Chesterton Tribune

 
 

Hoosier stockbrokers behind on child support could lose licenses

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Indiana Secretary of State Connie Lawson has sent letters to Hoosier stockbrokers who are behind on child support and not making payments, warning them that if they do not pay, their professional license will be suspended, the Secretary of State’s Office announced today.

That statement said that Lawson has been working with the Department of Child Services to identify financial professionals who are registered with the Securities Division of the Secretary of State’s office and who are behind in child support and not making payments.

“Non-custodial parents have a responsibility to provide financial support to their children,” Lawson said. “To ensure kids get what they deserve, financial professionals registered with my office who don’t pay will have their license suspended.”

Four stockbrokers registered with the Securities Division have been identified as behind in child support in amounts of $4,000 or more. The total amount due is in excess of $160,000 with the largest amounts owed being $62,820 and $70,400, the statement said. Individuals who have not made arrangements for payment with county prosecutors will receive a warning that payment is required or that a suspension is possible. If the individual does not respond, then the Securities Division may suspend their license until payment arrangements are made.

Earlier this year, the General Assembly gave the Secretary of State the authority to suspend an individual’s registration under the Indiana Uniform Securities Act for failure to pay child support. House Enrolled Act 1294, which authorized the change, was authored by Representatives Heaton and Burton and sponsored by Senators Smith and Mrvan.

 

 

Posted 11/20/2012