• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Digital News Updates
  • Home
  • News
  • Politics
  • Business

North Dakota Unifies Insurance and Securities Departments

July 2, 2025

In a move aimed at modernizing oversight and strengthening consumer protections, North Dakota Insurance Commissioner Jon Godfread announced today the official unification of the state’s Insurance and Securities departments. The merger, made possible through the passage of Senate Bill 2214 during the 2025 legislative session, consolidates regulatory authority under a single agency led by the insurance commissioner.

The landmark reform will streamline oversight of two of the most complex areas of the financial services industry—insurance and securities—enhancing the state’s ability to detect fraud, enforce compliance, and provide critical consumer education.

“This is a milestone moment for North Dakota,” said Godfread. “Bringing these two regulatory functions together under one roof allows us to better protect consumers, strengthen our oversight capabilities, and modernize how we serve the people and businesses of our state.”

Under the legislation, Godfread now also serves as the state’s Securities Commissioner, allowing for more unified and efficient regulation of the financial sector. Previously, the North Dakota Insurance Department and North Dakota Securities Department operated as separate entities, despite their shared mission to protect consumers and promote market integrity.

The newly combined department will continue all core functions—including fraud investigations, professional licensing, compliance enforcement, and consumer outreach—but with expanded capacity and coordination between divisions. Officials say the change will improve responsiveness to evolving financial threats and trends.

To support the agency’s broader mission, several key leadership appointments have been made:

  • John Arnold, formerly Deputy Insurance Commissioner, will now oversee all regulatory operations across the agency.
  • Matt Fischer, who served as Company Licensing Division Director and Chief Examiner, has been named Chief Director of Insurance Regulation.
  • Cody Schmidt, a veteran examiner and investigator with the Securities Department, will serve as Chief Director of Securities Regulation.

“Insurance and investment decisions are among the most important financial choices people make,” Godfread said. “With this merger, we’re not only aligning regulatory expertise, we’re creating a smarter, more effective agency that’s ready to meet the challenges of a rapidly evolving market.”

North Dakotans can continue to access services and resources at Insurance.ND.gov and Securities.ND.gov, with updates to reflect the agency’s new structure rolling out over the coming months.

in Major Consumer Protection Overhaul

Bismarck, ND — In a move aimed at modernizing oversight and strengthening consumer protections, North Dakota Insurance Commissioner Jon Godfread announced today the official unification of the state’s Insurance and Securities departments. The merger, made possible through the passage of Senate Bill 2214 during the 2025 legislative session, consolidates regulatory authority under a single agency led by the insurance commissioner.

The landmark reform will streamline oversight of two of the most complex areas of the financial services industry—insurance and securities—enhancing the state’s ability to detect fraud, enforce compliance, and provide critical consumer education.

“This is a milestone moment for North Dakota,” said Godfread. “Bringing these two regulatory functions together under one roof allows us to better protect consumers, strengthen our oversight capabilities, and modernize how we serve the people and businesses of our state.”

Under the legislation, Godfread now also serves as the state’s Securities Commissioner, allowing for more unified and efficient regulation of the financial sector. Previously, the North Dakota Insurance Department and North Dakota Securities Department operated as separate entities, despite their shared mission to protect consumers and promote market integrity.

The newly combined department will continue all core functions—including fraud investigations, professional licensing, compliance enforcement, and consumer outreach—but with expanded capacity and coordination between divisions. Officials say the change will improve responsiveness to evolving financial threats and trends.

To support the agency’s broader mission, several key leadership appointments have been made:

  • John Arnold, formerly Deputy Insurance Commissioner, will now oversee all regulatory operations across the agency.
  • Matt Fischer, who served as Company Licensing Division Director and Chief Examiner, has been named Chief Director of Insurance Regulation.
  • Cody Schmidt, a veteran examiner and investigator with the Securities Department, will serve as Chief Director of Securities Regulation.

“Insurance and investment decisions are among the most important financial choices people make,” Godfread said. “With this merger, we’re not only aligning regulatory expertise, we’re creating a smarter, more effective agency that’s ready to meet the challenges of a rapidly evolving market.”

By: DNU staff

Filed Under: News

Related Articles:

  • North Dakota to Celebrate Grand Opening of Theodore Roosevelt Presidential Library
  • UM Cadaver Lab Project Extends Learning Long After Death
  • Governor’s Emergency Funds Approved to Aid ICE in Transporting Dangerous Illegal Aliens
  • Commerce Awards Nearly $500,000 to Boost Rural Economic Growth in Montana
  • President Trump Signs Senator Sheehy’s Aerial Firefighting Bill Into Law
  • Montana State Auditor James Brown Applauds $1.7 Million Land Board Allocation to Support Public Schools

Primary Sidebar

Digital News Updates Logo

Recent News Posts

  • North Dakota Unifies Insurance and Securities Departments
  • Montana State Auditor Warns Public About Rising Cryptocurrency Scams
  • DEQ to Host Public Meeting on Gallatin River Water Quality Study
  • Zinke Announces $4 Million Grant to Expand Apprenticeship Programs in Montana

Recent Politics Posts

  • Senators Sheehy, Daines Applaud Senate Passage of “One, Big, Beautiful Bill”
  • Gianforte Praises Supreme Court Ruling
  • Zinke Urges Interior Secretary to Act on Projected Low Flathead Lake Levels
  • Senator Daines Leads Bipartisan Push to Celebrate “Great Outdoors Month”

Recent Business Posts

  • Bridger Aerospace Welcomes Executive Order to Reshape Wildland Firefighting
  • Gianforte Appoints Marta Bertoglio as Department of Commerce Director
  • Daktronics to Announce Q4 and Fiscal 2025 Results on June 25
  • Performance Engineering Earns National Honors

Copyright © 2025 Digital News Updates, All Rights Reserved.