New law protects against financial exploitation

DFR’s outreach team is available to speak to your group about financial exploitation, scams and frauds that are being experienced here in Vermont.
For more information, call 802-828-4886 or 802-828-4877.

Full text of Governor Scott’s press release

DFR Deputy Helps “Green Up” Vermont

Green UpCynthia Stuart, deputy commissioner of the Banking Division, (right) is joined by other department heads "greening-up" Route 2 last Friday as part of Vermont's 47th annual Green Up Day May 5, 2017.

Vermonters receive $460,000 in restitution from LPL Financial

Michael S. Pieciak, commissioner, announced a settlement May 5, 2017, in which LPL Financial (LPL) will reimburse $460,000 to eight Vermont investors and has paid the state a penalty of about $11,000. The settlement was the result of a multi-state investigation conducted by the North American Securities Administrators Association (NASAA).

Press Release

Help is available to quit smoking

Quit SmokingReminder: Programs and aids to help Vermonters quit smoking are covered by health insurance.

Read the official bulletin.

Captive Regulations Updated

Captive Regulation UpdatedOn Monday, May 1, 2017, Gov. Phil Scott signed into law a bill updating Vermont’s captive insurance regulations. The law will make Vermont’s “gold standard” captives industry even more attractive.

Read more about Captive Regulation Update here.

$150 Million Settlement Reached to Reimburse Jay Peak and Burke Mountain Creditors

Represents largest-ever recovery for an EB-5 fraud case, and will reimburse unpaid contractors, trade creditors and investors in EB-5 projects tied to alleged fraud in Vermont’s Northeast Kingdom

Montpelier, Vt. – Governor Phil Scott, Vermont Department of Financial Regulation (VDFR) Commissioner Michael Pieciak and Jay Peak Receiver Michael Goldberg today announced a $150 million settlement agreement with financial firm Raymond James Financial, Inc., over its role in the alleged fraud relating to EB-5 projects in Vermont’s Northeast Kingdom.

The Role of State Financial Regulators

Want to learn more about state chartered regulation? Watch this short, fun video to learn more!

No Survey by DFR Banking Division

No SurveyThe Vermont Department of Financial Regulation is not conducting any surveys of any kind at this time.
We have received another report of someone conducting a telephone survey, this time claiming to represent DFR’s Banking Division. The caller was a man with an accent and caller ID shows the originating phone number as 802-325-5834.

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