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The Corporations, Securities and Land Development Bureau's security functions and all functions of the Insurance Bureau and Financial Institutions Bureau were transferred to the office. [ 3 ] In 2003, Governor Granholm issued an executive order renaming the department to the "Department of Labor and Economic Growth."
On January 17, 2013, Governor Rick Snyder ordered that the Office of Financial and Insurance Regulation (OFIR) be transfer out of the Michigan Department of Licensing and Regulatory Affairs to form a new principal department, the Michigan Department of Insurance and Financial Services, effective March 19, 2013. [3]
The Consumer Financial Protection Bureau (CFPB) is an independent agency of the United States government responsible for consumer protection in the financial sector.CFPB's jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors, for-profit colleges, and other financial companies operating in the ...
The portal has become an increasingly popular tool since it was launched in 2012, with the number of complaints submitted through it rising from a few hundred thousand each year to 2.7 million in ...
The Private Securities Litigation Reform Act of 1995, Pub. L. 104–67 (text), 109 Stat. 737 (codified as amended in scattered sections of 15 U.S.C.) ("PSLRA") implemented several substantive changes in the United States that have affected certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation, and awards fees ...
When it comes to regulating the financial system of the United States, two prominent entities often come into the spotlight: FINRA and the SEC. While the former is responsible for overseeing the ...
A securities class action (SCA), or securities fraud class action, is a lawsuit filed by investors who bought or sold a company's publicly traded securities within a specific period of time (known as a “class period”) and suffered economic injury as a result of violations of the securities laws.
The Legal Division serves as in-house legal counsel for all of the department's programs and also regulates the offer and sale of securities and franchises. Consumer Services. The Consumer Services Office is the main point of contact for Californians filing a complaint with the department or requesting additional information about licensees.