Lewis Brothers joined the Virginia State Corporation Commission in 1967, specializing in brokerage accounting and collaborating closely with the SEC and other regulators. Rising to director in 1971, Mr. Brothers led major investigations into church bond fraud, finance company note schemes, and oil and gas scams. He played a key role in defending state authority over broker licensing and helped develop the Central Registration Depository and Series 63 exam through North American Securities Administrators Association. This oral history was recorded on two different days. The descriptions for each recording are below.
Part 1: In the first interview, Lewis Brothers discusses his regulatory career from when he joined the Virginia State Corporation Commission in 1967 to his two terms as president of the North American Securities Administrators Association.
Part 2: Mr. Brothers discusses the Virginia State Corporation Commission’s evaluation of whether promissory notes issued by Lyndon LaRouche and the U.S. Labor Party were securities within the definition of the state’s securities laws.