Michael Pieciak named new DFR commissioner

Michael PieciakGov. Peter Shumlin has appointed Michael Pieciak commissioner of the Department of Financial Regulation. He replaces Susan Donegan who left the department last month.

DFR settles administrative enforcement with Raymond James for $5.95 million

The Department of Financial Regulation has reached a $5.95 million settlement with the securities broker-dealer firm Raymond James and Associates Inc.
Commissioner Susan L. Donegan announced today, June 30, 2016, that department conducted an investigation that revealed multiple instances of non-compliance regarding the sales of interest in the Jay Peak EB-5 projects.

Treasury Department Guide to Ransomware

The Treasury Department together with a group of U.S. intelligence and regulatory agencies have jointly released an interagency technical guidance document on how institutions can manage ransomware threats

Fraud of the Week

Receipt Fraud—North Carolina

Amount: unknown

A couple has been charged with insurance fraud and attempting to obtain property by false pretense and conspiracy; one is facing two additional counts of both insurance fraud and attempting to obtain property by false pretense. 

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