State Securities

Allstate Insurance Company and Allstate Vehicle and Property Insurance Company Enforcement Order

Oregon's Division of Financial Regulation added a new enforcement order against Allstate Insurance Company and Allstate Vehicle and Property Insurance Company. The enforcement action, case INS-25-0072, is dated 04/14/2026 and appears on the state's official notices and orders page. This is an administrative enforcement action under the state's insurance regulatory authority.

New Summary Order Against ElonMuskQuantumAI and Christopher Robert; Vanguard Consent Order Removed

Wisconsin DFI Securities Division added a new Summary Order against ElonMuskQuantumAI and Christopher Robert, Case S-251864 (EX), issued April 14, 2026. The enforcement action has been placed at the top of the published enforcement orders list. Simultaneously, the Consent Order for Vanguard Marketing Corporation and The Vanguard Group (Case S-245138) has been removed from the page.

Two new Oregon DFR insurance enforcement orders added 04/07/2026

Oregon's Division of Financial Regulation added two new enforcement actions on April 7, 2026. The first is a consent order (INS-25-0052) against Anssi Viljanen and Ironside Claims LLC for insurance violations. The second is a default order (INS-26-0015) against Standard Life and Accident Insurance Co. Both orders were issued by the state's insurance regulator.

BlockFi Lending LLC - Consent Order for Unregistered Securities

The Michigan Corporations, Securities, and Commercial Licensing Bureau issued a consent order against BlockFi Lending LLC (ENF-22-020040) for violating state securities laws by offering and selling unregistered BlockFi Interest Accounts (BIAs) to Michigan residents. BlockFi agreed to cease and desist all BIA sales in the United States and contribute $50 million to a multistate settlement distributed equally among 53 jurisdictions.

NYPPEX LLC Broker-Dealer Registration Revocation

The Michigan Department of Licensing and Regulatory Affairs issued a Final Order immediately revoking NYPPEX LLC's broker-dealer registration (CRD # 47654) effective upon mailing in December 2022. The revocation was authorized under sections 412(2), (4)(d), and (4)(e)(i) of the Michigan Uniform Securities Act (2002). The company is prohibited from engaging in any broker-dealer activities in Michigan until it obtains proper registration and demonstrates full compliance with the order.

AMS Holdings and Brad Stroup - Securities Registration Violation Consent Order

The North Dakota Insurance & Securities Department entered a Consent Order with AMS Holdings, LLC and principal Bradley J. Stroup for operating as an unregistered issuer-dealer, broker-dealer, and agent in North Dakota. Stroup admits to the violations and agrees to an 18-month prohibition from securities registration and all securities-related transactions in North Dakota. The prior July 19, 2023 Cease and Desist Order is rescinded as part of this settlement.

Oregon Securities Default Order - Blue Ocean Capital

The Oregon Division of Financial Regulation entered a default order against Blue Ocean Capital LLC (Case No. S-26-0012) for securities violations. The company failed to properly ratify its hearing request within the required 28-day period, resulting in a default finding. The order imposes cease and desist requirements, denies use of exemptions, assesses civil penalties, and orders restitution.

Ruben Ledesma Hudson Securities Violations - $250k Restitution Default Order

The Oregon Division of Financial Regulation entered a Default Order against Ruben Ledesma Hudson and The Advancement Group Investment Fund LLC for securities violations. Hudson failed to appear at a scheduled administrative hearing on March 31, 2026, resulting in a default judgment. The order assesses $250,000 in restitution to Oregon consumer KB and includes cease and desist provisions, civil penalties, and denial of securities exemptions.

Oregon DFR Adds Three New Enforcement Cases

Oregon Division of Financial Regulation added three new enforcement cases to its public enforcement page dated 03/31/2026. The cases include two securities matters (Andrew Mason and Blue Ocean Capital LLC, case S-26-0012; Ruben Ledesma Jr./Advancement Group Investment Fund LLC, case S-25-0025) and one insurance matter (Rhoda Williams, case INS-25-0073).

CREO Global Capital LLC and Peter Savarino - Consent Order

The Michigan Department of Licensing and Regulatory Affairs has issued a Consent Order against CREO Global Capital LLC and Peter Savarino for alleged violations of securities regulations. The order requires them to pay a $1,000 civil fine and engage a consultant to review their policies and procedures.

Crowd Freak, LLC - Notice and Order to Cease and Desist

The Michigan Department of Licensing and Regulatory Affairs has issued a Notice and Order to Cease and Desist against Crowd Freak, LLC for offering and selling unregistered securities. The company is not registered with the state and has not identified any relevant exemptions from registration requirements.

Edward Jones Charged Unreasonable Commissions - Consent Order

The Missouri Securities Division has issued a consent order against Edward D. Jones & Co., L.P. (Edward Jones) for charging unreasonable commissions on small principal equity transactions between May 1, 2020, and April 30, 2025. The firm allegedly charged commissions exceeding 5% on approximately 781,240 transactions, totaling over $11.2 million nationwide.

RBC Capital Markets LLC Consent Order on Commissions

The Missouri Securities Division has entered into a consent order with RBC Capital Markets, LLC, for charging unreasonable commissions on equity transactions between May 2020 and May 2025. RBC will pay approximately $3.4 million nationwide for overcharging on nearly 90,000 transactions.

TD Ameritrade Consent Order for Excess Commissions

The Missouri Securities Division has entered into a consent order with TD Ameritrade, Inc. for charging commissions exceeding 5% on certain small principal equity transactions between June 30, 2018, and June 30, 2023. TD Ameritrade agreed to this order without admitting or denying the allegations.

LPL Financial LLC Consent Order - Unreasonable Commissions

The Missouri Securities Division has entered into a consent order with LPL Financial LLC for charging unreasonable commissions on small principal equity transactions. LPL Financial LLC will pay $78,920.98 in commissions to Missouri residents for over 127,000 transactions nationwide between April 30, 2020, and April 30, 2025.

Oregon State Securities Enforcement Orders Update

The Oregon Division of Financial Regulation has added two new enforcement orders to its notices and orders page. The orders are against New Life Solutions (DM-25-0061) for debt management and Jackson Avery & Associates (CA-25-0062) for collection agencies. The total number of entries on the page has increased from 20 to 22.

Oregon Enforcement Orders for United Advocacy Counseling and NEXT Insurance

The Oregon Division of Financial Regulation has added two new enforcement orders. United Advocacy Counseling (DM-25-0060) and NEXT Insurance US LLC (INS-25-0051) are subject to these orders, with dates of March 17, 2026, and March 16, 2026, respectively.

Larry Holley - Fine Payment Instructions and Consent Order

The Michigan Department of Licensing and Regulatory Affairs has issued fine payment instructions and a consent order related to Larry Holley's unregistered securities activities. The total fine for Larry Holley has been reduced to $40,000.00, payable after the SEC receivership closes.

Consent Order: McGonigle and RetireCo Cease and Desist

The Wisconsin Department of Financial Institutions issued a consent order against Matthew McGonigle and RetireCo Solutions, LLC for violating securities laws. The order requires them to cease and desist from further violations and includes restitution and barring from future registration.

Cease and Desist Order Against Watsans Exchange and Sabrina Marlow

The Wisconsin Department of Financial Institutions has issued a cease and desist order against Watsans Exchange and Sabrina Marlow for alleged violations of the Wisconsin Uniform Securities Law. The order revokes exemptions and proposes restitution and civil penalties for operating an unregistered crypto asset trading platform.

Montana Securities Act Overview

The Montana Securities Division provides an overview of the Montana Securities Act, emphasizing its role in investor protection, capital formation, and promoting uniformity among states. The page highlights key statistics for broker-dealer firms, capital approved, and issuer filings in Montana.

Montana Securities Division Enforcement Actions

The Montana Securities Division filed 16 enforcement actions in FY 2025, resulting in $59,000 in restitution ordered and $145,500 in fines and fees. The division investigates and prosecutes violations of Montana's insurance and securities laws.

Montana Securities Fraud Reporting and Investigation

The Montana State Auditor, Commissioner of Securities and Insurance has updated its website to provide information on reporting securities fraud, investment theft, Ponzi schemes, and pyramid schemes. The agency encourages consumers and professionals to report suspected fraud through their online or paper complaint forms.

Montana CSI Securities and Insurance Enforcement Actions

The Montana Commissioner of Securities and Insurance (CSI) has listed multiple securities and insurance enforcement actions on its website. These actions include consent agreements and final orders against various companies for alleged violations of Montana's Insurance Code and Securities Act.

Oregon Division of Financial Regulation v. Quantum Corp. Technologies - Default Order

The Oregon Division of Financial Regulation has issued a default order against Quantum Corp. Technologies (QCT) and Jacqueline Hudson Parsons. The order includes a cease and desist, denial of exemptions, civil penalties, and restitution, entered by default against QCT due to failure to ratify a hearing request.

CFTC and States v. Safeguard Metals LLC - Securities Enforcement

The Commodity Futures Trading Commission (CFTC) and multiple states have reached a settlement with Safeguard Metals LLC and its principal, Jeffrey Ikahn. The settlement includes a $2.8 million civil penalty for alleged violations of the Commodity Exchange Act and state securities laws.

Pankaj Dayo Motwani Settles Securities Violations with Oregon DFR

The Oregon Division of Financial Regulation has issued a Consent Order against Pankaj Dayo Motwani for alleged securities violations. The order includes findings of fact, conclusions of law, and assesses civil penalties, denies use of exemptions, and bars Motwani from financial services business activities.

Edward D. Jones & Co., L.P. - Consent Order

The North Dakota Securities Department has issued a consent order against Edward D. Jones & Co., L.P. The order details alleged violations and requires the firm to take specific corrective actions. This action stems from an enforcement investigation by the department.

North Dakota Joins $106M Vanguard Settlement for Investors

North Dakota has joined a multi-state settlement with Vanguard Marketing Corporation and The Vanguard Group Inc., resulting in a $106 million payment to investors. The settlement addresses failures to supervise registered persons and disclose potential tax consequences to investors following a change in investment minimums for certain retirement funds.

EPIC Management, Todd Berning - Stop Order Issued by ND

The North Dakota Securities Department has issued a stop order against EPIC Management, LLC and Todd Berning, requiring them to immediately cease offering or selling membership interests. This action is due to concerns about the company's financial condition, transparency, and operations, and aims to protect investors.

Edward Jones Faces $17M Multi-State Enforcement Settlement

The North Dakota Securities Department joined a $17 million multi-state settlement with Edward Jones over supervisory failures related to front-load commissions on Class A mutual fund shares. Edward Jones will pay approximately $320,000 to each participating state and Washington D.C., the U.S. Virgin Islands, and Puerto Rico.

Tennessee Securities Division Initial Enforcement Orders

The Tennessee Securities Division has published a new section detailing its initial enforcement orders. This resource provides information on past enforcement actions taken by the division to protect investors and ensure compliance with state securities laws.

Tennessee Securities Division Consent Orders

The Tennessee Securities Division has updated its list of consent orders, adding new actions for 2026 and 2025. These orders typically involve enforcement actions against individuals and firms for alleged violations of state securities laws.

Vermont Securities Regulations

The Vermont Department of Financial Regulation has updated its securities regulations. This revision pertains to Regulation S-2016-01, with a revised effective date of December 16, 2021.

Vermont DFR Securities Bulletins and Guidance

The Vermont Department of Financial Regulation has issued Securities Bulletin S-2025-02, providing guidance for investment advisers and broker-dealers on complying with state requirements for protecting client financial information. This bulletin outlines specific measures firms must implement to safeguard sensitive client data.

Vermont Securities Enforcement and Consent Orders

The Vermont Department of Financial Regulation has published a list of recent securities enforcement and consent orders. These orders involve various financial advisory firms and broker-dealers, detailing stipulations and agreements related to their operations within the state.

Missouri Securities Enforcement Orders and News

The Missouri Secretary of State's Securities Division has updated its website to provide access to recent enforcement orders and news. This update aims to enhance investor protection by offering a centralized location for relevant information from the Enforcement Section.

Missouri Securities Administrative Orders

The Missouri Securities Division has updated its list of administrative orders. This includes rescinding an order related to investment adviser examination requirements and waiving examination requirements for certain broker-dealer agents and investment advisers. Several orders for payment from the Investor Restitution Fund are also listed.

Missouri Securities Division Consent Orders Index

The Missouri Securities Division has published an index of recent consent orders and other enforcement actions. These orders involve various financial firms and individuals, with dates signed ranging from July 2024 to January 2026. The index provides case numbers and links to official copies of the orders.

Utah Securities Enforcement FAQs

The Utah Division of Securities has published an FAQ addressing common questions regarding its enforcement processes. The FAQs cover investigation timelines, complaint filing procedures, restitution, and the possibility of testifying in court.

Utah Securities Fraud Convictions and Warnings

The Utah Division of Securities is issuing warnings and highlighting recent enforcement actions related to securities fraud. Recent updates include investor alerts about BG Wealth Sharing LTD, a sentencing for a multi-million dollar securities fraud scheme, and a final judgment against a precious metals firm.

Maine Securities Enforcement Actions

The State of Maine's Office of Securities & Investment Regulation has updated its list of civil and criminal enforcement actions. The page provides a chronological listing of past enforcement cases initiated by the state, including actions against individuals and entities for alleged securities violations.

Maine Securities Enforcement Administrative Actions

The Maine Office of Securities and Investment Regulation provides a list of its current administrative enforcement actions and consent agreements. This page serves as a public record of regulatory actions taken against individuals and firms operating within the state's securities market.

Maine Securities Enforcement Administrative Orders

The State of Maine's Office of Securities Enforcement has published a list of administrative orders issued against various financial entities and individuals. These orders represent enforcement actions taken by the state regulator concerning securities and investment activities within Maine.

Maine Securities Consent Agreements and Enforcement Actions

The Maine Office of Securities has published a list of recent consent agreements and enforcement actions against financial firms and individuals. These agreements represent voluntary settlements of potential violations of securities laws.

Maine Securities Enforcement Actions and Administrative Orders

The Maine Office of Securities and Investment Regulation provides a list of its administrative orders and enforcement actions. This page serves as a central repository for these documents, including orders related to broker-dealer inspections and exemptions for private fund advisors.

Man Sentenced for Forgery and Insurance Fraud

An Illinois man has been sentenced to up to 25 years in prison for nine counts of forgery and insurance fraud in Iowa. Scott Lennington unlawfully endorsed insurance claim checks without consent, diverting funds for his own use. He received a suspended sentence, probation, fines, and must pay restitution.

Johnston Contractor Arrested for Insurance Fraud

The Iowa Insurance Division announced the arrest of Shawn Heuss, a Johnston contractor, on multiple felony charges related to insurance fraud. Heuss is accused of submitting a fraudulent invoice to his insurer for uncompleted roof repairs, receiving insurance proceeds to which he was not entitled.

Iowa Woman Charged with Insurance Fraud and Theft

The Iowa Insurance Division announced the arrest and charging of Cristal Gale Kastantin for ongoing criminal conduct, theft, and fraudulent submission related to her former employment at an insurance agency. The charges stem from alleged misuse of work funds for personal gain and submission of false insurance claim documentation.

Council Bluffs Woman Charged with Insurance Fraud

The Iowa Insurance Division announced the arrest of Shannon Marie Doty for insurance fraud. Doty is accused of submitting a fraudulent claim to her insurer after an accident, despite not having an active policy at the time.