Today the Kentucky Department of Financial Institutions (DFI) issued an emergency cease and desist order against an international company called Profitable Sunrise and its operators. DFI alleges that the company's investment products and people selling them are not registered in Kentucky, and that the operators committed fraud for omitting or misrepresenting facts on the company’s website. Read DFI's press release and order.
Check out DFI's newest publication, "The Savvy Senior.pdf," and read about how to recognize investment fraud and avoid becoming a victim.
The state securities regulators from Alabama, Kentucky, Mississippi, South Carolina and Tennessee are notifying investors entitled to reimbursement from the recent Morgan Keegan settlement that their States’ Fund distribution checks will be mailed Nov. 5. A.B. Data Ltd., as the Fund Administrator, will be mailing checks to all investors who filed an approved eligible claim within the claim filing period. This will include 1,930 checks totaling $4,663,240 to Kentuckians. To learn more, read the press release
DFI will begin using the NMLS to manage licensed money transmitters starting Aug. 1. Through this system, a company can apply for, amend and renew its license conveniently and safely online. This transition is not currently required, but is highly recommended by DFI. Instructions can be found here.
The deadline for eligible claimants to file a claim to participate in the Morgan Keegan Bond Fund Claims Process is June 16, 2012; LATE FILINGS WILL NOT BE ACCEPTED. For more information, read the Letter to Claimants or visit DFI's Morgan Keegan page.
Those who wish to help the victims of the severe storm damage of March 2, can find out about donating or volunteering at http://kyem.ky.gov. Individuals in approved counties can apply for FEMA assistance at 800-621-FEMA or www.disasterassistance.gov. Suspected disaster fraud should be reported to the National Center for Disaster Fraud at 866-720-5721. Often after disasters, scams will surface that appear to be linked to charities, contractors and others. The Department of Financial Institutions reminds consumers to double check special storm damage “deals” and offers that sound too good to be true. Find out more at http://migration.kentucky.gov/newsroom/eppc_ofi/stormscam030712.htm
DFI is celebrating Kentucky Saves Week by participating in an event at the capitol on Feb. 22. Also DFI supports Military Saves Week with the “Financial Field Manual for Military Families.pdf." DFI will provide free copies of this resource to military personnel on bases and to military families.
The DFI website will be unavailable for a short period of time on Nov. 19-20 due to a scheduled electrical outage.
DFI website URL addresses have changed. Bookmarks people previously used for DFI webpages may have to be reset.