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State’s financial watchdog adding investigators

New Jersey wants to hire four new investigators at the state’s financial watchdog as it prepares to take on greater jurisdiction.

The new investigators, expected to be hired by year’s end, will aid in the state’s oversight of investment advisers — a role set to expand next year — as well as investigate fraud and protect investors, said Abbe Tiger, the new chief of the Bureau of Securities, the state’s financial regulator.

“We’ve seen a lot of Ponzi schemes over the last several years,” Tiger told a gathering of securities lawyers in Newark Tuesday evening. “I don’t think we’ve seen the end of those.”

Staffing would rise to 41 with the hires, including Tiger, though the bureau’s payroll would not surpass the head count of 53 in fiscal 2007, before cutbacks and a hiring freeze.  (Tangel, The Record)