Regulatory Alerts2021-12-03
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Bulletin 3015 - December 3, 2021
The Commissioner sets the 2022 deposit index at 0.06%, establishing interest rates for rental security deposits, state claims, mortgage escrow accounts, and public service customer deposits effective January 1, 2022. Stone Beach Investment Management, LLC agreed to pay $3,625, comprising a $2,500 administrative penalty and $1,125 in filing fees, to resolve allegations of failing to make required notice filings. LPL Financial LLC was fined $350,000 and ordered to pay an additional $150,000 for investor education initiatives after failing to enforce supervisory procedures regarding agents who misappropriated client funds.
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