Montana State Auditor James Brown secured $72,400 for the Securities Fraud Restitution Fund through 11 enforcement settlements reached since May 2026.
The agreements involved securities issuers that failed to file required notices of business activity in Montana. The violations were filing and compliance failures, not findings that the issuers had committed securities fraud. The businesses also agreed to improve internal procedures and provide updated regulatory information.
The $72,400 was secured through 11 enforcement agreements reached since May 2026. The cases concerned issuers that failed to submit required notices of securities transactions in Montana on time.
Certain securities may be exempt from federal registration but still require a notice filing with the Montana Commissioner’s Office. Issuers must disclose information including the date and amount of a first sale within the state and commissions paid in connection with that transaction.
The negotiated settlements address compliance failures. They do not necessarily mean the companies themselves committed securities fraud against investors.
In addition to financial contributions, the agreements require the firms to review internal compliance procedures, make timely and complete filings and provide updated contact and filer information.
“Montana’s Securities Fraud Restitution Fund is a critical tool for helping victims recover from fraud,” Auditor James Brown said. He said enforcement settlements could help residents whose finances were harmed by misconduct.
Montana is one of a small number of states operating a dedicated fund to provide financial assistance to certain victims of investment fraud. Qualifying cases are handled or administered through the auditor’s Securities Division.
The fund had paid $126,081 to seven Montana victims during 2026 as of the agency’s announcement. Additional applications submitted before October 1 were under review, and the office planned recommendations for further payments.
The Commissioner of Securities and Insurance also investigates suspected unlawful investment activity. People who believe they have been harmed may contact the agency at 406-444-2040 or obtain application information through csimt.gov.
The fund assists eligible Montana residents harmed in securities fraud cases. Brown’s office said it had distributed $126,081 to seven victims during 2026. “Montana’s Securities Fraud Restitution Fund is a critical tool for helping victims recover from fraud,” Brown said. Residents can contact the Auditor’s Office at 406-444-2040.