for perpetrators of securities-related crimes in Colorado, and more cases are currently pending. In addition, the examination program designed and executed several highly effective examination initiatives, including a tiered exam process for smaller firms. The initiatives resulted in doubling the number of significant licensing actions.
"Jerry has truly demonstrated what it means to be a civil servant for the people of Colorado throughout his career in securities industry regulation," stated Salazar. "From his steadfast pursuit of justice for victims of fraud to his work implementing programs and legislation aimed at prevention of crimes of fraud, theft and exploitation, Jerry never wavered from his mission to protect Coloradans. We wish him all the best in his well-deserved retirement."
From 2004 to 2013, Rome was the Deputy Securities Commissioner for the Colorado Division of Securities. Prior to 2004, he served for five years as the Division’s chief legal counsel in all of its civil enforcement matters as First Assistant Attorney General for the Colorado Attorney General’s Office. From 2010 to 2013, he was an adjunct professor at the University of Denver, Daniels College of Business, teaching real estate securities law.
In addition, Rome served for many years on the Board of Directors of the North American Securities Administrators Association (NASAA). "We certainly wish Commissioner Rome all the best in his retirement, but on a personal note we will miss him as a NASAA member, as a colleague, and as a friend," commented NASAA President Mike Pieciak. "Jerry did great work in Colorado and for our organization and we will miss his knowledgeable counsel."
"It has been a privilege to work at the Division of Securities for the past 18 years, especially with the talented and dedicated staff of the Division," said Rome. "I have been very fortunate to work on behalf of retail investors here in Colorado, a dream job for me, on diverse and challenging enforcement cases, and with a robust and efficient examination program. I look forward to following the Division’s continuing achievements on behalf of Colorado investors in years to come."
DORA’s Deputy Executive Director, Chris Myklebust, is the former State Bank and Financial Services Commissioner at DORA, overseeing two separate financial divisions -- the Division of Banking and the Division of Financial Services.
Department of Regulatory Agencies
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