Lindeen Urges Insurance Producers to Register Online

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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.

CSI Names New Chief Legal Counsel

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Jesse Laslovich has been appointed the new chief legal counsel for the Commissioner of Securities and Insurance. The announcement was made today by Commissioner Monica Lindeen. Laslovich joined the Office of the Commissioner of Securities and Insurance (CSI) in May 2009 as a staff attorney. The current chief legal counsel, Christina Goe, will be moving to general counsel to devote her time to federal and state-level health insurance reform.

Supreme Court Upholds Commissioner’s Decision against Kalispell Man

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Commissioner of Securities and Insurance Monica Lindeen announced today that the Montana Supreme Court upheld the Commissioner’s Office order fining former Banker’s Life insurance agent, Martin O. Bower, $80,000 for violating the Montana Securities Act by victimizing two elderly women in northwestern Montana. In addition to the fine, the order also bans Bower from becoming licensed to sell insurance for five years, and bans him from seeking any securities registration or licensure.

CSI 2009 Accomplishments

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nder Commissioner Monica Lindeen’s direction, the Montana Commissioner of Securities and Insurance (CSI) Office achieved considerable success in 2009.

Lindeen Settles With Morgan Stanley On Allegations Of Misleading Investors

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Montana Commissioner of Securities Monica Lindeen finalized a settlement with Morgan Stanley & Co., Inc. regarding allegations the company misled investors. In the agreement, Morgan Stanley has agreed to provide liquidity to Montana investors who invested in auction-rate securities before the market for the securities was frozen in February 2008. The settlement includes rescission to Montana victims totaling more than $43 million and a $120,000 fine to be deposited to the state’s general fund.

Lindeen Appointed to Key National Committee

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Montana Commissioner of Securities and Insurance Monica J. Lindeen announced today that she has been appointed to the North American Securities Administrators Association’s (NASAA) Federal Legislation Committee, a key committee as Congress continues the work of reforming the nation’s financial regulatory system.

Lindeen Secures Nearly $1.3 Million from LPL Financial for Victims of Kalispell Ponzi Scheme

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LPL Financial Corporation (LPL) will pay nearly $1.3 million in restitution to Montana investors and a fine of $150,000 to the State of Montana under a settlement announced today by Monica Lindeen, Montana Commissioner of Securities and Insurance. The restitution and fine are the resoultion of claims involving the alleged illegal activity of a former LPL registered representative, Donald Chouinard, who allegedly operated a Ponzi scheme in the Kalispell area, and the alleged failure by LPL to supervise Chouinard.

Commissioner Lindeen recognized by U.S. Secretary of Department of Health and Human Services

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Today Montana Commissioner of Securities and Insurance Monica J. Lindeen was asked to join Secretary Sebelius in a national press conference as she announced the latest grants to states to implement healthcare reform. Lindeen was recognized for her outstanding efforts to protect consumers in Montana, as well as her commitment to successfully implement healthcare reform.

Lindeen Warns Investors of 2009 Top Ten Investor Traps

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Hot on the heals of a northeastern Montana consumer education tour, Montana Commissioner of Securities and Insurance Monica Lindeen reminds investors to take stock of their financial education and arm themselves with the knowledge to sidestep this year’s Top Ten Investor Traps.