Lindeen: Cybersecurity a Must for Security Firms

csimt 2014, Press Release, Securities

More than 4 percent of investment advisers in a voluntary survey of North American investment houses reported experiencing an attempted cybersecurity incident, according to details of a report issued this month by the North American Securities Administrators Association, of which Montana is a member.

Justice: 20 Years, $5 Million Fine

csimt 2014, Press Release, Securities

Convicted felon Richard Reynolds will serve 20 years in prison and was ordered to pay almost $5 million in restitution and fees for bilking more than 140 victims out of nearly $5.4 million through a massive Ponzi scheme that defrauded investors in Montana, the U.S. and four foreign countries.

Lindeen Files Order Against Potential Scam

csimt 2014, Press Release, Securities

Montana Securities Commissioner Monica J. Lindeen filed a temporary cease and desist order on Wednesday against TelexFREE, a Voice over Internet Protocol (VoIP) sales program that Lindeen’s office suspects may be a pyramid scheme that has already cost Montanans $70,000.

Lindeen Orders Firm to Repay Montanans $262,000

csimt 2013, Press Release, Securities

Montana Securities Commissioner Monica J. Lindeen has ordered New York City-based Chelsea Financial Services to pay eight Montanans more than $260,000 after alleging that one of the firm’s salespeople made hundreds of inappropriate transactions from their investment accounts to generate commissions for himself.