Laura Shirtliff

Commissioner Downing Announces $13 Million Settlement Against Raymond James Financial

Helena, Mont.-Today, State Auditor and Securities Commissioner Troy Downing announced a $13 million settlement with Raymond James & Associates, Inc. and Raymond James Financial Services, Inc., resulting from an investigation into the company’s practices of charging unreasonable commissions to retail customers on small-dollar transactions. The multi-state investigation, spearheaded by the Montana Commissioner of Securities and … Read more

Elder abuse often involves scams and fraud

By BERL TISKUSReporter | June 22, 2023 12:00 AM   Financial scams and fraud are the most common forms of elder abuse according to Troy Downing, Montana State Auditor and Commissioner of Securities and Insurance. He was in Polson last week, along with representatives from Elder Protective Services, staffers from Downing’s office, Jake Santee from Sen. Steve Daines’ … Read more

Bounty Hunter Reform to Protect the Public

An Opinion Editorial by Commissioner Troy Downing Bail bonds are integral to the criminal justice system – they allow those charged with crimes freedom to work on their defense and deal with their personal lives and obligations prior to trial. Bail bond agents are responsible for ensuring a person shows up to court. If the … Read more

Troy Downing Offers Advice to Seniors on World Elder Abuse Awareness Day

Helena, Mont.- In recognition of World Elder Abuse Awareness Day (WEAAD) on June 15, Commissioner Troy Downing reminds Montanans to be vigilant of investment scams targeting seniors. The Commissioner of Securities and Insurance is charged with protecting Montana investors from financial scams – the majority of these are perpetrated against our senior population. “Nearly every senior … Read more

Response to May 26th Opinion Editorial regarding House Bill 62

An Opinion Editorial by Commissioner Troy Downing In response to John Looney’s May 26 Opinion Editorial regarding House Bill 62: The CSI appreciates all the collaboration and input we received from industry, law enforcement, and stakeholders when drafting House Bill 62. The intent of HB62 was to put reasonable sideboards on fugitive recovery agents − … Read more

Governor Gianforte Signs HB836 Paving Way for Innovative Insurance Products

‘Regulatory Sandbox’ Allows Insurers to Offer New Products or Services FOR IMMEDIATE RELEASE  CONTACT: Ethan Heverlyeheverly@safemt.gov or (406) 544-8287 HELENA, MT—Montana State Fund (MSF), the state’s largest and leading workers’ compensation insurance company, announced the signing of House Bill 836 (Rep. K. Zolnikov—Billings) on Wednesday. HB836, creates a ‘regulatory sandbox’ in which property and casualty … Read more

Tort Reform Lowers Costs on Small Businesses

An Opinion Editorial by Commissioner Troy Downing    As the Montana Insurance Commissioner, I am often asked about high premiums in certain lines of insurance. One example is rising premiums in wildfire risk areas. This makes intuitive sense − if the risk of fire and loss is higher, the premium increases to ensure the insurance … Read more

Commissioner Troy Downing’s Bill Reining in Bounty Hunters Signed into Law

Helena, Mont.- Following a string of high-profile crimes committed by bounty hunters in Montana, Commissioner Troy Downing’s legislation to protect Montanans by putting sideboards around fugitive recovery agents is now law.  House Bill 62, carried by Representative Bill Mercer (R-Billings), creates standards and qualifications for bounty hunters requiring them to license as surety insurance producers.  “Bounty … Read more

Governor signs bounty hunt bill prompted in part by fatal Butte incident

Gov. Greg Gianforte has signed legislation designed to curb reckless and dangerous bounty-hunting tactics in Montana that was drafted after a series of violent apprehensions, including one in Butte that led to homicide charges. Republican Troy Downing, the state’s auditor and commissioner of Securities and Insurance, proposed House Bill 62, and it was sponsored by … Read more

Commissioner Troy Downing Warns of Phishing Scam

Scam Affecting Senior Citizens in Montana Helena, Mont.- Commissioner Troy Downing released the following statement regarding a phishing scam affecting senior citizens in Montana: “In the past five days, CSI’s Financial Abuse Specialist Team (FAST) received multiple complaints regarding a phishing and cryptocurrency scam targeting senior citizens in the Bozeman area. The victims receive a pop-up … Read more