Lindeen Settles With Morgan Stanley On Allegations Of Misleading Investors

csimt 2009, Press Release, Securities

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

csimt 2009, Press Release, Securities

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

csimt 2009, Press Release, Securities

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

csimt 2009, Insurance, Press Release

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 Announces Tour, Education Campaign to Prevent Fraud, Scams

csimt 2009, Press Release, Securities

Promises of high profits, low risks, and guaranteed returns may sound too good to resist to cash-strapped investors in a recovering economy, but Montanans struggling to avoid getting scammed don’t have to go it alone. Montana Commissioner of Securities and Insurance Monica Lindeen is hitting the road next week to help Montanans avoid investment and insurance traps and protect their hard earned money.

Lindeen Shuts Down Alleged Ponzi Scheme

csimt 2009, Press Release, Securities

Montana Commissioner of Securities and Insurance Monica Lindeen announced today that her office has shut down an alleged Ponzi scheme operated by a Kalispell man who allegedly bilked investors out of at least $1.5 million, including some of his own friends.