The administrative procedures proposed here replace the current hearing procedures found in Department Regulation No. 82-1 (REVISED). This proposed rule establishes up-to-date, clear, and comprehensive processes for proceedings before the Department of Financial Regulation. It systematically describes processes in order to prevent confusion. For example, the current rule holds that a filing occurs when a document is received by the Commissioner, while the proposed rule describes the steps required to effectuate that receipt. The proposed rule takes into consideration the updates to technology by requiring electronic filings and allowing for remote hearings. Also, there are multiple additional sections to clarify how the Department handles issues such as defective filings, computation of time, postponement of hearings, and the like.
A public hearing will be held on October 12, 2021 at 10:00 AM. The hearing will be held in-person, with options to join remotely.
Comment period ends on October 20, 2021. Please send your comments to Sheila Grace at email@example.com.
This regulation applies to each health care stop loss insurance policy or contract that is delivered or issued for delivery by an insurer in Vermont. The proposed amendments to the rule: 1) increase minimum annual attachment points for claims incurred per individual; 2) increase the minimum annual aggregate attachment points; and 3) limit higher attachment points for any individual or group of individuals within small employer groups to three times the attachment point chosen for the policy.
Due to a technical problem, most stakeholders were unable to attend the May 17, 2021 hearing to address the Department’s proposed changes to the Stop Loss Rule. The Department is therefore scheduling a second hearing on June 9, 2021 at 11:00 a.m via Microsoft Teams. Interested parties may attend the hearing using this link, or calling in by phone at +1 802-828-7667, Phone Conference ID: 968 334 889#.
Public comment period ends: June 7, 2021
Sebastian Arduengo (Sebastian.Arduengo@vermont.gov) is taking public comment.
Currently, there are no proposed rules for the Banking Division.
Currently, there are no proposed rules for the Captive Insurance Division.
The proposed revisions amend the Vermont Securities Regulation to improve readability and internal consistency, and to ensure that it is drafted in a manner consistent with model laws and regulations promulgated by the North American Securities Administrators Association (NASAA), federal securities laws and regulations, and to the extent possible, with the laws and regulations of neighboring states. Substantive changes include: adopting the NASAA model rule requiring investment advisers to complete continuing education requirements annually, adopting part of the NASAA model rule requiring investment advisers to adopt a code of ethics, requiring investment advisers to establish written policies/procedures to ensure protection of vulnerable adults from financial exploitation, and setting forth the procedures for allocating money from the Vermont Financial Services Education and Victim Restitution Special Fund established in 9 V.S.A. § 5616 (Fund) to the victims of securities violations in Vermont.
A public hearing is scheduled for October 6, 2021 at 2 pm, with both an in person option at 89 Main Street, Third Floor, Montpelier, VT 05620 and remote option via Microsoft Teams.
The Microsoft Teams call in number is: +1 802-828-7667; Conference ID: 346 940 749#.
Public comment period ends on October 13, 2021.
Contact: Erin M. Moore, firstname.lastname@example.org
No other comment opportunities available at this time.
The Employee Misclassification Task Force will hold two public hearings related to employee misclassification on Thursday, August 26, 2021 and Friday, August 27, 2021 from 11am-1pm (both days).
Please refer to the public notice at https://ago.vermont.gov/blog/2021/08/11/employee-misclassification-task-force-invites-public-comment/ for detailed information.