Who is referred to as the "administrator" in securities regulation?

The term "administrator" in securities regulation specifically refers to the official responsible for enforcing and administering state securities laws. This individual or entity is tasked with overseeing the registration of securities, regulating the conduct of brokers and dealers, and protecting investors within a given state.

The role of the administrator is crucial in maintaining market integrity and ensuring compliance with legal standards set forth in securities legislation. This includes investigating potential violations of securities laws and taking appropriate enforcement actions when necessary.

Other options, such as the financial institution overseeing securities, the public that is investing, and the investor protection agency, do not accurately describe the specific regulatory role defined by the term "administrator." These entities may have their own important functions in the securities market, but they do not serve the same direct regulatory purpose as the administrator does within the framework of state securities laws.