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Financial Services Law Insights and Observations

Louisiana Office of Financial Institutions, Securities Division, issues update on operations

State Issues Covid-19 Louisiana Financial Institutions Examination Licensing Enforcement

State Issues

On June 5, the Louisiana Office of Financial Institutions, Securities Division, extended through June 26, 2020 an earlier announcement regarding its operations during the statewide “stay at home” order, which we previously covered here.  The announcement provides that: (i) paper copies of registration documents and payment of related fees can be mailed to the LOFI, and certain filings can be submitted electronically; (ii) examinations are being conducted remotely using phone and email correspondence in lieu of traditional on-site examinations; (iii) licensing staff continue to process licensing and registration applications through the CRD/IARD systems; and (iv) enforcement staff are limiting in-person contacts with witnesses and regulatory partners, and are using telecommunications technology to complete tasks remotely.

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