The Iowa Insurance Division brings enforcement actions against individuals or entities  related to violations of Iowa statutes or rules.  These actions are typically initiated by filing a Statement of Charges or Notice of Hearing and may result in an enforcement order against a producer or entity.  If a statement of charges has been filed against you or for more information regarding contested cases, click here.

Non-compliance cases are license disciplinary actions referred to the Iowa Insurance Division by other state agencies including the Iowa Department of Revenue and the Iowa Department of Human Resources.

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Name Case Number Enforcement Date Subject Entity Order
Siebring Export Inc

Albion IA

Allegation: Sale of unregistered securities by an unregistered agent

Resolution: Cease and desist the offer or sale of unregistered non-exempt securities in Iowa

Date of Order/Settlement: 2004-05-03 00:00:00

Siebring, Gordon

Albion IA

Allegation: Sale of unregistered non exempt securities by an unregistered agent

Resolution: Cease and desist the offer or sale of unregistered and non-exempt securities in Iowa

Date of Order/Settlement: 2004-05-03 00:00:00

Extraordinary Films aka Extraordinary Media Group Ltd April 27, 2004 Securities Unlicensed

 

San Diego CA Beverly Hills CA Chula Vista CA Allegation: Selling unregistered securities Resolution: Order: Cease and desist the offer or sale of unregistered securities Date of Order/Settlement: 2004-04-27

 

Stevens, Mike 58018

Eagle Grove IA

Allegation: Acting as unregistered securities agent

Resolution: Order: Cease and desist acting as a securities agent without registration.

Date of Order/Settlement: 2004-04-20 00:00:00

Bates, David 58019

Barnum IA

Allegation: Acting as unregistered securities agent

Resolution: Order: Cease and desist acting as a securities agent without registration.

Date of Order/Settlement: 2004-04-20 00:00:00

Hifilez Inc

Eagle Grove IA

Allegation: Shares of stock offered by Hifilez are not registered as securities in Iowa.

Resolution: Order: Cease and Desist the offer or sale of unregistered and non-exempt securities in Iowa.

Date of Order/Settlement: 2004-04-20 00:00:00

Lavin, Larry

Milford IA

Allegation: Violation of previous order

Resolution: Consent Signed: Insurance license permanently revoked.

Date of Order/Settlement: 2004-04-08 00:00:00

Bahls, David R. 58483

Elkader IA

Allegation: Criminal record

Resolution: Consent signed: 2 yrs probation; report any criminal prosecution within 30 days.

Date of Order/Settlement: 2004-04-05 00:00:00

Lorenzen, Monte 59063

Panora IA

Allegation: Sale of unregistered securities/viatical settlement contracts; unregistered securities agent; fraudulent securities practices; misrepresentation of material facts; unsuitable sales; advertising violations;violation of prior order and consent to order.

Resolution: Consent signed: Cease any offers & all sales of insurance products on 5/1/04; surrender Iowa insurance producer license 5/30/04; permanently barred from reapplying for Iowa insurance license & securities license; cease & desist; Pay $1000 Costs

Date of Order/Settlement: 2004-04-01 00:00:00

OConnor Jr., Jerome J.

Omaha NE

Allegation: Failure to comply with previous order

Resolution: Consent Signed: Agreed to continue suspension of non resident license pending compliance with previous order

Date of Order/Settlement: 2004-04-01 00:00:00

Engels, Constance D. 58476

Marble Rock IA

Allegation: Unsuitable sales

Resolution: Consent signed: 2 yrs probation; $500 F; document suitability for all new and replacement life insurance and annuity sales

Date of Order/Settlement: 2004-04-02 00:00:00

Laurence, Larry D. 58062

Pt. Richmond CA

Allegation: Failure to report other states actions; failure to timely respond to Divisions inquiry.

Resolution: Consent: Pay $200 Fine and $100 Costs; comply with the reporting requirements and fully comply with requests for information from the Division.

Date of Order/Settlement: 2004-03-30 00:00:00

Halsband, Emily J.

Clive IA

Allegation: Conviction of two class "C" felonies

Resolution: Consent signed: Iowa insurance license revoked permanently; barred from reapplying for a securities license in Iowa

Date of Order/Settlement: 2004-03-31 00:00:00

Sensor, Edward L.

Sterling IL

Allegation: Unlicensed insurance producer; twisting; misrepresentations;suitability; personal loan; lack of character and competence;

Resolution: Cease and Desist Order: the offer or sale of unregistered securities; lending or borrowing money or securities from an unrelated customer; making untrue statements of material facts; omission of material facts; $5000 Fine.

Date of Order/Settlement: 2004-03-30 00:00:00

Credit Suisse First Boston LLC 59096

New York NY

Allegation: Failure to supervise; Conflicts of interest between banking and analyst functions

Resolution: Consent Order: without admitting or denying allegations to Cease and Desist; Pay $750000 Fine

Date of Order/Settlement: 2004-03-30 00:00:00

Evanovich, Roy A.

Washington IA

Allegation: Violation of law regulation or order of the commissioner; misappropriation; unfair insurance trade practices; failure to cooperate in investigation.

Resolution: Consent signed: Insurance license revoked; Pay $2500 Costs

Date of Order/Settlement: 2004-03-23 00:00:00

Wilkin, Walter W. 59061

Fairbank IA

Allegation: Misrepresenting terms of a proposed insurance contract; forgery and executing insurance transactions without authority; failure to cooperate with Division investigation; twisting; unadmitted replacement.

Resolution: Order: Iowa insurance producer license revoked permanently.

Date of Order/Settlement: 2004-03-22 00:00:00

Gibson, Roderick P. 58624

Helotes TX

Allegation: Providing incorrect or incomplete information on application for licensure; Revocation of insurance license by another state; Failure to notify Division of prior actions

Resolution: Order: Iowa insurance license permanently revoked

Date of Order/Settlement: 2004-03-22 00:00:00

UBS Securities LLC 59074

Stamford CT

Allegation: "Investment banking interests" influenced the firms research; published exaggerated or unwarranted research; failed to adequately supervise its research and banking departments.

Resolution: Consent Cease and desist without admitting or denying allegations; Pay $250000 Fine

Date of Order/Settlement: 2004-03-19 00:00:00

Healey, James J. 58474

Dubuque IA

Allegation: Sold unregistered securities without securities license.

Resolution: Consent signed: Cease and desist the offer or sale of securities without securities license; 2 year probation; pay $2000 civil penalty and costs;

Date of Order/Settlement: 2004-03-17 00:00:00

Rose, Noel S.

Yuma AZ

Allegation: Failure to notify of revocation of license in two states

Resolution: Order: Permanent license revocation

Date of Order/Settlement: 2004-03-15 00:00:00

Urista, Jason C.

Columbia Heights MN

Allegation: Failure to disclose prior criminal history

Resolution: Order: Revocation of Iowa Insurance License

Date of Order/Settlement: 2004-03-15 00:00:00

Revland, Markis K. 59062

Arnolds Park IA

Allegation: Failure to notify Iowa Ins. Division of other states prior actions

Resolution: Order: Iowa Insurance license permanently revoked; Pay $5000 Fine; $500 Costs.

Date of Order/Settlement: 2004-03-11 00:00:00

IOA Re Inc 59069

Plymouth Meeting PA

Allegation: Failure to have third party administrator bond in force.

Resolution: Consent signed: Certificate of Registration to act as a third-party administrator in Iowa is suspended until another surety bond is obtained and payment of $250 Costs

Date of Order/Settlement: 2004-03-08 00:00:00

Sell, Steven J. 58419

Omaha NE

Allegation: Forgery of signature on a transfer document

Resolution: Consent Signed: Cease & desist from violation of IA insurance or securities laws; 2 yr probation; 2 yr supervision and review; pay $1000 Fine and $250 Costs

Date of Order/Settlement: 2004-02-27 00:00:00

Evanovich, Roy 58420

Washington IA

Allegation: Unregistered securities agent; offer to sell and sold unregistered securities; fraudulent practices.

Resolution: Order: Cease & desist offering or selling any security in this state unless the security is registered or exempt; Cease & desist transacting business as a securities agent in this state; Cease & desist engaging in fraudulent practices

Date of Order/Settlement: 2004-02-26 00:00:00

Lavin, Larry 58472

Milford IA

Allegation: Violation of previous order

Resolution: License suspended

Date of Order/Settlement: 2004-02-26 00:00:00

Segal, Michael 58423

Chicago IL

Allegation: Failure to report administrative actions within 30 days of conclusion of such matters

Resolution: Consent signed: Agrees to immediate suspension of license until underlying federal charges are resolved; upon resolution may petition to lift suspension; Cease and Desist any insurance activity in Iowa.

Date of Order/Settlement: 2004-02-18 00:00:00

Riley, Derrick L. 58469

Waterloo IA

Allegation: Criminal convictions

Resolution: Consent signed: 1 year probation from date license issued; Agrees to report any administration action within 30 days of final disposition; Agrees to report any criminal prosecution within 30 days of initial pretrial conference; Submit quarterly reports.

Date of Order/Settlement: 2004-02-18 00:00:00

Morgan Stanley & Co Inc 58417

New York NY

Allegation: Failed to exercise supervision over associated persons created or maintained inappropriate influences by investment banking over research analysts violated NASD and NYSE ethical standards.

Resolution: Consent: cease and desist without admitting or denying findings of fact or conclusions of law; pay $250000 Fine

Date of Order/Settlement: 2004-02-17 00:00:00

U. S. Bancorp 58411

Minneapolis MN

Allegation: Inappropriate influence by investment banking over research analysts; failed to establish and enforce written supervisory procedures to prevent undue influence

Resolution: Consent Order: without admitting or denying allegations consented to cease and desist and pay $125000 Fine

Date of Order/Settlement: 2004-02-16 00:00:00

Citigroup Global Markets Inc 58412

New York NY

Allegation: Business practices allowed investment bankers inqppropriate influence over research analysts; allowed spinning inaccurate records as to IPO distributions

Resolution: Consent to order without admitting or denying; pay $1500000 Fine

Date of Order/Settlement: 2004-02-16 00:00:00

Lehman Brothers Inc 58416

New York NY

Allegation: Failed to exercise supervision over its associated persons; created or maintained inappropriate influences by investment banking over research analysts violated NASD and NYSE ethical standards

Resolution: Consent: Cease and desist without admitting or denying the allegations; Pay $250000 Fine

Date of Order/Settlement: 2004-02-12 00:00:00

Murphy, Michael S. 59073

Elizabeth City NC

Allegation: Violations of Iowa uniform Securities Act: Misrepresentations; Omissions

Resolution: Order: Cease and Desist making untrue statements of material facts in the offer or sale of securities; from omitting misleading material facts; assessed $10000 civil penalty.

Date of Order/Settlement: 2004-02-12 00:00:00

Bear Stearns & Co Inc 58415

New York NY

Allegation: Failed to reasonably supervise its employees to ensure that its analysts were adequately insulated from pressures and influences from covered companies and investment banking.

Resolution: Consent: without admitting or denying pay $250000 Fine.

Date of Order/Settlement: 2004-02-11 00:00:00

Opheim, James H. 58418

Spencer IA

Allegation: Completed life applications without the proposed insureds knowledge; allowed third party to sign the applicants names without authorization.

Resolution: Consent signed: 1 yr probation; Pay $750 Fine; Pay $250 Costs; Cease and desist from allegations; report administrative actions within 30 days to the Ins. Div.

Date of Order/Settlement: 2004-02-10 00:00:00

Ronnfeldt, Gary B. 58627

Miles IA

Allegation: Misappropriation of premiums; converted funds to personal use

Resolution: Consent signed: License permanently revoked.

Date of Order/Settlement: 2004-02-06 00:00:00

Strohmeier, Gretchen A. 59071

Springboro OH

Allegation: Selling annuity insurance policies in Iowa without a license in December 1994 and February 1995.

Resolution: Consent signed: Pay $1100 Fine; Have active nonresident Iowa license before selling in Iowa; Report any administrative action taken within 30 days.

Date of Order/Settlement: 2004-02-05 00:00:00

J.P. Morgan Securities Inc 58414

New York NY

Allegation: Failed to establish an enforce written supervisory procedures; made payments to other broker/dealers for research and failing to disclose said payments.

Resolution: Consent without admitting or denying allegations; Pay $250000 Fine

Date of Order/Settlement: 2004-01-30 00:00:00

Goldman Sachs & Co 58413

New York NY

Allegation: Failure to adequately supervise companies and investment banking staff.

Resolution: Consent: without admitting or denying cease and desist and pay $250000 Fine

Date of Order/Settlement: 2004-01-30 00:00:00

Andrews, Edgar Lee 58409

Des Moines IA

Allegation: Unregistered securities agents; Selling unregistered securities;

Resolution: Order: Cease & Desist the offer or sale of unregistered securities; cease & desist acting as agents without registration; shall not employ unregistered agents; shall not make untrue statements of material facts in the offer or sale of securities.

Date of Order/Settlement: 2004-01-21 00:00:00

Ober, Dennis J. 59048

Des Moines IA

Allegation: Sale of unregistered securities and/or business opportunities

Resolution: Consent signed: License probation until 7/1/07; repay all commissions and/or finders fees of $41940; Pay $1000 Costs; sell only approved insurance and securities products.

Date of Order/Settlement: 2004-01-08 00:00:00

Middleton, Denyce

Waterloo IA

Allegation: Criminal action prior to licensure

Resolution: Consent signed: Probationary license issued 1 year probation subject to supervision; issue quarterly reports to Division regarding work

Date of Order/Settlement: 2004-01-08 00:00:00

Revland, Markis K. 59314

Arnolds Park IA

Allegation: Failure to comply with previous order and failure to respond to Division inquiry

Resolution: License suspended

Date of Order/Settlement: 2004-01-07 00:00:00

Madyun, Naim H. 58939

Des Moines IA

Allegation: Failure to satisfy bail bond judgments; took premium but failed to post bond.

Resolution: Affirmed Order: License suspended indefinitely.

Date of Order/Settlement: 2004-01-05 00:00:00

Heese, Daniel C. 58837

Council Bluffs IA

Allegation: Sale of unregistered securities; not licensed to sell securities; Incorrect information on application;

Resolution: Order signed: Cease and Desist from violations of Iowa securities law and rule; License revoked permanently; Pay $10000 Civil Penalty; Pay $500 Costs

Date of Order/Settlement: 2003-12-15 00:00:00

Jennings, Geoffrey A. 59329

Council Bluffs IA

Allegation: Sold unregistered securities or business opportunities without proper licensure; failed to disclose criminal actions; violation of 18 U.S.C. section 1033; misappropriating funds or borrowing from clients after representing he was not.

Resolution: Order 9/15/03: License suspended; cease and desist from doing any insurance business in Iowa. Order dated 12/5/03: License permanently revoked; Cease and desist from offer and sale of unregistered securities and without proper securities license.

Date of Order/Settlement: 2003-12-05 00:00:00

OConnor Jr., Jerome J. 58743

Omaha NE

Allegation: Failure to notify the Iowa Insurance Division of prior administrative actions 2/26/04 Failure to pay fine.

Resolution: Consent signed: 1 year license probation; Pay $750 civil penalty; report any administrative action taken against him within 30 days of final disposition 2/26/04; License suspended.

Date of Order/Settlement: 2003-12-04 00:00:00

Frey, Terry G. 59337

Cedar Rapids IA

Allegation: Failure to comply with Order and Consent to Order to surrender license

Resolution: Order: license suspended pending resolution of administrative action

Date of Order/Settlement: 2003-12-03 00:00:00

Mutual of Omaha Insurance Company 59345

Omaha NE

Allegation: Failure to comply with requirements of external review procedure

Resolution: Consent signed: Pay $500 Fine

Date of Order/Settlement: 2003-11-26 00:00:00