Lindeen Reaches Settlement With NEXT For Allegations Of Unsuitable Investment

csimt 2010, Press Release, Securities

Montana Commissioner of Securities and Insurance Monica J. Lindeen today announced a settlement with NEXT Financial Services, a broker-dealer firm located in Houston, Texas, and the company’s salesperson from Casper, Wyoming, Gary Falber.† In early May 2010, Lindeen issued a Cease and Desist Order and Notice of Proposed Agency Action against NEXT Financial and Falber alleging multiple violations of the Montana Securities Act.

Goldman, Sachs, LLC. Pays $75,000 fine to Montana

csimt 2010, Press Release, Securities

Commissioner of Securities and Insurance, Monica J. Lindeen, today announced a settlement with Goldman, Sachs Inc. Under the agreement, Goldman Sachs has agreed to immediately repurchase from Montana investors the $25,650,000 in auction rate securities it sold before the market for the securities froze in February 2008. Goldman Sachs will also pay a $75,000 fine that will be deposited to the state’s general fund.

Lindeen Offers Information Regarding Flood Insurance

csimt 2010, Insurance, Press Release

Heavy rain around the state has brought much-needed moisture, so much that in several places it has also brought flood warnings. Commissioner of Securities and Insurance Monica J. Lindeen encourages Montanans to review your homeowner insurance policies to determine if you have flood insurance and offered advice on filing claims.

Lindeen Warns Of Scam Targeting Medicare Recipients

csimt 2010, Insurance, Press Release

Montana Commissioner of Securities and Insurance Monica J. Lindeen is warning Montanans about health care scams targeting Medicare recipients. “Many states are shutting down scams by persons offering to help Medicare recipients get their $250 rebates and we want to make sure Montana seniors don’t become victim,” says Lindeen.

Lindeen Gets Money Back For Montana Investors

csimt 2010, Press Release, Securities

Commissioner of Securities and Insurance, Monica J. Lindeen, finalized a settlement with UBS Securities LLC and UBS Financial Services. UBS has agreed to buy back over $73 million of failed auction-rate securities and pay a $300,000 fine to the Montana general fund as part of a national investigation alleging brokerage firms stuck clients with hard-to-sell bonds.

Lindeen Urges Insurance Producers to Register Online

csimt 2010, Insurance, Press Release

Montana Commissioner of Securities and Insurance (CSI), Monica Lindeen announced the launch of a new service that allows surplus lines insurance producers to file their surplus lines submission forms online at the CSI website. This service will not only save the agency money, but that savings will be passed to the agent and ultimately the consumer.