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Shareholder fined $1K over comments about Alaska regulator

JUNEAU, Alaska (AP) — Financial regulators have fined a shareholder of an urban Alaska Native company $1,000 over comments made on social media about inaction by the state agency responsible for financial oversight. Goldbelt Inc. shareholder Ray Austin complained to the Alaska Division of Banking & Securities in 2018 that board members were violating regulations by not filing financial disclosures, but he said the agency did nothing. CoastAlaska reported that his post revealed information not known to other shareholders. Austin was fined for not filing disclosures before publicly seeking election campaign support and for getting a date wrong in his post, which regulators classified as “material misrepresentation.”


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