Lindeen reaches agreement with Hancock Securities Group, LLC
Montana Commissioner of Securities and Insurance Monica J. Lindeen recently reached a settlement agreement with Hancock Securities Group, LLC, a Missouri based stock brokerage firm.
In the Consent Agreement and Order, Hancock Securities has agreed to waive all transaction fees for its current Montana customers for a three-year period. The settlement agreement was the result of Hancock Securities transacting business with Montana investors while not properly licensed to do so. Additionally, the firm also agreed to pay a $5,000 fine which will be deposited to the state’s general fund.
“Montana’s citizens should be able to feel their investments are safe and the securities business they are transacting is with a reputable, licensed firm.” said Lindeen. “My office will take appropriate action to ensure firms and brokers do not benefit from doing business with Montana citizens without first complying with the law.”