Montana Securities and Insurance Commissioner Monica Lindeen urges Montana Congressional Delegation to capitalize on states’ strengths

csimt 2009, Insurance, Press Release

The state-based insurance regulatory system has been a constant in an otherwise erratic economic climate. That was the key message conveyed this week when Montana Commissioner of Securities and Insurance Monica Lindeen visited members of Congress to highlight the part of the regulatory system that has consistently worked.

Lindeen Orders Shut Down of Illegal Fake Insurance Scheme

csimt 2009, Insurance, Press Release

Today, Montana Commissioner of Insurance and Securities Monica J. Lindeen has taken legal action to protect Montana consumers from a firm selling bogus insurance. Lindeen’s office is seeking a permanent cease and desist order, fines, and restitution from a group called Consolidated Worker’s Association (CWA) of Delaware and an affiliated group, the National Alliance of Benefit Services Association (NABSA).

Lindeen Announces $550,000 Settlement with Banc of America

csimt 2009, Press Release, Securities

More Montana investors who lost millions in auction rate securities will be getting their money back. State Auditor and Commissioner of Securities Monica Lindeen today announced a major settlement agreement with Banc of America Securities LLC and Banc of America Investment Services, Inc. to return over $550,000 to Montana investors. Today’s agreement will settle an investigation alleging Banc of America misrepresented auction rate securities (ARS) to investors as safe, cash-equivalent products, even though the products faced increasing liquidity risk.

New York Firm Settles With State Auditor’s Office Over Sale Of Unregistered Securities In Montana

csimt 2009, Press Release, Securities

State Auditor and Commissioner of Securities Monica Lindeen today entered into a settlement with New York-based broker-dealer firm Strasbourger, Pearson, Tulcin, Wolff, Inc. and its Chief Executive Officer, Ronald Moschetta. The Securities Department of the Auditor’s Office alleged the firm and Moschetta transacted securities business with Montana investors during the past year without being properly registered in Montana.