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DISB Available to Assist Investors During Shutdown

Friday, January 25, 2019

Washington, DCThe District of Columbia Department of Insurance, Securities and Banking (DISB) today reminded investors in the District that it is operational during the partial shutdown of the federal government.

“DISB is unaffected by the partial shutdown of the federal government” said the Department’s Commissioner Stephen C. Taylor. “We are available to field investor complaints or answer questions regarding small business capital formation.”

The federal Securities and Exchange Commission (SEC) has operated on a limited basis since December 28, 2018 due to the partial closure of the federal government caused by a lapse in appropriations. According to the SEC’s website, the agency is operating with a “very limited” number of staff but does have staffing available in Washington, DC and its district offices to respond to “emergency situations involving market integrity and investor protection, including law enforcement.”

“State and federal securities regulators share the same mission to protect investors and the integrity of our financial markets,” Taylor said. “DISB is on the beat carrying out this mission and we stand ready to provide whatever assistance we can to investors. Our important work continues, and we are also happy to assist the SEC while it operates with limited staffing as a result of the partial federal government shutdown.”

To learn more about the role of state securities regulators and how they have protected investors for the past 100 years, visit the website of the North American Securities Administrators Association, of which DISB is a member, at www.nasaa.org.

About DISB

The mission of the District of Columbia Department of Insurance, Securities and Banking is two-fold: 1) to protect consumers by providing equitable, thorough, efficient and prompt regulatory supervision of the financial services companies, firms and individuals operating in the District of Columbia; and 2) develop and improve market conditions to attract and retain financial services firms to the District of Columbia. Visit DISB online at disb.dc.gov.