BEFORE THE COMMISSIONER OF SECURITIES AND INSURANCE

MONTANA STATE AUDITOR

 

In the matter of the adoption of New Rule I (6.10.701), New Rule II (6.10.702), New Rule III (6.10.703), New Rule IV (6.10.705), New Rule V (6.10.706), and New Rule VI (6.10.707)  pertaining to Securities Restitution Fund

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NOTICE OF ADOPTION

 

TO:  All Concerned Persons

 

            1.  On April 12, 2012, the Office of the Commissioner of Securities and Insurance, Montana State Auditor (CSI) published MAR Notice No. 6-199 regarding the public hearing on the proposed adoption of the above-stated rules at page 672 of the 2012 Montana Administrative Register, issue number 7.

 

2.  On May 8, 2012, the Office of the Commissioner of Securities and Insurance, Montana State Auditor (CSI) held a public hearing to consider the proposed adoption of the above-stated rules.

 

            3.  One commenter at the hearing testified that the proposed rules would benefit Montana citizens without incurring any cost to Montana taxpayers because funding for the Restitution Fund would come from individuals and firms who violated the Securities Act and not the state General Fund.  There were no other comments at the hearing and no written comments were received up to the comment deadline of May 16, 2012.

 

4.  The commissioner has adopted ARM 6.10.701, 6.10.702, 6.10.703, 6.10.705, 6.10.706, and 6.10.707 exactly as proposed.

 

 

 

            /s/ Brett O'Neil                       /s/ Jesse Laslovich

            Brett O'Neil                            Jesse Laslovich

            Rule Reviewer                     Chief Legal Counsel

 

Certified to the Secretary of State May 29, 2012.