Minnesota Department of Commerce reminds regulated firms of customer obligations and investors about risks of stock price volatility

The Minnesota Department of Commerce today called on financial management firms, financial advisors and other regulated entities to ensure that investor protection obligations are being met during recent price volatility in shares of certain publicly traded companies.

“Regulated entities have an obligation to their customers. Commerce will work with fellow regulators to ensure that investor protection, fairness and transparency are upheld in the public securities markets,” said Maxwell Zappia, Commerce Deputy Commissioner of Financial Institutions. “We are closely monitoring this developing situation and will examine actions by online brokerages and others to ensure that they are in compliance with their client obligations.”

The Department of Commerce also cautioned investors about the risks associated with investing in publicly traded companies that are experiencing volatility. Investors should understand their risk tolerance when considering such investments.  

The Department of Commerce has more info more here: Investor education materials.

With You Every Day

Wherever you are in Minnesota, the Department of Commerce is with you every day. Whether you’re filling up on gas, purchasing a home, working to reduce energy consumption or rebuilding after a disaster—we are with you, no matter what.

The Minnesota Department of Commerce oversees more than 20 regulated industries, ensuring that Minnesota businesses are strong and Minnesota consumers are protected. Our mission is to protect the public interest, advocate for Minnesota consumers, ensure a strong, competitive and fair marketplace, strengthen the state’s economic future and serve as a trusted public resource for consumers and businesses. 

Contact: Mo Schriner, Director of Communications
E: mo.schriner@state.mn.us
O: 651-539-1463

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