Protecting the Big Sky: Tour of Western Montana

FOR IMMEDIATE RELEASE Helena, Montana—The Commissioner of Securities and Insurance (CSI) is hosting 16 investor protection events across western Montana this March. The events are part of the Protecting the Big Sky tour—a series of educational presentations to inform adults and seniors about common investment scams, and how to detect and prevent financial exploitation. In … Read more

State Auditor’s Office teaches Great Falls seniors how to prevent fraud

By: James Rolin   GREAT FALLS — Staff from the Montana State Auditor Commissioner of Securities and Insurance Office (CSIMT) came to the Highgate Senior Living Facility on Tuesday, February 13, 2024, as part of a larger series of presentations that they are giving around the state. For the event, the Outreach Coordinator of CSIMT, Blair … Read more

For Love or Your Money–Romance Scams on the Rise

FOR IMMEDIATE RELEASE Helena, Montana—With love in the air and the recent FBI warning, the Commissioner of Securities and Insurance (CSI) emphasizes the importance of Montanans to be on the watch for romance scams—or confidence scams—and recognizing the warning signs. On the rise nationally, romance scams target our neighbors and loved ones of all ages. … Read more

Commissioner Downing Joins 26 Other States and the SEC in $3 Million Settlement with Unregistered Crypto Program

TradeStation settles allegations of selling unregistered securities in crypto-interest earning program FOR IMMEDIATE RELEASE Helena, Montana, February 7, 2024–The Montana Commissioner of Securities and Insurance joined a task force of 26 state securities regulators and the U.S. Securities and Exchange Commission (SEC) to announce a $3 million settlement in principle with TradeStation Crypto, Inc. over … Read more

Commissioner Downing Announces Historic Settlement with State Farm Regarding Unfair Claim Settlement Practices

FOR IMMEDIATE RELEASE The parties agreed that certain auto accident claimants were inappropriately denied payment. Helena, MT, February 6, 2024—Troy Downing, the Montana Commissioner of Securities and Insurance (CSI), announced today a settlement with State Farm Mutual Automobile Insurance Co. (State Farm), wherein State Farm agrees to pay a $2 million fine and to be … Read more

2023 PBM Transparency Report Released by Commissioner Downing

Helena, Mont.- In 2021, Commissioner Downing requested legislation which was introduced by Senator Hertz to oversee Pharmacy Benefit Managers (PBMs). The bill became law and requires PBMs to be licensed and provide an annual transparency report to CSI. PBMs are paid by the health plan to create a formulary, which is a list of drugs that … Read more

Commission of Securities & Insurance partners with FBI to spread scam awareness

HELENA — The elderly are often targeted in financial scams, typically through their computers and cell phones, and Montana is no different. “I get probably ten scam emails a day and one or two ‘robocalls’ a month,” said 80-year-old Fred Cowie. He experiences scammers daily and spoke with me Thursday at Albertson’s in Helena, where … Read more

Forsyth woman sentenced for insurance fraud

Forsyth woman was sentenced Thursday to 51 months in prison for defrauding customers through her insurance brokerage business to finance her alcohol and gambling addictions. Kileen Moria Hagadone, 57, pleaded guilty in August to wire fraud and aggravated identity theft. She could have been sentenced to as little as two years — the minimum sentence … Read more

$50,000 restitution check awarded to Anaconda fraud victim

HELENA — Commissioner Troy Downing signed a $50,000 restitution check for a fraud victim Friday, according to a news release from the office of the Montana State Auditor. Susan Bivins, of Anaconda, was the victim of an elaborate fraud scheme that cost her not only her checking and savings accounts but also her entire retirement savings. … Read more

Commissioner Downing Moves Land Board to Approve Purchase of 328-Acre North Wildcat Coulee Wildlife Management Area

FOR IMMEDIATE RELEASE Helena, Montana – Commissioner Troy Downing and the Montana Land Board voted to approve the purchase of the Lower Yellowstone River Project and the North Wildcat Coulee Wildlife Management Area (WMA). The 328-acre property is located approximately two miles upstream of the Far West Fishing Access Site and consists primarily of riparian … Read more