HELENA - State Auditor John Morrison has reached a settlement with a Chicago-based broker-dealer firm for selling securities without being registered in Montana.
Rothschild Investment must return nearly $23,000 in commissions to the 11 Montana investors, pay a $2,500 fine to the state and another $2,500 to the Investor Protection Trust for the benefit of Montana investors.
Morrison says the securities were sold to 11 investors in the Missoula and Kalispell area over the past two years.
He says Rothschild Investment Corp. and its brokers are now properly licensed to do business in the state.
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