Nebraska Department of Banking and Finance

News & Publications

BSA/AML Self-Assessment Tool

Publication Date: Feb 2, 2017

State Regulators Release BSA/AML Self-Assessment Tool

 

State regulators and the Conference of State Bank Supervisors (CSBS) have released a new voluntary self-assessment tool to help banks better manage Bank Secrecy Act and anti-money laundering risk. The tool is meant to help institutions better identify, monitor, and communicate BSA/AML risk, reduce uncertainty surrounding BSA/AML compliance and foster greater transparency within the industry. Learn more and access the tool at http://bit.ly/2jWs9a8.

New Look & New Web Address

Publication Date: Feb 1, 2017

The Nebraska Department of Banking and Finance web page will have a new look and a new web address ndbf.nebraska.gov on 2/1/2017.  The old web address www.ndbf.ne.gov will automatically redirect to ndbf.nebraska.gov; however, bookmarks and links will need to be updated.  If you have questions, please contact your Review Examiner at 402-471-2171 or write DOB.info@nebraska.gov .

Designated Securities Manuals

Publication Date: Sep 26, 2016

On September 22, 2016, the Department issued an order recognizing the OTCQX Best Market and OTCQB Venture Market as designated securities manuals for purposes of Section 8-1111(2)(a)(iv) of the Securities Act of Nebraska (“the manual exemption”). The Order continues to recognize manuals published by Mergent, Inc. as approved manuals for purposes of the manual exemption. As part of the Order, the portions of the Bureau of Securities Interpretative Opinion #8 addressing the manual exemption were rescinded, and the Department has issued a revised Interpretative Opinion # 8.

Read the Order
Read Interpretative Opinion #8

Federal Regulatory Alert

Publication Date: Aug 25, 2016

Federal Regulatory Alert - Unauthorized Banking Entity: The Office of the Comptroller of the Currency is warning business owners and consumers of an entity calling itself Banc of Omaha. Business owners and consumers (who may not be business owners) are receiving letters by fax and mail stating that their company has been approved for up to $250,000 in working capital and to respond by a deadline because of limited funds.

Full OCC Press Release

Securities Rules Hearing

Publication Date: Aug 10, 2016

Securities Rules Notice is hereby given that the Nebraska Department of Banking and Finance will hold a rulemaking hearing on August 10, 2016, commencing at 9:30 a.m., at the offices of the Department of Banking and Finance, 1526 K Street, Suite 300, Lincoln, Nebraska 68508.

Hearing Notice
Fiscal Impact Statement
Current Title 48 Securities Rules

Switches

Publication Date: Aug 1, 2016

Effective August 1, 2016, the Department revised the form, “Notices of Switch Operation,” to provide for the annual notice of operation filing. The annual notice is due on or before September 1, 2016.

Click here for the “Switches” page.

Securities Act of Nebraska Form U-1: New Filing Requirement

Publication Date: Jun 1, 2016

Effective July 1, 2016, the Nebraska Department of Banking and Finance (NDBF) will require issuers filing pursuant to registration by coordination under Section 8-1106 of the Securities Act of Nebraska to file a separate Form U-1/Uniform Application to Register Securities for each distinctive share class to be offered. NDBF will receipt each share class under a separate and distinct state file number, applying the requisite fee to each filing accordingly. NDBF will no longer allow an issuer to reallocate fees between share classes of the offering after the initial filing is received and receipted.

NDBF Takes Emergency Action Against Omaha Investment Adviser

Publication Date: May 18, 2016

The Nebraska Department of Banking and Finance (“NDBF”) issued an Emergency Order against Jerome P. Bonnett, Jr., a/k/a Joe Bonnett and two of his companies, Bonnett Financial Services, Inc., and BWM Advisors, LLC, Omaha, Nebraska, on May 18, 2016. The Order revoked Bonnett’s registration as an investment adviser representative and suspended the registration of BWM Advisors, LLC, for multiple violations of the Securities Act of Nebraska (“Act”).

In addition, the Nebraska Attorney General’s office, on behalf of NDBF, filed a civil action on May 18, 2016, in Douglas County District Court against Bonnett and his companies alleging violations of the Act and misappropriation of client funds. The lawsuit seeks injunctive relief, freezing of assets, and the appointment of a receiver. On May 20, 2016, the Douglas County District Court granted a Temporary Restraining Order and Asset Freeze against Jerome P. Bonnett, Jr. and the companies named above.

The hearing on the State’s request for a receiver was held June 6, 2016, before Douglas County District Judge Duane Dougherty. Judge Dougherty entered an Order appointing Thomas D. Stalnaker, 1111 N. 102nd Court, Suite 330, Omaha, Nebraska, 68114, as receiver for Bonnett Financial Services, Inc., BWM Advisors, LLC, Omaha, Nebraska, and the Estate of Jerome P. Bonnett, Jr.

NDBF has sent a letter and survey to all known clients of Jerome P. Bonnett, Jr. and the named companies. Responses will be used to assist the receiver. Persons who have not yet returned the surveys are asked to do so promptly. Clients who did not receive the letter are asked to contact NDBF at 402.471.2171.

More information will be posted as it becomes available.

Read the Emergency Order
Read the Court Complaint
Read the Court Order
Read the Order Setting Hearing
Read the Order Appointing Receiver

DASH for the STASH Winner

Publication Date: Mar 15, 2016

A Bellevue area woman won this year’s DASH for the STASH in Nebraska. Eighteen Nebraska libraries and other locations participated in the contest from March 15-May 15, 2016. Much like a scavenger hunt, players gather information about saving and investing by going to participating locations, reading investor education posters, and answering questions. The posters covered four key topics: finding financial advisers, avoiding fraud, understanding investment fees, and building a nest egg. The winner was randomly selected from those players who correctly answered the questions and awarded $1,000 to open or add to an Individual Retirement Account (IRA).

Dash for the Stash - Investor Education and Protection Program

Publication Date: Mar 1, 2016

Citizens of Nebraska are eligible to compete in an investor education and protection program and contest taking place March 15 - May 15, 2016. The DASH for the STASH program is being launched in Nebraska by the Department of Banking & Finance and the nonprofit Investor Protection Institute. The two organizations will present one statewide winner with a $1,000 prize to open or add to a retirement investment account for 2016.

Read full press release

Switches

Publication Date: Dec 30, 2015

The Nebraska Legislature enacted significant changes to the laws governing switches, ATMS, and point-of-sale terminals. To implement LB 348 (2015), the Department has adopted the form, “Notices of Switch Operation,” and has rescinded Financial Institutions Statement of Policy #33.

Click here for the “Switches” page.

Consumers Beware of Scam Involving Old & Non-Existing Debts

Publication Date: Oct 9, 2015

NEBRASKA DEPARTMENT OF BANKING AND FINANCE WARNS CONSUMERS TO BEWARE OF SCAM INVOLVING OLD AND NON-EXISTING DEBTS

The Nebraska Department of Banking and Finance is warning residents to beware of a currently popular debt collection scam in which individuals call people to demand payment of an old “payday loan” and then threaten them with possible arrest or court action if they do not immediately send payment.

Full Press Release

Investor Protection Institute to Offer $100 Prize in "Dash for the Stash"

Publication Date: Apr 7, 2015

NEBRASKA DEPARTMENT OF BANKING AND FINANCE, INVESTOR PROTECTION INSTITUTE TO OFFER $1,000 PRIZE IN “DASH FOR THE STASH” FINANCIAL LITERACY PUSH IN LIBRARIES

Public libraries and other institutions in Nebraska will participate in the DASH for the STASH investor education/protection program and contest taking place April 15-May 15, 2015 as part of Financial Literacy Month. Research shows that the four focuses of DASH for the STASH – financial fraud, building a nest egg, selecting financial advisers, and the cost of investment fees – are all topics about which many investors need to learn more.

Read more, including Contest Rules, Participating Libraries, and the Focus of the Contest

Notice of Rulemaking Hearing

Publication Date: Jan 7, 2015

Notice is hereby given that the Nebraska Department of Banking and Finance will hold a rulemaking hearing on January 7, 2016, commencing at 9:30 a.m., at the offices of the Department of Banking and Finance, 1526 K Street, Suite 300, Lincoln, Nebraska 68508. The purpose of the hearing is to take testimony and evidence concerning the following changes to the Rules and Regulations of the Department:

  1. The proposed revision of Title 48, Chapter 1.
  2. The proposed adoption of new Title 48, Chapter 38.
  3. The proposed adoption of new Title 48, Chapter 39.
  4. The proposed adoption of new Title 48, Chapter 40.
  5. The proposed adoption of new Title 48, Chapter 41.
  6. The proposed adoption of new Title 48, Chapter 42.

Read Full Notice
Read Fiscal Impact Statement

Nebraska Department of Banking and Finance Warns About Online Escrow Company

Publication Date: Jun 3, 2013

Lincoln, Neb., June 3, 2013 – The Nebraska Department of Banking and Finance is warning Nebraska residents about an internet-based escrow company. Lincoln Closing and Escrow Services (“LCE”) claims to be based at 1248 “O” Street, Lincoln, Nebraska. The Department has determined that no such company is located at that location.

LCE claimed to be a licensed money transmitter and provided the consumer with a copy of a Sale of Checks and Funds Transmission license allegedly issued to it by the Nebraska Department of Banking and Finance. The license stated that LCE was a trade name of Skrill USA, Inc. (“Skrill”), a legitimate, licensed money transmitter. The license provided to the consumer was fraudulent. LCE is not licensed by the Department, nor is it affiliated with Skrill or any other licensed money transmitter.

Full Press Release