On Wednesday, March 9th, FPA of Minnesota members met with Minnesota Department of Commerce Commissioner Rothman and members of his staff. FPA of MN members had a good discussion with the Commissioner that focused on the proposed Minnesota Safe Seniors Financial Protection Act. The Commissioner did a deep dive into the details of the proposed act which would put advisors at the forefront of combating elder exploitation. FPA of MN members also heard from Director of Securities Edstrom on how the Department is approaching the issuance of securities via internet crowdfunding. Finally, Asst. Commissioner Fleishhacker reported on recent enforcement actions against financial professionals who were found to have stolen funds from their clients.
It was a good discussion and the Professional Issues Committee would like to thank all the members who attended as well as Commissioner Rothman and his staff for taking time from their busy schedules to inform us on these important financial issues.