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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
2007
December 28, 2007
Rokita helps Hoosiers fight fraud
December 19, 2007
Hoosiers help soldiers call home for holidays
Phone card donations top 194,268 minutes
December 19, 2007
Rokita completes 2007 tour of Indiana's 92 counties
December 17, 2007
OLIPHANT BROTHERS ARRESTED FOR ALLEGED SECURITIES FRAUD
Rokita’s Prosecution Assistance Unit assists Elkhart County in securities fraud investigation
December 11, 2007
One week left to donate phone cards to injured military in time for holidays
December 3, 2007
State of Indiana Files Brief in United States Supreme Court Case
November 29, 2007
Rokita spearheads phone cards collection for injured military troops
November 20, 2007
Rotating Regional Primaries Plan Discussed
November 7, 2007
MORGAN COUNTY COURT SENTENCES MARTINSVILLE RESIDENT IN INVESTMENT FRAUD CASE
November 6, 2007
Secretary of State provides 2007 Municipal Election Update, 5:30p.m.
November 6, 2007
Rokita, Phillips provide update on Tippecanoe, Wayne Counties as Vote Center Pilots
November 6, 2007
2007 Municipal Election Update
November 5, 2007
Rokita to dispatch oversight teams statewide on Election Day
November 2, 2007
Secretary of State Rokita offers last minute election reminders
November 2, 2007
Rokita, Naylor to present award to stock savy students
October 29, 2007
Editorial: Municipal Elections allow voters to fulfill civic duty
October 24, 2007
Don’t Forget! Rokita reminds voters of upcoming election
October 20, 2007
Rokita attends Northwest Indiana Hispanic Chamber of Commerce gala
October 18, 2007
Secretary of State Rokita to meet with Ripley County Clerk
October 18, 2007
Rokita to deliver election reform funds to Bartholomew County
October 15, 2007
Rokita to deliver election reform funds to Sullivan County
October 12, 2007
Secretary of State’s office collaborates for INgov road shows
October 10, 2007
Secretary of State Rokita to address 2nd Annual Money Smart Weeksm inauguration
October 9, 2007
Secretary of State Rokita discusses municipal election with Benton County officials
October 9, 2007
Secretary of State Rokita visits Newton County
October 9, 2007
Secretary of State Rokita visits Warren County
October 5, 2007
Voter Registration Deadline Less Than One Week Away
October 5, 2007
Rokita swears in new Securities Commissioner
October 2, 2007
Rokita to Host Free "Protect Your Pockets" Workshop in Indianapolis
September 27, 2007
Rokita encourages state workers to staff election polls
September 24, 2007
Matt Tusing sworn in as Deputy Secretary of State
September 20, 2007
Rokita Partners with Indiana Commission on Hispanic/Latino Affairs
September 14, 2007
Secretary of State Todd Rokita visits Valparaiso High School
September 1, 2007
Rokita announces second-term staff transitions
August 9, 2007
Secretary of State and Department of Financial Institutions Adopt Statement on Subprime Mortgage Lending
August 2, 2007
NETOLICKY ARRESTED FOR ALLEGED SECURITIES FRAUD
Rokita's Prosecution Assistance Unit assists LaPorte County in securities fraud investigation
July 27, 2007
Rokita to participate in Aspen-Rodel Fellowship Series Asian Seminar
July 27, 2007
MicroVote ordered to pay state more than $350,000 for election law violations
July 18, 2007
National Association of Secretaries of State inducts 2007-2008 Officers
Indiana Secretary of State Todd Rokita sworn in as NASS President, names new Executive Board
July 10, 2007
Rokita launches INBiz online portal for incorporating new Hoosier businesses
July 3, 2007
Rokita encourages Hoosiers to donate phone cards to wounded soldiers abroad
July 3, 2007
Secretary of State and Department of Financial Institutions Issue Consumer Alert on Mortgage Payment Increases
June 21, 2007
Rokita to participate in Aspen-Rodel Fellowship series
June 6, 2007
Rokita represents Indiana at Natural Resources Symposium in Switzerland
May 11, 2007
Rokita urges voters to report Election Day problems by calling 1-866-IN-1-VOTE
May 10, 2007
Lake County Court Sentences Resident in Investment Fraud Case
May 8, 2007
Municipal Primary Update
May 4, 2007
Rokita Takes Action against Carmel Scam Artist
May 3, 2007
Municipal Primaries Less Than One Week Away in 78 of 92 Counties
May 1, 2007
Federal Reserve Bank of Chicago, Visa Convene National Summit on Financial Education / Award-Winning Journalist and Best-Selling Author Jean Chatzky Moderates Expert Panelists, Including Indiana Secretary of State Todd Rokita
April 26, 2007
Rokita takes action against alleged mortgage fraud scheme for real estate totaling more than $1 million in Central Indiana
April 13, 2007
Rokita sponsors investor awareness workshop for Indianapolis area
April 10, 2007
Rokita takes action against alleged fraudulent investment practices for real estate totaling more than $1.4 million
April 5, 2007
Seventh Circuit Court of Appeals Again Upholds Indiana's Photo ID Law
April 5, 2007
Rokita welcomes new addition to Prosecution Assistance Unit
April 3, 2007
Indiana Secretary of State Todd Rokita announces April as Financial Literacy and Investor Awareness Month in Indiana
March 30, 2007
Rokita reminds Hoosiers of April 9th Voter Registration Deadline
March 19, 2007
Rokita announces initiatives to combat vote fraud
March 9, 2007
Indiana Secretary of State Todd Rokita joins a panel of election policy leaders at the AEI-Brookings Election Reform Project Conference
March 1, 2007
Lake County Court Sentences Resident In Investment Fraud Case
February 26, 2007
Ivy Tech Community College partners with Association for Operations Management to offer globally recognized workforce certifications
February 26, 2007
Rokita Calls for Sweeping Reforms to the Presidential Nominating Process
February 20, 2007
Rokita warns investors against slippery oil and gas deals
February 01, 2007
Former NFL & Colts Star Jack Trudeau, Indiana Secretary of State Todd Rokita, Visa Launch Statewide Rollout of Nation's First Money Management Cell Phone Game
January 04, 2007
Seventh Circuit Court of Appeals Upholds Indiana's Photo ID Law
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