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
‘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
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
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
SB49 Facilitates Competitive Bidding in Cabin Site Sales Helena, Mont.- On Monday, Senate Bill 49, sponsored by Commissioner Troy Downing and carried by Senator Mike Cuffe was signed into law by Governor Greg Gianforte. This bill revises the sale of cabin sites on state trust lands to facilitate competitive bidding. “As a member of the … Read more
By Troy Downing When it comes to insuring your home it is important to know there is a significant difference between “Replacement Cost” and “Actual Cash Value” coverage. We’ll get to that shortly. You can’t watch TV without seeing an insurance commercial. Whether it’s Progressive’s Flo, Allstate’s Mayhem, or Jake from State Farm, there is a … Read more
NASAA NEWS FOR IMMEDIATE RELEASE NASAA Highlights Top Investor Threats for 2023 WASHINGTON, D.C. – The North American Securities Administrators Association (NASAA) today released its annual list of top threats to retail investors. This year, the most critical threats include financial scams tied to emerging technologies, marketing tactics designed to play on emotions, and further … Read more
Robinhood Financial Failed Montana Investors Helena, Mont.- Montana Commissioner of Securities and Insurance Troy Downing announced today that CSI joined a multi-state settlement with Robinhood Financial LLC. As part of the settlement, Robinhood agreed to pay $10.2 million in penalties for operational and technical failures that harmed Montana investors. The settlement stems from an investigation spearheaded … Read more
Helena, Mont.- Today, Troy Downing – The Montana Commissioner of Securities and Insurance, Montana State Auditor (CSI) suspended the insurance producer licenses of Kileen Moria Hagadone (License #106679) and Rosebud County Insurance, Inc (RCII) (License #100101036). The Commissioner has determined public safety and welfare requires this immediate emergency action. The Commissioner is also pursuing permanent revocation … Read more
Bad actors are now promoting investment scams that leverage widespread interest in AI FOR IMMEDIATE RELEASE Helena, Montana – Earlier today, the Montana State Auditor and Commissioner of Securities and Insurance joined the Texas State Securities Board and the Alabama Securities Commission in filing enforcement actions to stop a fraudulent artificial intelligence investment scheme. The … Read more