Today, Governor Gianforte issued a proclamation honoring Lynne Egan’s devotion to the people of Montana as CSI’s Deputy Securities Commissioner. The Securities Restitution Assistance Fund will now be commonly referred to as ‘The Lynne Egan Memorial Securities Restitution Assistance Fund.’
In attendance at the signing was Lynne’s husband Wayne Klinkel, Commissioner Downing and members of the CSI team, former State Auditors Morrison and Lindeen, and a representative from Congressman Rosendale’s Office.
“Lynne’s work positively affected the lives of every Montanan. Our team and Lynne’s family are grateful to the Governor for helping us honor her legacy.” Commissioner Downing said, “Lynne had an unmatched work ethic and a huge heart for service and protecting the vulnerable. She was unmatched in her work to protect seniors, combat elder exploitation, develop model laws that have been adopted across the country, find avenues for restitution for victims when their perpetrators were insolvent, and protect workers from retaliation.”
The Lynne Egan Memorial Securities Restitution Assistance Fund awards money to eligible victims of securities fraud to help recoup some of the money lost. The program is funded by fees collected from the securities industry and contributions from bad actors – there is no cost to Montana taxpayers. Lynne Egan drafted the model legislation as a member of the North American Securities Administrators Association and worked tirelessly to pass the bill into Montana law.
In March, Commissioner Downing approved over $340,000 in restitution payments to victims of Metals.com. The victims, ranging in age from 60 to 77, received payments of $14,676 to $50,000.
Lynne Egan passed away in early July following her battle against breast cancer. Lynne’s public service included 28 years with the state of Montana, including 13 years as Deputy Securities Commissioner.