Central ND News

North Dakota has unified its Insurance and Securities departments to enhance consumer protection and oversight of the financial services industry. The merger follows the passage of Senate Bill 2214 in the 2025 legislative session, which allows the insurance commissioner to also serve as securities commissioner.

"This is a milestone moment for North Dakota," said Jon Godfread, North Dakota's Insurance Commissioner. "Bringing these two regulatory functions together under one roof allows us to better protect consumers, strengthen our oversight capabilities, and modernize how we serve the people and businesses of our state."

The newly combined department aims to improve efficiency in investigating fraud, enforcing compliance, licensing professionals and firms, and providing consumer information. It will also focus on public education efforts regarding insurance policies, investment options, and financial rights.

Several leadership appointments have been made as part of this reorganization. Deputy Commissioner John Arnold will oversee all regulatory operations across both divisions. Matt Fischer will manage day-to-day regulation as Chief Director of Insurance Regulation, while Cody Schmidt has been appointed Chief Director of Securities Regulation.

"Insurance and investment decisions are among the most important financial choices people make," Godfread stated. "With this merger, we’re not only aligning regulatory expertise; we’re creating a smarter, more effective agency that’s ready to meet the challenges of a rapidly evolving market."

Consumers can continue accessing services at Insurance.ND.gov or Securities.ND.gov with updates on the new structure expected throughout the year.