Division of Banking and Securities Robert H. Schmidt Division Director Program Overview The division regulates state depository and non-depository financial institutions, administers and enforces Alaska's financial services laws, and provides information for consumers, investors, entrepreneurs, and regulated industries. The division has three primary functional areas; licensing, examinations, and enforcement. Division staff answer inquiries, investigate and resolve complaints, and contribute to education and outreach activities. DCCED Proposes Changes to Regulations to Modernize Banking Regulations to Implement Amendments made in HB 85 in Alaska. The Department of Commerce, Community, and Economic Development proposes to adopt regulation changes in Title 3, Chapters 01, 02, 03, and 06, of the Alaska Administrative Code, dealing with banking regulations in Alaska. Interested persons are encouraged to read the entire document before commenting. Comments may be made through the Alaska Online Public Notice system or via email to dbsregs@alaska.gov. DCCED Adopts Changes to Regulations dealing with money transmitter licenses and the regulation of virtual currency in Alaska. The Department of Commerce, Community, and Economic Development is adopting regulation changes in Title 3, Chapter 13, of the Alaska Administrative Code, effective January 1, 2023, dealing with licensure of the transmission virtual currency activities in Alaska. Please find the amended regulations here. Licensees with a Limited Licensing Agreement (LLA) will have it removed from their record in NMLS and the LLA will become void on January 1, 2023. DCCED Proposes Changes to Regulations Dealing With the Sale and Offerings of Securities in Alaska The Department of Commerce, Community, and Economic Development proposes to adopt regulation changes in Title 3, Chapter 8, of the Alaska Administrative Code, dealing with the registration and sale of securities in Alaska, registration and licensing of broker dealers, agents, and investment advisers. Title 3, Chapter 8 has been entirely re-written and re-numbered. Many additions and deletions have been made to the regulation. Interested persons are encouraged to read the entire document before commenting. Comments may be made through the Alaska Online Public Notice system or via email to dbsregs@alaska.gov. Geopolitical Conflict, Cybersecurity Threat and Mitigation The Alaska Division of Banking and Securities urges financial institutions and industries to monitor current events in Ukraine and Europe. Events could pose significant cybersecurity risks for the U.S. financial sector. For more details please link to the News and Alerts page. COVID-19 Special Notices Please check our News and Alerts page for updates or additional guidance that may be issued related to the pandemic. Mortgage Loan Originators Regulation Updates Deferred Deposit Advance (Payday Lender) regulation changes effective December 21, 2019. Mortgage Lending regulation changes effective February 6, 2020. Disclaimer: This site is provided as a public service for general informational purposes only; it does not attempt to address specific business transactions or legal disputes. This service is not intended to be legal advice, and should not be construed as a replacement for competent legal counsel.