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FOR IMMEDIATE RELEASE
January 23, 2012
Indiana Secretary of State Announces Major Fines Related to Ongoing ISTA Litigation
Morgan Stanley will pay in excess of $200,000 to Indiana securities division for violations related to the Indiana State Teachers Association’s financial troubles
INDIANAPOLIS (January 23, 2012) – Indiana Secretary of State Jerold A. Bonnet today announced that Securities Commissioner, Chris Naylor, has signed and approved an agreement in which Morgan Stanley & Co. LLC (Morgan Stanley) shall submit to a fine of $100,000 and pay $110,000 in investigative costs to the securities division in order to settle the Commissioner’s claims that Morgan Stanley charged excessive fees to the Indiana State Teachers Association (ISTA) Insurance Trust. By entering into a consent decree, Morgan Stanley neither admits nor denies the Commissioner’s allegations.
This resolution with the Securities Commissioner follows a settlement ISTA reached directly with Morgan Stanley after ISTA had filed a lawsuit against Morgan Stanley in 2009, which resolved issues of excessive compensation by Morgan Stanley. Claims by ISTA against other entities are still pending.
“We’re glad to see a resolution to another piece of the allegations into violations of Indiana securities laws related to ISTA and those it did business with,” White said. “We will continue to do everything we can to ensure that the largest possible percentage of the losses is returned to the schools, which are the real victims in this case.”
The Securities Division is currently involved in litigation regarding suitability of investments with Morgan Stanley agent and investment adviser, David Karandos, with an administrative hearing scheduled to begin on January 24th. The actions giving rise to the administrative litigation occurred while David Karandos was associated with UBS. The Securities Division’s lawsuit against ISTA for selling an unregistered security is scheduled for Trial, to begin on October 1, 2012.
The ISTA Insurance Trust’s current trustees have adopted a resolution that any settlement funds earmarked for ISTA relief will be held pending the outcome of what they refer to as the Naylor litigation in the Marion Superior Court, as well as the actions taken by the securities division. ISTA and the Securities Commissioner have also agreed that ISTA relief funds shall be held by the ISTA Trust and not used for ISTA general purposes, while the parties work to properly designate the distribution of the relief funds. In the event a more formal method of securing these funds for a longer term can not be reached by agreement, the Division expects to seek the court’s assistance to secure the funds pending the outcome of the federal court matter.
Link to ISTA on our website:
http://www.in.gov/sos/securities/3738.htm
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Media Contact: AJ Feeney-Ruiz, 317-233-8655, aj@sos.in.gov
AJ Feeney-Ruiz
Communications Director
Indiana Secretary of State Jerold A. Bonnet
200 W. Washington St.
Indianapolis, IN 46204
Office: 317-233-8655
Cell: 317-730-4778
aj@sos.in.gov
January 10, 2012
Election Season Begins Wednesday with Start of Candidate Filings
Secretary of State outlines procedures and deadlines for those seeking to be on the state’s May Primary Election ballot.
INDIANAPOLIS (January 10, 2012) – Indiana’s 2012 election season officially opens Wednesday with the commencement of filings for candidates seeking to be placed on the May 8, 2012 Primary Election ballot. Indiana Secretary of State Jerold A. Bonnet and the state’s Election Division will begin accepting candidate filings in Indianapolis at 8:30AM (EST) Wednesday, January 11, 2012. The Primary Election is open to Individuals seeking to become the Democratic or Republican Party candidates in November, 2012 for offices including President of the United States, Governor, U.S. Senator, U.S House of Representatives, Indiana General Assembly Senators and Representatives and county judges.
Four years ago, 540 total candidates filed paperwork needed to run for office including six candidates for U.S. President, three for Governor, 44 for U.S. Representative, 69 for State Senate, 194 for State Representative, 51 for Circuit Court Judge, 169 for Superior Court Judge and four for County Court Judge.
Only candidates seeking to represent the Democratic and Republican Party in the November General Election run in Indiana’s Primary Election. Candidates intending to represent the Libertarian Party, independent and minor party candidates, and write-in candidates, for the November election must meet specific qualification requirements and file their declaration of candidacy with the Election Division at various deadlines no later than July 16, 2012. Candidates for Lt. Governor, Attorney General and Superintendent of Public Instruction do not run in the Primary Election, but are instead, nominated by their political parties at caucus meetings.
The deadline for filing declarations of candidacy and verified petition signatures, if required, for Indiana’s May Primary is 12:00 Noon (EST) Friday, February 10, 2012. Though some Indiana counties observe Central Standard Time, the filing deadline is governed by Indianapolis local time. Official filing stamp clocks are synchronized with the U.S. Naval Observatory time clock in Washington, D.C. Both the Office of the Indiana Secretary of State and the Election Division will be closed on Monday, January 16, 2012 in observance of Martin Luther King Jr. Day and will not process filings.
Declarations of candidacy and petition signatures, if required, can be filed at the Indiana Election Division office on the second floor of the Indiana Government Center South Building (302 W. Washington Street, Room E 204) or at the Secretary of State’s office in the Indiana Statehouse (Room 201). Details including qualifications for becoming a candidate, filing forms, the official election calendar and contact information for the Indiana Election Division is available on the Web at: http://www.in.gov/sos/elections/ and for candidates at http://www.in.gov/sos/elections/files/2012CandidateGuide.pdf.
Candidates for different offices face varied requirements ranging from submitting certified signatures gathered in each of Indiana’s nine congressional districts for candidates running for U.S. President, U.S. Senate or Governor to statements of economic interest obtained from either the state’s house or senate chambers for their respective candidates, and from the State Court Administration for judge. There are no fees for filing to become a candidate for any elected position in Indiana.
Media Contact: AJ Feeney-Ruiz, 317-233-8655, aj@sos.in.gov
AJ Feeney-Ruiz
Deputy Chief of Staff
Communications Director
Indiana Secretary of State Jerold A. Bonnet
200 W. Washington St.
Indianapolis, IN 46204
Office: 317-233-8655
Cell: 317-730-4778aj@sos.in.gov
2008
December 23, 2008
Indiana Secretary of State's Office Collects and Donates Toys for Afghan Children
December 18, 2008
Indiana Secretary of State Todd Rokita Honored as 2008 Indianapolis Choice Award Winner by the National Association of Women Business Owners Indianapolis Chapter
December 10, 2008
Indiana's Presidential Electors to Formally Elect President and Vice President Monday
December 7, 2008
Recount Concluded in Indiana House District 26
December 4, 2008
Indiana Recount Commission to Meet Sunday to Conduct House District 26 Recount ** Please note the following update: The Indiana Recount Commission will now meet Sunday, December 7th, 2008, at Noon in the Tippecanoe Room on the first floor of the Tippecanoe County Office Building, 20 North 3rd Street, in Lafayette.
December 3, 2008
Indiana Secretary of State Todd Rokita Warns Businesses to Ignore Deceptive Letter
November 25, 2008
Official Turnout and Absentee Balloting Data Confirm Record-Breaking Election in Indiana
November 25, 2008
2008 General Election Turnout and Registration Report
November 20, 2008
Man Charged With Loan Broker Fraud
October 31, 2008
Indiana Secretary of State Todd Rokita Wants Voters to Develop a Personal Action Plan for Election Day
October 28, 2008
Indiana Secretary of State Todd Rokita Releases Comprehensive Report on Indiana's Preparedness for the November 4 Election
October 10, 2008 Video
Indiana Secretary of State Todd Rokita Addresses Voter Fraud in Lake County with FOX News
October 9, 2008
Indiana Secretary of State Todd Rokita Reports on Statewide Voter File and Process for Verifying Voter Registrations
October 2, 2008
Indiana Secretary of State Todd Rokita Continues Middle East Election Oversight Trip with Visit to Afghanistan
Sept. 30, 2008
Rokita Visits Hoosiers on the Front Lines in Iraq to Encourage Military Voting
August 27, 2008
New and Updated Indiana Voter Registrations Surpass 500,000 in 2008
August 20, 2008
Rokita Urges Hoosiers Overseas to Prepare Now for the Upcoming Election
August 6, 2008
Indiana Secretary of State Todd Rokita Announces Final Compliance with Loan Broker Requirements along with Enforcement Plan to Stop Unlicensed Loan Brokers
July 30, 2008
Secretary Rokita's Testimony to the US Senate Committee on Rules and Administration.
July 24, 2008
Marion County Man Arrested on 36 Felony Counts in Ponzi Scheme
July 15, 2008
Secretary Rokita Applauds Grand Jury Indictments in Cemetery Fraud Case
July 14, 2008
Unlicensed Mortgage Broker Sentenced to 11 Years for Felony Mortgage Fraud
July 7, 2008
More than 2/3 of Indiana's Mortgage Brokers will have Licenses Revoked Under New Law
June 20, 2008
Secretary of State Statement on New Photo ID Lawsuit
June 17, 2008
Rokita Advises the Federal Election Assistance Commission on Reform Issues
May 29, 2008
Bloomington Attorney Charged in Securities Scam
May 27, 2008
Secretary of State Earns International Award for Streamlined Online Business Services
May 22, 2008
Rokita Leads National Delegation to Taiwanese Presidential Inauguration
May 13, 2008
Provisional Ballots Deadline Nears
Rokita reminds Hoosiers to return to County Election Board
May 8, 2008
Indiana Secretary of State Todd Rokita's office enters into election integrity grant with the Ball State University Bowen Center for Public Affairs
May 7, 2008
2008 Post Election Update
May 5, 2008
2008 Primary Election Readiness Briefing
April 28, 2008
U.S. Supreme Court Upholds Indiana's Voter ID Law
April 25, 2008
April 28th Absentee by Mail Deadline Quickly Approaching
April 10, 2008
Voter Registration Numbers Increase by the Thousands
More than 4,260,000 registered voters in Indiana
April 8, 2008
Secretary Rokita Delivers Final Package of phone cards to Troops at Landstuhl Regional Medical Center
Hoosiers have donated more than 408,000 minutes since collection first began
April 4, 2008
State Enforces Action against Errant Voting System Vendor
Secretary of State Todd Rokita moves to collect fines and fees totaling more than $360,000.00
March 31, 2008
April 7th Voter Registration Deadline Quickly Approaching
Rokita Urges Hoosiers to register in time to participate in the Primary election
March 27, 2008
Rokita Announces Cass County as Third Vote Center Pilot County
County to Save Nearly Half Million Taxpayer Dollars
March 24, 2008
Indianapolis resident sentenced for Mortgage and Securities Fraud Scheme
Sentenced to 11 ½ years prison in Indiana Department of Correction
March 6, 2008
Vote Center Concept Offers Property Tax Savings and Convenience
March 6, 2008
Rokita offers Information Assistance for Special Election
February 27, 2008
Unraveling the knot: Free 'Money Skills for Newlywed Couples' Guide available
February 27, 2008
Griffith students meet IN Secretary of State
February 25, 2008
Secretary of State Rokita shines spotlight on fraud prevention during ‘America Saves Week'
February 25, 2008
IN Election Division Co-Director Brad King elected to national board
February 22, 2008
Rokita Closes Election Filings
February 20, 2008
Indiana Man Guilty of Massive Mortgage Fraud
Scheme targeted seniors in Central Indiana
February 20, 2008
Protect Wealth through Fraud Prevention
February 12, 2008
Rokita presides over NASS Conference
Report Urges Adoption of Rotating Regional Presidential Primaries
February 8, 2008
Token of love? Pre-paid domestic phone cards
January 30, 2008
Vote Centers legislation passes Senate
January 23, 2008
Rokita updates Indiana CPAs during annual statehouse program
January 17, 2008
Rokita Pursues $27M Cemetery Fraudster
New Jersey resident Nelms Finally Trapped After Multi-state Scheme
January 16, 2008
Vote Centers legislation passes Senate Committee 7-3
January 11, 2008
Rokita hosts "Casholutions" workshop for downtown employees
January 10, 2008
Our Sacred Civic Transaction Deserves Protection Too
January 9, 2008
On the Steps of the US Supreme Court Building
January 7, 2008
WEDNESDAY: Voter ID Election Law at Supreme Court
January 7, 2008
INDIANA'S PHOTO ID LAW: Background information
January 2008
Question and Answers regarding the vacancy in Indiana's Seventh Congressional District
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