Because Montana is close to Colorado, where I live, I am more familiar with its securities laws and regulations and Montana arbitrators. Because arbitrators are from the state or region where the investor resides, my familiarity with the arbitrator roster and individual arbitrators in Montana and surrounding states is a significant benefit. And remember that I do not need to be licensed in the state of Montana in order to represent Montana investors in securities arbitrations. I don’t even need to affiliate with local counsel. I also have the benefit of the knowledge of my husband Douglas Schulz ( Invest Securities Consulting ), who has been hired in over 1,140 securities related matters and testified in over 637 FINRA arbitrations and civil cases regarding investment and brokerage disputes. Because the majority of his expert work is also in Colorado and surrounding states, he too is very familiar with Montana securities arbitrators and arbitrations.
Sometimes clients come to Stoneman Law who are still friends with the stockbroker who has caused them damage. This can make for a difficult situation, however, the protocol at Stoneman Law is to not sue the broker but rather to only sue the brokerage firm. The firm is responsible for the wrongdoing of the stockbroker under a doctrine recognized by every state in the country: Respondeat Superior or “Let the Master Answer”. The brokerage firm has the money to pay anyway whereas the stockbroker may not.
Investors in Montana are protected by legislative laws and statutes together with industry rules that prohibit brokers from engaging in fraud, unsuitable sales, churning, unauthorized trading, failure to supervise, breach of fiduciary duty, or negligence. Below are useful links and resources covering some of the investor protections available in the State of Texas:
The Montana Securities Department is in the Office of the Montana State Auditor and is the State's Regulatory Agency that is responsible for the regulation of the securities industry in Montana. It protects your investments by ensuring compliance with the Securities Act of Montana and investigate any complaints of fraud or improper practices.
The site boasts that is has over 97,000 stockbroker and investment adviser representatives registered to do business in the state of Montana.
- The Securities Act of Montana is a state law regulating the securities industry. The Act contains provisions for the registration of securities, exemptions and sanctions for violations.
- FINRA is an independent regulatory agency that regulates all broker-dealers in the United States.
- Securities and Exchange Commission (SEC) also creates and enforces the securities laws.
Stoneman Law represents investors in all major Montana cities including Billings, Missoula, Great Falls, Bozeman, Butte, Helena, Kalispell, Havre, and Anaconda. Consultations are free of charge and the firm is only compensated if you recover.Where Do FINRA Arbitrations Take Place in Montana?
All arbitrations for Montana residents take place in Helena. And remember that arbitrations take place in the state where the investor resides, NOT where the brokerage firm or stockbroker office is located!!Montana Securities News
July 5, 2017. State regulators rarely are able to recover money for investors, however, they sure try. The Montana Securities Department was successful in getting the president of a bankrupt regional restaurant group to pay more than $1.7 million in restitution to 13 investors in a Montana securities fraud case. Ken Hatzenbeller was president of Shoot the Moon LLC, which owned 11 Chili's restaurants in Montana, Idaho and eastern Washington. The company filed for bankruptcy in 2015. Everyone agreed, though, that it was unlikely that Hatzenbeller would be able to pay the restitution.